- What BTB REIT sold 3911 Millar Avenue in Saskatoon
- Why Weber Supply Co. paid $6.1m for the industrial property
- What next Weber plans to occupy the asset
BTB Real Estate Investment Trust has offloaded an industrial office-and-warehouse property in Saskatoon for $6.1m, Green Street News can reveal.
Kitchener, Ont.-based Weber Supply acquired 3911 Millar Avenue in a deal led by CBRE Saskatchewan. The industrial- and safety-products distributor plans to occupy the asset.
BTB REIT had purchased the property in December 2021 in a $93.7m portfolio deal that included eight other industrial assets and an office building in Saskatoon and Edmonton. The portfolio was acquired with an in-place cap rate of 6.90%.
The 26,000 sq ft building, built in 2010, is zoned light industrial. The 20,000 sq ft warehouse has a 24 ft clear height, three overhead grade doors and three dock-level doors. The remainder of the property comprises six offices, a boardroom and a kitchenette.
On over 2 acres in the Marquis Industrial District, the property is less than 2km from Louis Riel Trail, 2 km from Yellowhead Highway and 3 km from Saskatoon International Airport.
BTB REIT, headquartered in Montréal, owns and manages a portfolio of approximately 73 properties across Canada. Michel Léonard is president, chief executive and trustee.
