Imperial Equities Inc. Announces Multi Million Dollar Transaction to Purchase Edmonton’s Russell Hendrix Building
EDMONTON, ALBERTA/CNW/ – Imperial Equities Inc. (“Imperial”) today has announced it has finalized the purchase of the Russell Hendrix Building in West Edmonton. The transaction is expected to close on March 31, 2020, and is valued at $7,360,000. The 71,381 square foot industrial warehouse sits on 2.96 acre site, and is home to the Edmonton region distribution activities of Russell Hendrix, Canada’s largest restaurant equipment dealer.
“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, CEO 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.”