December 13, 2024

Canadian Tire Corporation sells Brampton industrial property to Prologis for C$258 million

Goodmans LLP represented Canadian Tire Corporation, Limited on the sale of its 90-acre industrial property in Brampton to Prologis Inc. for C$258 million.

Prologis is a real estate investment trust located in San Francisco, California. Canadian Tire Corporation is a retail company operating in the automotive, hardware, sports, leisure and housewares sectors.

The transaction will result in a pre-tax gain of approximately C$240 million on closing and the proceeds will be used to reduce borrowings associated with the Company’s October 2023 repurchase and consolidation of the Canadian Tire Financial Services business.

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