Manulife Investment Management acquires Market at Magrath, a 78,000-square-foot office/retail complex in Edmonton, Alberta
Edmonton—Manulife Investment Management has acquired Market at Magrath, a 78,000-square-foot office/retail complex located in one of Edmonton’s most affluent markets at 23rd Avenue NW and Rabbit Hill Road NW.
Built in phases between 2006 and 2008, the centre comprises a three-story office building with retail at grade and three freestanding retail pad sites. The complex is grocery shadow anchored and 99% occupied, with over 75% leased to national tenants.
Market at Magrath’s close proximity to higher income residential neighborhoods and several major transportation arteries (Anthony Henday Drive and Terwillegar Drive) in the southwest end of Edmonton makes this project a very attractive location for both local service retailers and suburban office tenants.