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IN BRIEF

Plazacorp Retail Properties

Plazacorp Retail Properties bought the 56,019-square-foot Tri-County Mall, in Yarmouth, Nova Scotia, for C$2.6 million ($1.9 million). Tenants include Empire Theatres, Price Chopper and Shoppers Drug Mart, but Tri-County also has 75,820 square feet of unfinished space. Fredericton, New Brunswick-based Plazacorp owns stakes in 42 centers in Québec and Atlantic Canada

Ivanhoe Cambridge

Montréal-based Ivanhoe Cambridge says the proceeds of its sale of 50 percent stakes in six Canadian shopping centers will go toward acquisitions and development in the United States and Europe. Ivanhoe, which sold the stakes to Germany-based Commerzbank, did not disclose the price, but local media put it at C$378.3 million ($287 million).

West Edmonton Mall

Triple Five’s West Edmonton (Alberta) Mall, the world’s largest, at 5.3 million square feet, opened an Aquatic Entertainment Center that hosts such events as athletic diving. The facility replaces the center’s former Dolphin Lagoon.

Sephora

Cosmetics retailer Sephora is opening its first Canadian store, a 5,100-square-foot unit in Toronto Eaton Centre, in November. The company provided no specific information about its expansion plans, but did say that it would look at “other major metropolitan areas across the country.” Sephora, which is owned by LVMH Moët Hennessy Louis, operates about 420 stores in the United States and Europe.

Kimco Realty

Kimco Realty Corp. bought the open-air Clarkson Crossing, Mississauga, Ontario, for $32.3 million, bringing its Canadian joint venture with Toronto-based RioCan to 33 centers. Through a venture with Austin, Texas-based Sandalwood Management, Kimco also owns $2.8 million worth of preferred stock in six enclosed, grocery-anchored centers in Québec. In addition, Kimco holds stakes in two Canadian open-air centers with Sterling Centrecorp, Markham, Ontario.

Sears Canada

By next summer Sears Canada, which operates 123 department stores across Canada, plans to open its first off-mall department store, in Charlottetown, Prince Edward Island. The company is also set to launch two off-mall specialty chains — Appliances & Mattresses and Coverings, a home decor retailer — in the fall. Beyond that, Sears Canada plans to open four additional Appliances & Mattresses units and two Coverings stores by next spring.

The Body Shop

The Body Shop International bought 94272 Canada, the company that operated 111 Body Shop Canada stores, for C$26 million ($19.7 million). Body Shop operates 2,019 units worldwide.

First Capital Realty

Toronto-based First Capital Realty, which currently owns about 100 centers in Canada, bought 50 percent of West Oaks Shopping Centre, a 270,000-square-foot community center in Abbotsford, British Columbia, for C$30 million ($22 million). The firm also bought the 88,000-square-foot Place Pierre Boucher, a neighborhood center in Longueuil, Québec, for C$8.3 million.

RioCan, TIAA-CREF, OMERS

A venture between the Ontario Municipal Employees Retirement System, RioCan Real Estate Investment Trust and TIAA-CREF, bought the 174,000-square-foot, open-air Markington Square Shopping Centre, Scarborough, Ontario, for C$17.8 million ($13.5 million). The RioCan Retail Venture Limited Partnership, as the venture is called, has acquired 1.9 million square feet of retail in Canada, spending C$110 million of its committed C$200 million, since it was formed last August.

West 49

Retail investment firm J.U.M. Capital, Burlington, Ontario, is buying the 52-unit West 49 sports apparel chain from Retail Dimensions for C$24 million ($18 million). The parties expect to close the deal in November. West 49’s stores, which specialize in skateboarding gear, are located across Canada.

Staples

Staples Business Depot broke ground on its 125,000-square-foot Canadian headquarters, in Richmond Hill, Ontario. The chain, which is owned by the U.S. office supplies company, expects to complete the project next fall. Staples Business Depot has 220 stores across Canada under its own name as well as Bureau En Grosse.

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