Agellan to Sell Domino's Industrial Facility for $11.3 Million

Canadian REIT Propels Capital Recycling Strategy with Planned Baltimore Disposition

Agellan Commercial Real Estate Investment Trust (TSX: ACR.UN) has entered into an agreement tosell Arundel Crossing VI, a 70,000-square-foot industrial facility located in Odenton, MD, to a third-party purchaser for $11.3 million, or approximately $161 per square foot.

Built in 2001, the single-tenant facility is fully leased to Domino's, which uses the site for additionalwarehousing. The property features a 20' clear height, 17 loading docks, ESFR sprinkler system, andabundant freezer and cooling space.

Arundel Crossing VI occupies an 11.67-acre site at 8271 Anderson Ct. The property is part of thefive-building Arundel Crossing West industrial park, which offers easy access to Highways 40 and32, and is approximately eight miles south of the BWI Airport.

A Toronto-based REIT, Agellan acquired the asset for $10.5 million back in 2013, which coincidedwith the firm's initial public offering. Agellan is currently in the process of recycling capital byselling non-core assets and reinvesting the proceeds into new investment opportunities, with aspecific focus on multifamily assets.

Following the satisfaction of customary closing conditions, the sale is expected to go through April20, 2015.

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