Barrie Power Centre

Commercial Retail Property, Industrial Building Investment

This portfolio comprises thirteen buildings, including a state-of-the-art 12-screen Galaxy Cineplex Theatre (on six acres of land) facing the very busy Highway 400, the main road from Toronto to Cottage Country. Adjacent to the theatre is a newly constructed office building anchored by Sunlife Insurance Company, next to it is the Putting Edge, with children’s golf, a party room and adjoining restaurant. These assets were purchased in March 2007 for $21,550,000 on behalf of Churchill IV Real Estate Limited Partnership.

Also purchased in this portfolio were two multi-tenant industrial buildings situated on the north side of Barrie with good visibility to Highway 400, close to Georgian College and the Royal Victoria Hospital. These industrial buildings have been built out to an average of 75% office space. The latest Canadian Census reported Barrie, Ontario as the fastest growing city in Canada with a population of more than 100,000 people. The five year population growth was 19.2%; by way of comparison, Calgary, Alberta was 13.4%.