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IN BRIEF

Sterling Centrecorp

Markham, Ontario-based Sterling Centrecorp has made several acquisitions lately. In a joint venture with an affiliate of Kimco Realty Corp. the firm acquired Wellington Southdale Plaza, an 87,000-square-foot neighborhood center in London, Ontario, for C$13.2 million ($10 million). The project is fully leased, with a Famous Players cinema and a Dairy Queen among its tenants. In addition, a U.S. subsidiary of Sterling and an affiliate of Kimco bought Mall of the Americas, a 798,000-square-foot power center in Miami, for $51 million. The anchors are an AMC theater, Home Depot, Marshalls, Old Navy and Ross Dress for Less. That Sterling subsidiary also paid $12.08 million for a 50 percent stake in The Plaza at Lake Park (Fla.), a 160,000-square-foot community center anchored by Kmart and Staples. A private investor group bought the other half.

Sears Canada

Sears Canada will relocate its 62,000-square-foot department store at Promenades Deux-Montagnes, in Sainte-Marthe-sur-lac, Québec, to a newly built, 100,000-square-foot facility at the nearby Place Sainte-Eustache (Québec) shopping center. The new store is tentatively scheduled to open in the fall of 2005. Toronto-based Sears Canada operates 122 department stores, 47 Sears Home stores, about 2,200 catalog-merchandise pickup facilities, 148 dealer stores, 12 outlets, 51 floor-covering centers, 110 Sears Travel offices and a nationwide home maintenance and installation network.

Market Mall

The C$90 million ($70 million) renovation and expansion of Market Mall, in Calgary, Alberta, opened in August. The 150,000-square-foot wing includes 60 new stores, an upgraded and expanded food court, underground parking and a children’s play area. Nonanchor gross leasable area now totals 900,000 square feet and contains 229 stores. Banana Republic, Eddie Bauer and Mexx are among the new tenants. Cadillac Fairview manages the property and co-owns it with Ivanhoe Cambridge.

Vaughan Mills

The grand opening of Vaughan (Ontario) Mills remains on track for Nov. 4. Anchoring the 1.2 million-square-foot shopping and entertainment center — The Mills Corp.’s first Canadian project — will be Designer Depot, a Hudson’s Bay Co. concept; H&M; Linens ’n Things; La Senza/La Senza Girl; and the first Canadian units of Bass Pro Shops Outdoor World and Burlington Coat Factory. Vaughan Mills is the first enclosed regional mall to be built in Canada in 14 years.

The Bay

The Toronto-based Bay department store chain put a new format into service at the Bayshore Shopping Centre, Ottawa, Ontario, as part of a nationwide effort to reposition its stores. The 180,696-square-foot Bay unit contains enlarged housewares and home electronics departments, a revamped jewelry department and a gift registry. It will also carry exclusive linen, china and housewares lines from designers Brian Gluckstein and Lynda Reeves. The Bay has also dropped its furniture department in the new format store.

Wal-Mart

Wal-Mart is in high demand in Amherstburg, Ontario, where two developers are trying to woo the discount retailer. Local developer David Petretta proposes tearing down half of the White Woods Mall to make way for a new Wal-Mart store and a department store, according to CanWest Interactive, a news service. Meanwhile, First Professional Management, a North York, Ontario-based development, management and leasing firm, is working on securing a site for Wal-Mart elsewhere in Amherstburg.

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