- What Nexus Industrial has leased the remaining 109,000 sq ft of Titan Park
- Why The company completed the property in April
- What next The 10-year lease starts in February 2025
Nexus Industrial REIT has leased the remaining 109,000 sq ft of Titan Park in Regina.
The 10-year lease, which starts on Feb. 1, 2025, is subject to an annual rent increase.
The Oakville, Ont.-based company completed construction of the 313,000 sq ft industrial park, 905 Park Street, in April for $48m. Rosenau Transport is a tenant at the property.
Titan Park is the site of the former Sears distribution centre.
The company also has completed the extension of its credit facility with lender ATB Financial. It comprises a $70m secured committed revolving credit line maturing in September 2025.
The facility will be used to fund general corporate expenses.
