THUNDER BAY -- The owner of Thunder Centre on Fort William Road has announced the sale of the retail park for about $40 million.
Toronto-based Partners Real Estate Investment Trust, which acquired the site in 2012, says it has an unconditional agreement with a buyer that's expected to close on June 30.
The Thunder Centre property houses a combination of big-box stores and strip malls comprising 168,000 square feet of space.
In a news release, Partners REIT said that after repaying outstanding mortgages, its net proceeds from the sale will total over $12 million.
The identity of the new owner has not been released as yet.