Cadillac Fairview has sold 50% interests in CF Markville and CF Fairview Pointe Claire to KingSett Capital, expanding a three-mall partnership as the company diversifies its real estate portfolio. The transactions come amid documented financial pressures, Hudson's Bay redevelopment requirements and KingSett's proposed acquisition of First Capital REIT assets.
First Capital REIT unitholders have approved the company's sale to KingSett Capital and Choice Properties, marking a turning point for one of Canada's most influential retail real estate companies and raising questions about the future of key urban retail districts including Toronto's Yorkville.
First Capital REIT acquired as Westons expand retail empire, Skip the Dishes lays off staff and closes delivery service centres in Canada, Canada Post begins ending door-to-door delivery, Doug Ford slams city-run grocery stores, Foot Locker shuts Queen West store in Toronto, and other news.
Shoppers Drug Mart will open a 17,000 sq. ft. store at 700 University Ave in Toronto’s Discovery District, offering direct street access and PATH connection.
The womenswear brand has been available in limited distribution at Nordstrom and Saks Fifth Avenue. The new store signals confidence in brick-and-mortar retail at an important location.