Madison Pacific Properties Inc. has acquired 12 office/industrial properties located across Canada from Argo Ventures Inc.

Located in British Columbia., Alberta, Ontario and Quebec, the properties comprise office, warehouse and enclosed storage space located on a total of 98 acres of land. They are all leased to B.C.-based Taiga Building Products Ltd.

Avison Young brokered the transaction of the 540,000-square-foot portfolio sale, which is valued in excess of $60-million.

The transaction closed Sept. 12, and was made through a collaboration of eight Avison Young offices across Canada.

“This sale confirms there continues to be ample equity seeking diversified investment real estate in Canada, and was unique with only 13 per cent site coverage versus traditional industrial coverages of 40 to 50 per cent,” says Vancouver-based Avison Young principal, Robert Gritten.