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Real estate transactions: Lethbridge leading in industrial sales

Lethbridge is on the move. The Alberta city is having a particularly good year when it comes to industrial-related real estate transactions. In fact, it has been touted as an industrial real estate hot spot.  The second largest city in southern Alberta -- Calgary is the first -- is Agriculture and Agri-Food Canada's home. It is the largest agricultural research facility in the country.

Cavendish Farms has chosen Lethbridge for its head office and frozen potato processing plant. At $360 million, it's the city's largest manufacturing investor to date. About 400 people will be employed by the company once the plant is up and running and will need about 9,000 acres of potatoes. 

Potatoes are among the highest valued crops grown in the area. They have a cash income of about $3,500 to $4,000 per acre. Not far behind the humble spud, are pot plants. Fifty First Parallel bought 5 acres of land in an industrial park in Lethbridge to grow marijuana. The company has planned a three-phase facility with a target of producing more than 12,000 kilos of cannabis a year by 2020 and hen running at full speed, the plant should employ about 150 people. 

Whether investing in a family home, a business space or larger scale real estate transactions, an Alberta lawyer may be able to help in the processes involved. Real estate law is complex and having an experienced lawyer a part of the team may save purchasers or vendors from making some potential costly mistakes. A lawyer may be helpful in each step of the buying or selling journey.

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