EDMONTON, Sept. 12, 2016 /CNW/ – Imperial Equities Inc. (“Imperial”) today has announced it has completed the sale of its M & D Drafting Building located at 3604 â 76 Avenue, Edmonton, Alberta.
Imperial’s foray into the suburban office market began with the acquisition of the M & D Drafting building in 2012. The newly constructed purpose built building was built to house the drafting division of a major steel fabricating company headquartered in Edmonton. The M & D Drafting building remained Imperial’s only suburban office building and considered a deviation from its formal core business of industrial real estate.
Since 2014, Imperial’s desire to return to its core business sector has been paramount. In June of 2016, Imperial accepted an unsolicited offer to sell the M & D Drafting building for $3.4 million.
“Imperial’s core business sector is Industrial real estate in its targeted Alberta market. This sale represents our desire to return to that core business” said Sine Chadi, President and CEO of Imperial.
About Imperial Equities Inc.:
Imperial Equities Inc. Is based in Edmonton, Alberta. A publically traded company anchored by commercial and industrial real estate properties in its targeted Edmonton and Alberta markets. Additional information is available at: www.imperialequities.com
Imperial’s common shares are listed on the TSX Venture Exchange under the symbol IEI.
Neither TSX Venture nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Imperial Equities Inc.