Bullboard - Stock Discussion Forum Artis Real Estate Investment Pref Shs Series E ARESF

Primary Symbol: T.AX.PR.E Alternate Symbol(s): T.AX.UN | T.AX.PR.I

Artis Real Estate Investment Trust is an unincorporated closed-end REIT based in Canada. Artis REIT's portfolio comprises properties located in Central and Western Canada and select markets throughout the United States, including regions such as Alberta, British Columbia, Manitoba, Ontario, Saskatchewan, Arizona, Minnesota, Colorado, New York, and Wisconsin. The properties are divided into... see more

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Artis Real Estate Investment Pref Shs Series E > Large US office in Minessota re-leased to Thomson Reuters

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Post by EstevanOutsider on Jun 17, 2024 8:53pm

Large US office in Minessota re-leased to Thomson Reuters

was doing some due dilligence on Artis' US properties last night. One of their largest is 2900 Ames in Eagen, MN, a property built specifically for Prime Therapeutics.

after the covid scam, they decided they were going to continue workign from home so put the entire property up for sublease despite having a decade of lease left.

then came thomson reuters who took most of the building. artis has a very high quality tenant in one of their newest and largest office properties:

https://tcbmag.com/thomson-reuters-announces-new-office-location/

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Comment by Frankie10 on Jun 17, 2024 9:05pm

It feels like just yesterday when everything that happened was negative... it seems like the winds are shifting. :)

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Comment by DZtrader on Jun 17, 2024 9:20pm

Hey Este, thanks for the nice info. Haven't read the attached article but will assume they will just step into the sublet, which won't alter revenues but will certainly take away a vulnerable tenancy and replace it with a "name brand" tenant, which does enhance cap value if nothing else. Nice to hear some good news out of the office sector in any event.

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