Westcliff has officially acquired (CF) Champlain Place in Dieppe, New Brunswick from Cadillac Fairview, strengthening Westcliff’s Canadian footprint with this premier retail destination, the company announced in a news release on Thursday.
“Champlain Place perfectly aligns with Westcliff’s strategy, marking our commitment to high-caliber assets in key growth markets,” said Nicolas D’Aoust, Vice President of Westcliff and Head of Leasing. “With impressive sales nearing 800$ per square foot and an outstanding roster of renowned tenants, this property embodies the quality and dynamism we seek to bring into our portfolio.”
As the largest super regional shopping centre in New Brunswick, Champlain Place occupies a central role in Greater Moncton’s retail landscape, said Westcliff.
“This premier location spans 784,372 square feet on a 60-acre site and hosts over 150 stores, including renowned tenants like Walmart, Bass Pro Shops, Cineplex, Sport Chek, H&M, LL Bean, Lululemon, TD Canada Trust and Sobeys (shadow). The centre’s strategic location in one of Canada’s fastest-growing Census Metropolitan Areas (CMA) allows it to serve a broad catchment area of 1.6 million people within a 2.5-hour drive,” it said.
“Surrounded by a diverse array of complementary services – hotels, restaurants, grocery stores, and essential amenities – Champlain Place offers a complete consumer experience while reinforcing the vibrancy and growth of the Greater Moncton area.”
Alan Marcovitz, Westcliff Group’s President and Chairman of the Board, added: “Champlain Place represents more than an addition to our portfolio; it demonstrates Westcliff’s dedication to being part of Canada’s regional communities. We’re thrilled to welcome our new team members, who will become an integral part of our team, ensuring the continued success and impact of Champlain Place on the local economy.”
Champlain Place was previous owned by Cadillac Fairview.
Westcliff is a privately owned real estate development and management company. It has over 50 years of experience in the development, construction, and management of large-scale real estate projects in Canada and the United States.
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