Crombie REIT

We’re pleased to share that Crombie has recently been selected for several industry-leading employer awards! We were named as one of Nova Scotia's Top Employers late in 2023, and this year we’ve received Atlantic Canada’s Top Employers and Canada’s Top Small & Medium Employers (SMEs)! Read more about these awards and why we’ve been chosen as an exceptional workplace: https://lnkd.in/ewWEx4-6 #topSME #TopEmployers2024 #ACTopEmployers

It’s been another sun-soaked, fun-filled summer with Crombie’s fourth Summer Wellness and ESG Challenge! We had 40 teammates dive into this summer’s challenge for a chance to win a wellness day off. All participants were encouraged to complete 45 of the eligible activities, which ranged from taking meetings outside, to walking, biking, or carpooling, and even limiting food waste – check out the photos of our team taking part!

We are pleased to welcome Vivek Sood to Crombie’s Board of Trustees! Vivek spent the last 25 years of his career with Empire and Sobeys Inc., where he held various senior positions, including Vice President, Finance & Administration, Senior Vice President, Pharmacy Group, and Executive Vice President, Related Businesses. Prior to retiring in July 2024, Vivek was a member of Empire’s Executive Committee and also Executive Sponsor of Empire’s Diversity, Equity and Inclusion strategy, as well as their Enterprise Resource Planning initiative. Vivek holds a Bachelor of Commerce degree from Dalhousie University and a Master of Business Administration from Saint Mary’s University. He received his Chartered Financial Analyst Designation in 2004 and completed the ICD-Rotman Directors Education Program in 2021. In 2020, Vivek was named CEO of the Year by Atlantic Business Magazine and was inducted into their Business Hall of Fame in 2023. Raised in Crombie’s hometown of Pictou County, Vivek is a strong believer in the power of community and has dedicated much of his career and personal time to developing future leaders, enriching communities, and building partnerships, including various Board roles. He currently serves as Honorary Lieutenant-Colonel of 1st (Halifax-Dartmouth) Field Artillery, Royal Canadian Artillery (RCA) Regiment. Visit our website for more information: https://lnkd.in/da2pqMB6

Congratulations to our strategic partner on the opening of their newest Farm Boy in Burlington! Learn more here: https://lnkd.in/edwnRPMa.

We would like to congratulate Charlee Gerrior, Advisor, People & Culture, on achieving the RPR (Registered Professional Recruiter) designation through the Institute of Professional Management. As a result of successfully completing all three program modules and a written exam, Charlee is officially a Registered Professional Recruiter through the Association of Professional Recruiters of Canada (APRC). For those who don't know Charlee, she is a valuable member of the Crombie team. Not only does she embrace our guiding values and winning culture in her day-to-day, but she is the first face (or voice) potential employees interact with when applying to Crombie. Thank you, and way to go, Charlee!

On Wednesday, Crombie shared its results for the second quarter ended June 30, 2024. "Our strategic focus remains on value creation, prioritizing our solid financial position and prudent approach to capital allocation, while advancing key initiatives," said Mark Holly, our President & CEO. "In the second quarter, we received a positive trend change to our credit rating, engaged in acquisition and disposition activity, and invested in our development program, unlocking embedded value and growth throughout our grocery-anchored portfolio." Strong leasing activity this quarter contributed to an increase of 3.4% in same-asset property cash NOI and normalized FFO per unit growth of 6.7%. We secured renewal spreads of 9.6% on 293,000 square feet of GLA, with 89,000 square feet committed at $21.34 per square foot —19% above our current in-place rent while maintaining a robust balance sheet with ample liquidity and leverage ratios within target ranges. Looking ahead, we remain dedicated to providing attractive returns and sustainable growth for our Unitholders. Read more about Crombie's Q2 results here: https://lnkd.in/enXDwYqy

We are pleased to announce that Kara Cameron has been appointed as Crombie’s Chief Financial Officer. Kara has been serving as Interim CFO since February 2024, and has held many progressively senior financial leadership roles throughout her career, including five years as Crombie's Vice President, Accounting and Financial Reporting. Since joining Crombie in 2019, Kara has been an integral part of our financial leadership team, known for her strategic thinking, and steadfast commitment to our financial strength. As CFO, Kara will remain focused on strengthening Crombie's overall financial position, delivering value to our Unitholders, and ensuring we are well positioned to deliver our strategy of sustained growth. Full press release available here: https://lnkd.in/eXEcCEy6

Prime Leasing Opportunity at Uptown Centre! Unit 0140 at Uptown Centre in Fredericton is now available and offers 6,130 sqft of versatile space perfect for your business needs. Nestled among a strong mix of national retailers including Sobeys, Marshalls, GoodLife, Staples, Best Buy, and PetSmart, you’ll be sure to benefit from the continuous stream of shoppers visiting these well-known brands. Don’t miss this opportunity to position your business alongside leading brands in a thriving commercial property! Contact Adam Ross for more details at adam.ross@crombie.ca or (416) 458-4609.

In case you missed July's top story: In conversation with Sustainable Biz Canada, Arie Bitton highlights Crombie's robust ESG program and key program milestones. Read below!

At Crombie, we understand that one size doesn’t fit all, and that’s why we’re proud to have Flexible Work Arrangements. Our FWAs empower team members to collaborate with leaders in crafting personalized work schedules that benefit both the individual and the organization. Our ultimate goal? To foster a culture of flexibility, where the focus is on the quality of work rather than when or where it gets done. Join us in embracing the future of work with confidence and flexibility! See current opportunities here: https://lnkd.in/ePiT93du #CrombieCulture #LifeAtCrombie #LoveWhereYouWork