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Yorkdale Shopping Centre Announces $301 Million Expansion

Apr 8 2013 12:00AM

Marketwire

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TORONTO, ONTARIO -- (Marketwired) -- 04/08/13 -- Yorkdale Shopping Centre, one of Canada's leading shopping destinations, today announced a new 298,000 square foot retail expansion that will be complete in the Fall of 2016. Construction of Yorkdale's new retail expansion will begin in January 2014.

Yorkdale has a track-record for being the entry point for international retailers entering the Canadian market. The new expansion will be anchored by a 188,000 square foot Nordstrom store. It will also house a diverse range of other retailers that will be announced closer to the expansion's completions.

"This isn't a matter of 'if you build it, they will come'. International brands and enthusiastic shoppers are flocking to Yorkdale and we're growing to meet market demands," said Anthony Casalanguida, General Manager, Yorkdale Shopping Centre. "The new expansion makes it possible for us to continue to provide the very best experience for our shoppers by bringing in the most in-demand retailers from around the world."

"We continue to be impressed by how Oxford and AIMCo are taking steps to make an already great centre even better. We feel fortunate to be part of this expansion at such a strong location, and look forward to the chance to compete for our customers' business when we open at Yorkdale," said Karen McKibbin, President of Nordstrom Canada.

This expansion comes hot on the heels of a $220 million and 145,000 square foot development that opened to the public in November 2012 and featured five first-to-Canada brands. Yorkdale is adding six additional new-to-Canada brands in 2013 including AllSaints, David Yurman, John Varvatos, Mulberry, White House/Black Market and Zara Home.

Owned by Oxford Properties Group and AIMCo, Yorkdale Shopping Centre has undergone four major renovations since opening in 1964. Yorkdale Shopping Centre completed a $110 million dollar expansion in 2005. Since then, the shopping centre has continued to improve its facilities and today serves as the unrivalled gateway for international retailers entering the Canadian market.

About Yorkdale Shopping Centre

With more than 250 shops and services Yorkdale Shopping Centre is Canada's premier shopping destination. Yorkdale recently underwent a $220 million expansion - the largest and most significant expansion in its history - growing to a total of 1.6 million square feet of retail space that features some of the world's best fashion, technology and luxury brands. Offering 7,400 parking spaces, valet parking and seating reservations at the Dine on 3 food collection, everything about Yorkdale is designed to enhance shoppers' experiences. Yorkdale is co owned by Oxford Properties and Alberta Investment Management Corporation (AIMCo) and managed by Oxford Properties Group. Yorkdale is located at 3401 Dufferin Street, off Allen Road, near the 401. For more information, download the Yorkdale app, visit www.yorkdale.com, or follow @YorkdaleStyle on Twitter, Facebook or Pinterest.

About Oxford Properties

Oxford Properties Group is a global platform for real estate investment, development and management, with over 1,400 employees and over $21 billion of real assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford has regional offices in Toronto, London and New York, and the company's portfolio includes approximately 50 million square feet of office, retail, industrial, multi-family and hotel properties. Oxford is the real estate arm of the OMERS Worldwide Group of Companies. For more information about Oxford, visit: www.oxfordproperties.com.

About Alberta Investment Management Corporation (AIMCo)

AIMCo is one of Canada's largest and most diversified institutional investment managers. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates independently from the Government of Alberta and invests globally on behalf of 28 pension, endowment and government funds in the Province of Alberta, including the Alberta Heritage Savings Trust Fund. For more information about AIMCo, visit www.aimco.alberta.ca.



Contacts:
Media Contact:
Media Profile
Jennifer Kaiser
416-342-1817
jennifer.kaiser@mediaprofile.com





Source: Marketwire


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