C2C Industrial Properties Inc. Completes Acquisition of Montreal Industrial Warehouse

C2C Industrial Properties Inc.  announced that it has completed the acquisition of an industrial warehouse and distribution centre located in Longueuil, Quebec effective April 19th, 2013. The property contains 222,464 square feet of gross leaseable area on 11.47 acres of land well-located in the Longueuil district of greater Montreal. Its location provides excellent access to all Greater Montreal Area markets, as well as to US border crossings. The building is 100% leased to a tenant who has occupied the facility since 1967.
The Company paid $7.5 million for the property, representing a cap rate of approximately 7.5%, excluding due diligence and closing costs. The purchase price was satisfied entirely in cash.

on April 23, 2013