Edmonton retail/office investment property put up for sale

Commercial real estate manager ReDev Properties Ltd. has announced the unconditional agreement for the sale of the Daly Grove Centre retail/office complex, situated at 4205-4259 23rd Avenue, Edmonton, Alberta.

CBRE, Edmonton was engaged as the broker for the vendor, ReDev Properties founder and president Richard Crenian said. The Centre was initially purchased by the developer in 2007, and offers over 33,000 square feet of retail and office space amid the dense residential, family-friendly Mill Woods area.

“Daly Grove Centre has been a valuable product for us,” Crenian. “The centre hosts secure and stable tenants making the property a strong cash yielding asset. We’re sad to part ways with the centre, but believe our group has maximized the potential of the property.”

Daly Grove Centre is the 14th asset in the ReDev Properties portfolio to have been acquired, owned, operated and sold since 2001, as well as the 2nd property to close in 2017.

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