Crombie REIT is 41.5% owned by Empire Co. Ltd., the owner of Sobeys and Safeway supermarkets, and owns almost 290 grocery-anchored properties or distribution industrial space with 17.7 million sq. ft. across Canada. Major new developments include the reopening of Avalon Mall in St John’s, Newfoundland and Davie Street in Vancouver. Similar to Choice Properties, Crombie is moving into residential development with 2,027 units in Davie Street and two new developments in Montreal (Le Duke) and Oakville (Bronte village). It is developing its third customer fulfilment centre (CFC) for Empire’s Voilà ecommerce delivery rollout in Calgary following earlier rollouts in Toronto and Montreal.
Income Investor
Sorry, you do not have access to this content.Crombie remains a Buy as for its high occupancy, stable long-term relationship with its major tenant and shareholder Empire, and moderate growth in revenue from its development of its industrial and residential portfolio.- Gavin Graham
Interactive Performance Chart
CRR.UN was first recommended here on July 25, 2013