Montreal-based Westcliff has completed the acquisition of Kingsway Mall, a major regional enclosed shopping centre in Edmonton, marking the company’s return to Western Canada. The acquisition strengthens Westcliff’s national portfolio with a well-located, high-traffic retail destination serving a growing Edmonton market. Located just north of downtown, Kingsway Mall has served the community since 1976. “Kingsway Mall represents the kind of asset that has always been central to Westcliff’s approach,” said Alan Marcovitz, President of Westcliff. “A well-established property, deeply rooted in its region, with the ability to serve its community for generations to come.” The 41.8-acre property encompasses 880,049 square feet and features more than 160 stores and services, including Walmart Supercenter, HomeSense, Marshalls, Shoppers Drug Mart, Aritzia, Sephora, Lululemon and Browns Shoes. The centre attracts nearly seven million visitors annually and generates approximately $715 per square foot in annual retail sales. Westcliff sees significant potential to build on Kingsway Mall’s established position and strengthen its role as a regional shopping and community destination. The company will work with the existing management and operations teams to ensure a smooth transition while maintaining continuity for tenants and shoppers. Kingsway Mall was owned and managed by Oxford Properties, the OMERS real estate component.
Kingsway Mall, 109 Kingsway NW, Edmonton, Alberta T5G 3A6 (780/477-5756 www.kingswaymall.com)
Westcliff Management, 600 De Maisonneuve West Blvd., Suite 2900, Montreal, Quebec H3A 3J2 (514/499-8300 www.westcliff.ca)