The city is concerned for existing shopping centres
, but there is time to anticipate and plan for the competition," says Wong.
Grant Park Shopping Centre is a 385,000 square foot enclosed community shopping centre, located in the south west quadrant of Winnipeg in an area known as River Heights.
Northland Professional Centre is a 50,000 square foot professional office building immediately adjacent to Northland Village Shopping Centre, Calgary, already owned by the REIT.
President & CEO of RioCan, said, "We are pleased to have been able to acquire such quality shopping centres for the first transaction in our Joint Venture with Kimco.
Kimco is the United States' largest publicly traded owner and operator of neighborhood community shopping centres.
Centrefund is engaged in the acquisition and ownership ofneighborhood and community shopping centres
in Canada and theUnited States, and with the addition of the above noted threeshopping centres, owns 27 properties containing approximately 4.
Edward Sonshine, President and CEO of RioCan, said, "We are very grateful that we have been able to purchase, in one portfolio transaction, three supermarket anchored shopping centres
in two of the strongest real estate markets in Canada.
Langstaff Place Shopping Centre, a 38,129 square foot open shopping centre located in Woodbridge, north of Metropolitan Toronto.
0 million the title to the land under its 100 percent owned Northgate Village Shopping Centre in Calgary.
The shopping centres
contain an aggregate of approximately 10.
In Quebec, all five of the shopping centres being acquired, aggregating 667,000 square feet, are located in the Montreal urban area and all are supermarket anchored by Metro-Richelieu, Quebec's dominant grocery retailer.
It is of sufficient mass, all of the shopping centres are relatively new, having been constructed within the last 10 years, and each is a conventional retail facility anchored by Quebec's dominant supermarket retailer.