TORONTO, ONTARIO--(Marketwire - Feb. 11, 2013) - C2C Industrial Properties Inc. ("C2C" or the "Company") (TSX VENTURE:CCH) announced today that it has acquired a piece of development land, in Halifax, Nova Scotia, at a price of approximately $200,000 per acre. The purchase price was paid in cash.
The Property is a site of approximately 5 acres well-located within the Burnside Industrial Park, where C2C owns over 600,000 SF of industrial buildings occupied by 90 tenants. "The acquisition of a development site in proximity to its current building portfolio positions the Company to create value from its existing tenant base. This action is consistent with C2C's strategic direction of providing current income and access to higher yielding development activity" commented Chris Ross, President of C2C.
About C2C Industrial Properties Inc.
C2C is a real estate investment corporation specializing in the acquisition, ownership and operation of light industrial properties across Canada. C2C currently owns 24 industrial assets totalling approximately 2.1 million square feet of gross leasable area. More information about C2C (CCH: TSX-V) is available at www.c2cip.com.
Forward Looking Statements
This document contains forward-looking statements relating to C2C and the industry in which it operates and its strategy, action plans and investments, which may involve estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and/or are beyond C2C's control. Consequently, readers should not place any undue reliance on such forward-looking statements. These forward-looking statements are made as of the date of this press release. C2C is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors, unless otherwise required to do so by applicable law. All forward-looking statements attributable to C2C are expressly qualified by these cautionary statements.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.