Ivanhoe Cambridge and the Cadillac Fairview Corporation Limited, co-owners of Galeries d’Anjou, announced today that the shopping centre will undergo a major, $86-million expansion and redevelopment — including a new, two-level 100,000-square-foot Simons department store and an extensively renovated Bay store. Already embraced by over 8 million shoppers per year, the revitalization of the centre will drive increased traffic and further secure Galeries d’Anjou’s position as the shopping destination for East-end Montreal and surrounding region.
The arrival of a Target store to replace the current Zellers outlet, along with a total makeover of common areas and a new food court, will complete the renaissance of Galeries d’Anjou.
The work will be undertaken in phases, beginning in the Fall of 2011 with the reLocation of the food court to an area near the soon-to-be Target store. That reLocation, along with the reconfiguration of certain Other commercial retail units, will make room for several best-in-class retailers that currently cannot be accommodated by the centre due to a lack of space.
The Target store is scheduled to open in Spring 2013 and the Simons department store, which will include 160 underground parking spaces, in the fall of 2013. When the project is complete, the expanded Galeries d’Anjou — strategically located at the intersection of Highways 40 and 25 — will have a gross leasable area of 1.14 million square feet.
“This expansion is very much in line with Ivanhoe Cambridge’s strategic plan, which calls for the continual improvement of the portfolio by redeveloping our properties,” said Jean Laramée, Senior Vice President, Eastern Region – Canada. As an equity partner in Galeries d’Anjou, we are proud to be associated with a project that will benefit our retail tenants — existing and new — while giving Montreal consumers improved access to world-class retailers,” Laramée added.
“This very sizeable investment in Galeries d’Anjou demonstrates our confidence in the future growth and economic well-being of Quebec and, in particular, the Montreal region,” stated Normand Blouin, Senior Vice President, Eastern Canada Portfolio, for Cadillac Fairview, co-owner and manager of the centre. Blouin noted that detailed market studies have confirmed that an expanded centre with a new Simons store will improve shopper demographics and significantly increase customer traffic.
“We are very excited about the prospect of bringing La Maisons Simons to Galeries d’Anjou,” stated company President Peter Simons. “The tremendous success of our established stores in the Montreal area has proved beyond doubt that Montrealers buy into our unique Simons value proposition — providing the hottest fashions in a refined atmosphere complemented by Simons legendary service.” La Maisons Simons is a family owned business in Quebec since 1840. It is the oldest private family run company in Canada with approximately 2000 employees.
“The Bay will be working with one of the world’s leading design firms to build a new store concept that will showcase top international brands from contemporary to high fashion,” said Bonnie Brooks, President and CEO, The Bay. “The updated store with its modern selection will create a whole new department store experience at Galeries d’Anjou.”
“Sears is proud to have been part of Galeries d’Anjou for 35 years and the new exterior facing we are completing this year will be a perfect fit with the mall’s redevelopment,” said Calvin McDonald, President and CEO, Sears Canada Inc. “We have made changes to our interior over the years and our recent renovation of the fashion floor demonstrates our commitment to providing our customers with a space that is easy to navigate and a pleasure to shop.”
Galeries d’Anjou, along with Fairview Pointe Claire, Promenades St-Bruno and Carrefour Laval comprise the “Montreal Fashion Centres’’. With over 925 stores, the Fashion Centres form a powerful network within the retail industry.
About Cadillac Fairview
The Cadillac Fairview Corporation Limited is one of North America’s largest investors, owners and managers of commercial real estate. For over 50 years, Cadillac Fairview has been leading the way in commercial real estate with innovative design, development and management.
Cadillac Fairview focuses on developing and managing high quality office properties and regional shopping centres in Canada and the United States, as well as international investments in real estate companies and investment funds. With a portfolio valued at more than $19 billion and nearly 49 million square feet of leasable space, Cadillac Fairview and its affiliates own and manage 87 properties across North America, including some of Canada’s landmark developments, such as Toronto-Dominion Centre, Toronto Eaton Centre, Pacific Centre, Chinook Centre and the Montreal Fashion Centres. .
Cadillac Fairview is wholly-owned by the Ontario Teachers’ Pension Plan, which invests to secure the retirement income of 295,000 active and retired teachers in Ontario.
The Cadillac Fairview Corporation Limited is one of North America’s largest investors, owners and managers of commercial real estate. For over 50 years, Cadillac Fairview has been leading the way in commercial real estate with innovative design, development and management.Cadillac Fairview focuses on developing and managing high quality office properties and regional shopping centres in Canada and the United States, as well as international investments in real estate companies and investment funds. With a portfolio valued at more than $19 billion and nearly 49 million square feet of leasable space, Cadillac Fairview and its affiliates own and manage 87 properties across North America, including some of Canada’s landmark developments, such as Toronto-Dominion Centre, Toronto Eaton Centre, Pacific Centre, Chinook Centre and the Montreal Fashion Centres. . Cadillac Fairview is wholly-owned by the Ontario Teachers’ Pension Plan, which invests to secure the retirement income of 295,000 active and retired teachers in Ontario.