Crombie REIT Acknowledges Empire's E-Commerce Update

Rhea-AI Summary

Crombie (OTC: CROMF) acknowledged Empire's January 28, 2026 announcement that Empire will wind down Customer Fulfillment Centre operations in Alberta, including the Calgary CFC located on Crombie property.

Crombie says its long-term lease at the 304,000 sq. ft. Calgary facility (part of a 2.46 million sq. ft. retail-related industrial portfolio) remains unchanged and the portfolio is fully occupied. Crombie expects no material financial impact from Empire's announcement.

Positive

• Existing long-term lease remains in place at the Calgary CFC
• 304,000 sq. ft. Calgary asset within a 2.46 million sq. ft. retail-related industrial portfolio
• Portfolio reported as fully occupied, limiting immediate vacancy risk

Negative

• Empire will wind down CFC operations in Alberta, and the Calgary CFC on Crombie property is included

New Glasgow, Nova Scotia--(Newsfile Corp. - January 28, 2026) - Crombie Real Estate Investment Trust (TSX: CRR.UN) ("Crombie") today acknowledged the announcement by Empire Company Limited ("Empire") regarding its plans to wind-down and close its Customer Fulfillment Centre (CFC) operations in Alberta while continuing to serve customers in Ontario and Quebec through its Voilà banner, supported by its existing CFCs.

As outlined in Empire's press release today, operations at its CFC in Calgary are included in the scope of its announcement. The Calgary facility identified is Crombie's 100%-owned CFC. Crombie's position at the site remains unchanged, with the existing long-term lease remaining in place. This asset represents 304,000 sq. ft. of GLA within Crombie's 2.46 million sq. ft. retail-related industrial portfolio, which remains fully occupied.

Crombie expects no material financial impact as a result of Empire's announcement.

About Crombie REIT

Crombie invests in real estate with a vision of enriching communities together by building spaces and value today that leave a positive impact on tomorrow. As one of the country's leading owners, operators, and developers of quality real estate assets, Crombie's portfolio primarily includes grocery-anchored retail, retail-related industrial, and mixed-use residential properties. As at September 30, 2025, our portfolio contained 306 properties comprising approximately 18.8 million square feet, inclusive of joint ventures at Crombie's share, and a significant pipeline of future development projects. Learn more at www.crombie.ca.

Media Contacts

Kara Cameron, CPA, CA
Chief Financial Officer
902-755-8100

Meghna Nair
Manager, Investor Relations
(905) 301-3746

This press release contains forward-looking statements that reflect the current expectations of management of Crombie about Crombie's future results, performance, achievements, prospects, and opportunities. Wherever possible, words such as "may", "will", "estimate", "anticipate", "believe", "expect", "intend", "plan", "continue", and similar expressions have been used to identify these forward-looking statements. These statements reflect current beliefs and are based on information currently available to management of Crombie. Forward-looking statements necessarily involve known and unknown risks and uncertainties. A number of factors, including those discussed in the 2024 annual Management's Discussion and Analysis under "Risk Management" and the Annual Information Form for the year ended December 31, 2024 under "Risks", could cause actual results, performance, achievements, prospects, or opportunities to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and a reader should not place undue reliance on the forward-looking statements. There can be no assurance that the expectations of management of Crombie will prove to be correct, and Crombie can give no assurance that actual results will be consistent with these forward-looking statements.

Specifically, this document includes forward-looking statements regarding the existing long-term lease for CFC3 and the anticipated financial impact to Crombie of Empire's announcement, which are based on Empire's publicly announced e-commerce strategy.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281992

FAQ

What did Crombie (CROMF) announce about Empire's Alberta CFC closure on January 28, 2026?

Crombie acknowledged Empire's plan to wind down Alberta CFC operations, including the Calgary site. According to Crombie, the long-term lease at the 304,000 sq. ft. Calgary facility remains unchanged and the portfolio stays fully occupied.

Will the Empire decision to close the Calgary CFC affect Crombie's lease at the site (CROMF)?

No immediate lease change is expected; Crombie says the existing long-term lease remains in place. According to Crombie, the lease position at the Calgary facility is unchanged despite Empire's operational decision.

How large is the Calgary CFC that Crombie (CROMF) says is unaffected lease-wise?

The Calgary facility is 304,000 sq. ft. of gross leasable area. According to Crombie, that asset is part of a 2.46 million sq. ft. retail-related industrial portfolio that remains fully occupied.

Does Crombie (CROMF) expect material financial impact from Empire winding down Alberta CFCs?

Crombie expects no material financial impact from Empire's announcement. According to Crombie, the long-term lease and full occupancy of the broader portfolio support that expectation.

Which markets will Empire continue to serve after the Alberta CFC wind-down mentioned by Crombie (CROMF)?

Empire will continue serving customers in Ontario and Quebec through its Voilà banner and existing CFCs. According to Empire's announcement acknowledged by Crombie, Ontario and Quebec operations are maintained.