VANCOUVER, British Columbia, Feb. 06, 2018 (GLOBE NEWSWIRE) -- Madison Pacific Properties Inc. (TSX:MPC) (TSX:MPC.C) (the Company) reports that it has entered into a 50/50 joint venture with a residential developer to rezone and redevelop to residential and commercial use, a 4.5 acre commercial property the Company currently owns in Coquitlam, British Columbia. Rezoning and development of the property is subject to receipt of all necessary approvals, none of which are certain at this time.
About the Company: Madison Pacific Properties Inc. is a Vancouver-based real estate company with approximately $501 million in investment properties, comprising 1.8 million rentable sq. ft. of industrial and commercial space, of which, approximately 99% of the available space is leased.
| Contact: | Mr. Marvin Haasen | Mr. Dino Di Marco | |
| President & CEO | Investor Information | ||
| Telephone: | (604) 732-6540 | (604) 732-6540 | |
| Fax: | (604) 732-6550 | ||
| Address: | 389 West 6th Avenue | ||
| Vancouver, B.C. | |||
| V5Y 1L1 | |||