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Pro REIT buys Kanata, Ontario, property for C$49M

Canada's Pro REIT acquired a mixed-used industrial property in Ottawa's Kanata neighborhood for C$48.5 million, before closing costs, adding 279,388 square feet of gross leasable area to its portfolio.

The multi-tenant flex industrial building at 500 Palladium Dr. consists of office, research and lab facilities and is fully leased to tenants in the material sciences, defense, communications and medical technology space.