Canadian Tire Corp. has agreed to sell an industrial property in the Greater Toronto Area for $258-million. The property, which includes 1.5 million square feet of real estate, is no longer needed due to supply chain investments and consolidation.
The sale follows a competitive bid process launched in Q1 2024. The pre-tax gain is expected to be around $240-million, and the deal is expected to close in Q4 2024. Proceeds will be used to reduce debt.
Source: Globe and Mail
Source: The Star
