Nexus Industrial REIT Announces the Sale of Four Non-Core Industrial Buildings and Two Legacy Office Buildings

/EIN News/ -- TORONTO, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Nexus Industrial REIT (“Nexus” or the "REIT") (TSX: NXR.UN) is pleased to announce the sale of four non-core industrial buildings located in Saskatchewan and two legacy office buildings located in Quebec and New Brunswick (the “Properties”).

“The sale of these non-core industrial document storage buildings and legacy office buildings further concentrates our portfolio on high-quality industrial properties, advancing our strategy as a Canada-focused pure-play industrial REIT. Industrial assets now contribute 96% of our NOI¹, and our industrial concentration will increase as we complete the sale of our legacy retail portfolio in the coming months” said Kelly Hanczyk, CEO of Nexus Industrial REIT.

The REIT intends to use the net proceeds to repay existing indebtedness on its credit facility.

Details of the Properties are as follows:

Property Address	Building Type	GLA (sq. ft.) at Nexus’ ownership interest
320 Industrial Drive, Regina, SK	Industrial	60,000
332 Industrial Drive, Regina, SK	Industrial	85,260
1117-1135 Pettigrew Road, Regina, SK	Industrial	39,922
1414 Fletcher Road, Saskatoon, SK	Industrial	86,000
10500 Ryan Avenue, Dorval, QC	Office	52,372
400 Main St., St. John, NB	Office	159,989

About Nexus Industrial REIT

Nexus is a growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition of industrial properties located in primary and secondary markets in Canada and the ownership and management of its portfolio of properties. The REIT currently owns a portfolio of 105 properties comprising approximately 12.5 million square feet of gross leasable area.

For further information please contact:

Kelly C. Hanczyk, CEO at (416) 906-2379; or
Mike Rawle, CFO at (647) 823-1381.

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¹ Non-IFRS Financial Measure