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DCM sells Oshawa warehouse for $24.1M

June 23, 2023  By PrintAction Staff

Data Communications Management (DCM) completes the sale and leaseback of its Oshawa, Ont., warehouse facility, which came along with Moore Canada Corporation (MCC).

Gross proceeds realized on the sale were $24.1 million, and, after deducting closing commissions, rent deposit, and other expenses, net proceeds of $23.1 million have been applied toward the $30 million balance outstanding on the company’s term loan with a Canadian chartered bank. The term loan had been entered into in connection with financing of the MCC acquisition.

DCM intends to use the Oshawa facility as a primary warehousing site to serve its clients in eastern Canada. In connection with the sale transaction, the  company entered into a 10-year lease of the facility. Under the terms of the lease, the company has two options to extend the term of the lease, each in five-year increments, for a total additional term of up to 10 years. The terms of the lease also include a capital improvement allowance of $1.5 million to be applied toward certain identified building maintenance and repairs.



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