EDMONTON, ALBERTA – Imperial Equities Inc. (TSX-V:IEI) today announced it has purchased a 2.3 acre property in Fort Saskatchewan, Alberta, the gateway to “Alberta’s Heartland”. The property is developed with 7000 square feet of buildings and is situated along Highway 15 in the City of Fort Saskatchewan. The $2.6 million property was financed through existing cash flows and a new conventional mortgage.
The tenant, RSC Equipment Rental (“RSC”) is a leading provider of equipment rental services for the construction, industrial/petrochemical, manufacturing and governmental sectors in the United States and Canada. RSC trades on the New York Stock Exchange under the symbol RRR.
“RSC recognized the potential of Alberta’s Heartland and appointed Imperial Equities to help identify and acquire a suitable location for their new store. We are particularly pleased to have been chosen to facilitate RSC’s expansion into the Heartland, an area of over 200 square kilometers of prime industrial land for the development of oil and petro chemical related industries. A new 10 year lease has been signed and occupancy is expected by June 1, 2008 said Sine Chadi, President and CEO of Imperial Equities.