(To read more on the industrial market, click here.)

WINNIPEG, CANADA-The largest industrial transaction of the year in Manitoba has closed with British Columbia Investment Management Corp. acquiring 46 buildings totaling 2.2 million sf. The transaction with Sun-X Properties Ltd., the largest industrial landlord in this Western Canadian city, also includes a prime 35-acre developable tract.

Bentall Capital, the management arm of Victoria, BC-based BCIMC, negotiated for the buyer. Representatives of the Bob Anjelic family, which founded Sun-X and has operated the company for 20 years, negotiated for Sun-X. Buyer and seller didn't disclose the acquisition price in a statement prepared by BCIMC. GlobeSt.com couldn't reach the parties by publication deadline.

However, local industrial brokers familiar with the Sun-X brand and most of the properties involved tell GlobeSt.com the industrial space probably had a closing price of at least $50 per sf. The 35-acre parcel would have gone for at least $75,000 per acre or $1.72 per sf, the sources estimate. They conservatively put the entire deal at an estimated $113 million.

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