Fund:
Churchill 11 Real Estate Limited Partnership
Property Description
This modern, warehouse distribution building is located in one of Canada’s most desired distribution locations – the growing city of Kamloops, in central BC. Situated on 10.3 acres directly adjacent to the Trans Canada Highway, the site was developed in 2009 with a 142,396 SF distribution facility complete with office, meeting and production areas. The property is 100% leased by NRI Distribution Inc. and serves as their North American headquarters. NRI is Canada’s leading provider of third-party (3PL) distribution and fulfillment services and provides operational support to vendors of premier brands with high volumes of SKUs and transactions. The global 3PL market reached $750 billion in 2014, and 80 percent of all Fortune 500 companies used some form of 3PL services. Churchill acquired the property in October 2011 for $17,600,000.Participating funds in this property: Churchill 11 Real Estate Limited Partnership (35%) and Dallas Drive #2 Limited Partnership (65%). Churchill 11 Real Estate Limited Partnership subsequently sold its 35% interest to Dallas Drive #3 Limited Partnership in August 2015.
