EDMONTON, Oct. 2, 2018 /CNW/ - Imperial Equities Inc.
("Imperial") today has announced it has completed the Purchase of
the Dynomax Building located at 7501 – 42 Street, Leduc, Alberta. The transaction, which closed
on September 19, 2018 between 1917733
Alberta Ltd. and Imperial, is in the amount of $9,000,000.00 and is Imperial's first acquisition
in Leduc, Alberta.
The 41,630 ft2 building is situated on 3.81 acres of
prime industrial land with excellent exposure to major
thoroughfares in the Leduc/Nisku/Edmonton industrial region. The property
serves as headquarters for Dynomax Drilling Tools Inc., a
multinational company involved in the manufacture and supply of
leading performance drilling products engineered for the oil and
gas industry. These high value products and services are designed
for vertical, directional and horizontal drilling operations around
the globe.
"The transaction is a standard sale leaseback wherein the seller
agrees to sell the property but remain as a tenant. Imperial agreed
to the transaction and completed a new lease with Dynomax on the
land and buildings for a period of 10 years at prevailing market
rents. This is characteristic of the ideal transaction whereby
Imperial's tenant base remains largely international in scope,"
said Sine Chadi, President and CEO of Imperial.
About Imperial Equities Inc.:
Imperial Equities Inc. is based in Edmonton, Alberta. A publicly traded company
anchored by commercial and industrial real estate properties in its
targeted Edmonton and Alberta markets. Additional information
is available at: www.imperialequities.com
Imperial's common shares are listed on the TSX Venture Exchange
under symbol IEI.
Neither TSX Venture nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE Imperial Equities Inc.