Plaza Retail REIT Investing $21,000,000 in Fourteen Projects
FREDERICTON –Plaza Retail REIT announced Wednesday that it will invest approximately $21,000,000 in fourteen projects in Atlantic Canada, Quebec and Ontario.
The projects include a newly acquired ground-up project; a newly acquired redevelopment; six redevelopments of existing properties and six expansions of existing properties.
“We continue to grow and enhance our portfolio through high quality developments and re-developments that are leased to some of Canada’s most prominent retailers. Our proven ability to develop new ground-up projects, as well as redevelop and expand newly acquired and existing assets, distinguishes Plaza from most other public real estate entities competing to acquire existing or finished properties,” said Michael Zakuta, Plaza Retail REIT president and CEO in a release. “Upon completion, these projects will further diversify our asset base and increase our cash flows, building value for our unit holders.”
Plaza expects to add approximately 97,000 square feet to its portfolio through these projects, three of which are being developed with joint venture partners.
Check out the full list of projects below:
233 Main Street, Moncton, NB
Buchanan Dr. – Phase II, Charlottetown, PE
960 Cole Harbour Rd., Dartmouth (Halifax), NS
315 Bd. Ste. Anne, Beauport, QC
St. Jerome – Phase II expansion, St. Jerome (Montreal), QC
Bureau en Gros Plaza, Rimouski, QC
9025 Torbram Rd., Brampton (GTA), ON
190 Queen St. E., Brampton (GTA), ON
2795 St. Joseph’s Blvd., Orleans (Ottawa), ON
Millidge Ave., Saint John, NB
9 James St., Antigonish, NS
Spencer Dr. Plaza, Charlottetown, PE
Central Avenue Plaza, Greenwood, NS
University Plaza, Charlottetown, PE