TORONTO, ONTARIO--(Marketwired - Aug. 13, 2014) - ReDev Properties Ltd. is pleased to announce the sale of Nottingham Plaza, a commercial shopping centre located in Sherwood Park, Edmonton, AB .
Purchased in 2006, Nottingham Plaza is in a prominent location, close to the downtown core and alongside a primary commercial roadway. It has 29, 906 square feet of retail and commercial space, and hosted a diverse mix of national and local tenants, including Tim Hortons, Great Canadian Dollar Store and Edward Jones.
"We are pleased with the outcome of the sale and being able to yield a respectable return to our investors," says ReDev Properties Ltd. President, Richard Crenian. "Nottingham Plaza was a well-managed and attractive plaza, which made it appealing to the purchasers."
Nottingham Plaza is the seventh successful property project ReDev Properties Ltd. has owned, operated and sold.
About ReDev Properties Ltd.
ReDev Properties Ltd. is a Canadian owned and operated commercial real estate asset management company. Founded in 2001 by Richard Crenian, ReDev Properties has purchased and managed over 25 commercial real estate properties in Canada on behalf of our investors.
ReDev Properties understands that the key to any successful commercial real estate project is location. ReDev Properties carefully and diligently locates existing commercial real estate properties in markets which provide the necessary stability and future growth to ensure our assets retain and increase their value. Western Canada, specifically Alberta and Saskatchewan, are the economic engines of the country and ReDev has placed a high priority on properties located in these provinces.
ReDev Properties utilizes a long term approach to managing our investors' assets. It generally takes considerable time and expertise to maximize the value of a commercial real estate property. ReDev has the requisite experience and knowledge to capitalize on the lucrative commercial real estate market and maximize the value of our assets.