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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.”

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President’s Report: 2020 Q1 CEO Message

For more than twenty years, Imperial Equities has achieved year over year profitability. It’s a track record we are proud of and one we have maintained consistently, even when our world seemed to be less than certain.

After several years of capriciousness, we are pleased to see signs that Alberta’s energy sector will be boosted by the construction of the Trans Mountain Pipeline, and that the recent Federal Court of Appeals decision to uphold the Federal approval makes its path forward beyond certain. We are thrilled to know our energy products will have greater access to tidewater and new markets as a result of this project. This will very likely boost the local economy, and benefit many of our tenants. While we are optimistic about economic prospects locally, we know we must make our own success.

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