EDMONTON, May 16 /CNW/ - Imperial Equities Inc. (TSX-V:IEI) today announced that it has secured another build-to-suit agreement on its South East Edmonton industrial lands. Imperial will begin construction on a new 45,000 square foot industrial and office complex for PowerComm Inc., a leader in the electrical instrumentation and valve servicing industry in Western Canada. Construction on the new building is due to begin in June, 2007.
"We are extremely excited about this lease to a publically traded, large regional Tenant," said Sine Chadi, CEO, Imperial Equities Inc. "Lands were purchased in 2006 for the purposes of developing a new first class building. PowerComm required a specific specialty building to suit their growing business and chose Imperial as their Landlord of choice".
The $8.5 million dollar project will see the company construct the 45,000 square foot building on 7.66 acres of land. The excess lands will be used by PowerComm for their significant outside storage requirement. PowerComm currently stores and manages in excess of thirty five thousand client owned surplus valves. The company anticipates that building will be fully occupied by its new Tenant in late 2007.
About Imperial Equities Inc.:
Based in Edmonton, Alberta, Imperial Equities is dedicated to increasing share value through a diverse group of companies anchored by commercial and industrial real estate. Shares of Imperial Equities Inc., trade on the Toronto Venture Exchange (TSX-V IEI). More information about Imperial Equities is available by calling (780) 424-7227 or email at askus@imperialequities.com
The Toronto Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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