Polo Park’s owner set to buy nearby Target store
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Hey there, time traveller!
This article was published 13/05/2015 (4120 days ago), so information in it may no longer be current.
A buyer has been found for another former Target location in Manitoba — this one the newly-built store on St. James Street.
A spokeswoman for Cadillac Fairview, the Toronto-based company that owns the Polo Park shopping centre, has confirmed the company has purchased the Target-owned land and stand-alone building next to the mall for an undisclosed sum.
She said the deal is subject to approval by the Ontario court overseeing the windup of Target Canada’s operations.
The court is expected to deliver its ruling on May 19.
The spokeswoman said the company hasn’t decided whether the building will become part of the Polo Park mall, or part of the Plaza at Polo Park retail/office/restaurant development it and Winnipeg-based Shindico Realty Inc. are co-developing on the former Winnipeg Stadium property north of the shopping centre.
“Cadillac Fairview is always looking for opportunities to update our merchandising mix and create a premier shopping experience for our customers,” she said.
“We look forward to sharing our plans for the redeveloped space when appropriate.”
The Polo Park store is the third Target retail location in Winnipeg to be acquired in the past week.
Canadian Tire has purchased the lease for the former Target store in the Grant Park shopping centre, while Walmart has acquired the lease for the former Target location in the Southdale Centre on Fermor Avenue.
Those deals are also subject to court approval.
That leaves two former Target locations still unclaimed — one in the Kildonan Place shopping centre in Winnipeg, and one in the Shoppers Mall in Brandon.
— staff