North Toronto – Enclosed Mall – Shops on Steeles

The Shops on Steeles is a mature enclosed mall at Steeles Ave. and Hwy 404 in the northeast part of Toronto. The project is currently anchored by Sears and Food Basics along with interior mall tenants that include Shopper’s Drug Mart, TD Canada Trust and Scotia Bank.  Retail pads on the property are tenanted by Montana’s, Tim Horton’s and Congee Queen. Sears closes at the end of April leaving available 150,000 square feet of retail space on two levels. The mall is about to undergo a major renovation and/or redevelopment and the landlord is also considering ‘de-malling’ the enclosed mall portion of the property with an eye on mid-box fashion, pharmacy and home décor. Plans could also include adding residential towers to the lands.  With a current population of over 250,000 people within a five kilometre radius of this property, and its close proximity to Hwy 404, the site lends itself well to a regional site for home improvement, furniture, fitness, fashion/apparel, sporting goods, etc.  James Schwartz, Todd Feinstein and Greg Rabin at Paracom Realty Corp. have listed the property and will be working closely with the owners to help strategize and execute a renovation and redevelopment plan for the project.

Paracom Realty Corp., 1 Eglinton Ave. East, Suite 601, Toronto, Ontario M4P 3A1 (James Schwartz – 647/749-1080,(Todd Feinstein – 416/483-1024 & (Greg Rabin – 416/309-8713