Strathallen Capital Corp announces the acquisition of Nortown Centre, on behalf of Strathallen Retail Property Fund Limited Partnership 3 (SRPF3), as of January 2016.
Nortown Centre is a 71,423 SF grocery anchored shopping centre, with major tenants including Food Basics (Metro), Dollar Tree, PartSource, and CIBC. The property is well situated within one of the primary retail nodes in Chatham, Ontario.
Chatham is well located within the Chatham-Kent Municipality along the 401, approximately 3 hours west of Toronto and one hour east of Windsor/Detroit.
The acquisition marks the 13th and final addition to SRPF3.
“The acquisition of Nortown Centre adds to the strong portfolio of properties held within SRPF3 and is the 8th grocery anchored centre in the Fund. The strategic location of this centre, paired with strong National tenants, created a prime opportunity to secure a solid investment on behalf of our investors,” said Jonathan Saguy, Executive Vice President of Investments at Strathallen. “Our main focus is to identify and secure optimal real estate investment opportunities where we are then able to build upon our proven track record of generating outstanding returns to our investors.”
Strathallen Capital will act as Asset Manager and Strathallen Property Management Inc. will provide property management services. Petr Kafka is the Senior Director of Leasing responsible for the project and can be reached at (416) 642.6032 or firstname.lastname@example.org