ReDev Properties announce sale of Daly Grove Centre
Filed in: Investment
23. August 2017
Richard Crenian, President of ReDev Properties Ltd., is pleased to announce the unconditional agreement to sell Daly Grove Centre located at 4205-4259 23rd Avenue, Edmonton, Alberta, Canada. CBRE, Edmonton was engaged as the broker for the vendor.
Daly Grove Centre
Daly Grove Centre, purchased in 2007 has over 33,000 square feet of rentable retail and office space in Edmonton’s residential and family-friendly Mill Woods area.
The property is currently fully leased with a dynamic mix of local and national tenants, ranging from medical care facilities to convenience food stores.
“Daly Grove Centre has been a valuable product for us,” said ReDev Properties Founder and President Richard Crenian. “The centre hosts secure and stable tenants making the property a strong cash yielding asset.
We’re sad to part ways with the centre, but believe our group has maximized the potential of the property.”
Daly Grove Centre is the 14th asset of ReDev Properties’ portfolio to have been acquired, owned, operated and sold since 2001. This the second property to close in 2017.
ReDev continues to actively search for similar assets to acquire and manage for its portfolio and welcomes any inquires.
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