- What A 58,000 sq ft building in Edmonton has hit the market for $15m
- Why The distressed property is being sold under court order
- What next The property has more than an acre of developable land
A distressed industrial property in Edmonton has hit the market under court order with an asking price of $15m.
The 58,000 sq ft building, formerly used by owner Action Flooring, is on 4 acres at 6810 50th Street NW in the city’s Roper industrial area. The valuation translates to $259/sq ft. NAI Commercial is marketing the property on behalf of receiver Ernst & Young.
The campaign pitches the building as ideal for an owner-operator, with the ability to lease any remaining space for additional income. The building, constructed in 2018, has four dock-level loading doors and six grade-level doors.
Marketing materials also note that the parcel has nearly 2 acres of developable land.
The property is 6 km southeast of downtown Edmonton and 2 km north of Highway 14.
Action Flooring was placed under receivership last March after the company defaulted on $18m of debt owed to BMO.
