Counsel to LS Properties on its acquisition of Pembina Crossing

LS Properties has acquired Pembina Crossing, a commercial property that provides easy access to a diverse mix of national and local retailers, government agencies and financial services providers.

Located at 1910 Pembina Highway in Winnipeg, Pembina Crossing is at the heart of one of the city’s busiest thoroughfares and in close proximity to the Southwest Rapid Transitway, the University of Manitoba and a number of growing residential communities.

The property features more than 280,000 square feet of retail space with a weighted average lease term of 11.4 years. Current tenants include Save on Foods, Staples, Best Buy Canada, Westoba Credit Union, Westland Insurance, CIBC and a Winnipeg Regional Health Authority building.

“Few commercial properties in Winnipeg offer this attractive mix of tenants at a prime location,” said John Stroich, president and CEO of LS Properties. “We are pleased to add Pembina Crossing to our portfolio.”

Formed in 2005, LS Properties’ portfolio consists of high quality service retail, industrial and multi-family assets that are strategically located in its selected markets of Edmonton, Winnipeg, Saskatoon and Regina. To date LS Properties owns 42 properties, totaling over 1.9 million square feet with over 380 commercial tenants.

MLT Aikins lawyers Marla Levene, Patrick Keating and Brenden Drews were pleased to act as counsel to LS Properties on this transaction. Learn more about our Real Property practice group.