Canadian Tire selling industrial property in Brampton for $258M

Canadian Tire is selling industrial property in Brampton for $258 million, which includes 1.5 million square feet of real estate no longer needed due to supply chain investments and consolidation. The sale will result in a pre-tax gain of approximately $240 million and is expected to close in the fourth quarter of 2024. Proceeds from the sale will be used to reduce debt, following a competitive bid process launched in the first quarter of 2024.

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