Business
Imperial secures build-to-suit agreement
Imperial secures build-to-suit agreement.
About this update from Imperial Equities Inc.
[{"type":"text","content":"\n\n\n\nEDMONTON, May 16 /CNW/ - Imperial Equities Inc. (TSX-V:IEI) today\nannounced that it has secured another build-to-suit agreement on its South\nEast Edmonton industrial lands. Imperial will begin construction on a new\n45,000 square foot industrial and office complex for PowerComm Inc., a leader\nin the electrical instrumentation and valve servicing industry in Western\nCanada. Construction on the new building is due to begin in June, 2007.\n\n\n"We are extremely excited about this lease to a publically traded, large\nregional Tenant," said Sine Chadi, CEO, Imperial Equities Inc. "Lands were\npurchased in 2006 for the purposes of developing a new first class building.\nPowerComm required a specific specialty building to suit their growing\nbusiness and chose Imperial as their Landlord of choice".\n\n\nThe $8.5 million dollar project will see the company construct the 45,000\nsquare foot building on 7.66 acres of land. The excess lands will be used by\nPowerComm for their significant outside storage requirement. PowerComm\ncurrently stores and manages in excess of thirty five thousand client owned\nsurplus valves. The company anticipates that building will be fully occupied\nby its new Tenant in late 2007.\n\n\nAbout Imperial Equities Inc.:\n\n\nBased in Edmonton, Alberta, Imperial Equities is dedicated to increasing\nshare value through a diverse group of companies anchored by commercial and\nindustrial real estate. Shares of Imperial Equities Inc., trade on the Toronto\nVenture Exchange (TSX-V IEI). More information about Imperial Equities is\navailable by calling (780) 424-7227 or email at [email protected]\n\n\n The Toronto Venture Exchange has not reviewed and does not accept\n responsibility for the adequacy or accuracy of this release.\n\n\n%SEDAR: 00010417E\n\n\n","length":1921,"tagName":"div"}]