Imperial Equities acquires warehouse complex in Edmonton

Complex housed distribution activities of Canada’s largest restaurant equipment dealer

Imperial Equities acquires warehouse complex in Edmonton
Duffie Osental

A major commercial real estate firm recently purchased an industrial warehouse complex in Edmonton from Canada's largest restaurant equipment dealer.

Imperial Equities announced that it has finalized the purchase of the Russell Hendrix Building in West Edmonton. The transaction is expected to close on March 31 and is valued at $7,360,000.

Read more: Large deal gives Alberta's commercial market its last push of 2019

The 71,381 square foot industrial warehouse sits on 2.96-acre site and is home to the Edmonton region distribution activities of restaurant equipment dealer Russell Hendrix.

“We are pleased with this transaction and the opportunity to secure an industry leading tenancy with a company that has deep roots in Western Canada,” said Sine Chadi, chief executive officer of Imperial Equities. “This is a solid investment with a strong tenant covenant that both supports our desire to see more industry-based diversification in our investments and adds an immediate contributor to our bottom line.”

Based in Edmonton, Alberta, Imperial Equities is a publicly traded company anchored by industrial, commercial and agricultural real estate properties in its targeted markets throughout Western Canada.