Fund:
Churchill VI Real Estate Limited Partnership, Churchill VII Real Estate Limited Partnership
Property Description
Maple Leaf Food’s mid-western distribution facility is located approximately 7.5kms north of downtown Saskatoon, in the Marquis Industrial Area. The property has easy access to the Yellowhead Hwy approximately 2km away, John G. Diefenbaker International Airport 3kms away, and the Saskatoon Intermodal Terminal is 6kms away. The site is 18.6 acres and was developed in 2008 with a 163,418 SF single-tenant industrial building, purposed primarily for use as a state-of-the-art cold storage distribution facility. The basic building construction is structural steel frame with concrete block walls and prefabricated panels, and offers 38’ clear ceiling height in the main freezer and cooler areas and 22’ clear ceiling height in the dock area. There are 32 truck level loading bays and one drive in door. Churchill acquired the property in June 2009 for $21,006,000 and divested it in January 2010 for $25,500,000. Participating funds in this property were: Churchill VI Real Estate Limited Partnership (50%) and Churchill VII Real Estate Limited Partnership (50%).
