ReDev Properties Is Proud To Announce The Purchase Of Miller Crossing
ReDev Properties is proud to announce the agreement to purchase Miller Crossing Shopping Centre, a new generation Class A retail center comprised of 27,340 sq. ft located in Edmonton, Alberta. The property is anchored by strong covenant tenants and enjoys the advantage of being located directly next to Manning Drive (Highway 15) which allows for the draw of a consumer base outside of traditional neighborhood centres. Occupying 3.31 acres of land, the property has been managed and built to institutional standards by one of Alberta's premiere commercial developers
"This has been a rare opportunity to acquire Class "A" retail in Alberta with excellent property fundamentals in one of Edmonton's fastest growing areas" said ReDev Founder and President Richard Crenian. The property benefits from exposure the Manning Freeway, a major north/south arterial providing direct access to the Anthony Henday freeway system to the north.
"There is a sustained demand for commercial real estate properties, and particularly so for better quality assets. While there is a shortage of quality, well-leased properties available for sale, we are very happy to have found this investment opportunity given its rarity and great fit to our current portfolio," said Richard Crenian.
About ReDev Properties Ltd. ReDev Properties Ltd. is a Canadian commercial real estate asset manager. Since 2001, the company has purchased, owned and managed numerous commercial real estate properties in Canada. ReDev Properties locates existing commercial real estate properties in markets that will ensure assets retain, and increase in value for necessary stability and future growth. The company's founder and President, Richard Crenian has managed over two billion dollars in real estate assets since 1981.