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Canadian Tire Sells, Leases Two DCs

(Akron/Tire Review) Canadian Tire Corp. completed the sale and leaseback of two distribution centers, located in Brampton, Ontario, and Calgary, Alberta, to H&R Real Estate Investment Trust in a $229 million (Canadian) deal.

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The leases run for 21 years, said Canadian Tire.

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The retailer said it will use the proceeds to “fund strategic initiatives.”

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