BTB REIT has agreed to acquire three industrial properties totalling 143,118 square feet in the Edmonton bedroom community of Leduc, Alta.

The REIT said the accretive acquisition is valued at $31.5 million, excluding transaction fees and adjustments. The buildings are located near Edmonton International Airport, which is situated in Leduc, and Highway 2. BTB said the assets supports its geographical diversification and strengthen its position in the industrial sector.

Net proceeds from recently announced dispositions were reinvested in the purchase.

The largest property, at 6303 39 Street., offers 88,699 sf of leasable area with a 26-foot clear height. Built in 2014 for oilfield-services firm Abaco Drilling Technologies, the facility is described as the only one of its kind in Canada.

A second building at 6302 39 Street., constructed in 2016, has 44,328 sf and a 28-foot clear height. It is leased to NDT Global, a pipeline-inspection company with international operations.

The third property, located at 6207 39 Street., comprises 10,091 sf with a 28-foot clear height. Built in 2014, it is leased to Revolution Crane & Transport, which provides crane and transport services across Western and Northern Canada.

Separately, the REIT said it has accepted an offer to sell a mixed-use property at 909–915 Boulevard Pierre-Bertrand in Quebec City, Que., as part of its portfolio optimization strategy. BTB has satisfied the purchase conditions, with closing expected on or around March 24.

BTB is a Toronto Stock Exchange-listed REIT that invests in industrial, suburban office and necessity-based retail properties across Canada. The REIT owns and manages 74 properties comprising approximately six million sf of leasable area.

Pictured: Three newly acquired BTB REIT industrial properties in the Edmonton area.

Photo: Canada Newswire / BTB REIT