RioCan Real Estate Investment Trust has acquired a portfolio of three new format retail shopping centers in Quebec, which will comprise more than 1.9 million square feet of newly constructed retail space. The transaction is being completed in stages and RioCan has now completed the acquisition of 620,000 square feet for a purchase price of $113 million, the company said. Acquisitions of an additional 500,000 square feet are expected over the next two years as construction is completed. The user-owned shadow anchors, which aggregate approximately 800,000 square feet, are already completed. Mega Centre Notre Dame in Laval will comprise 700,000 square feet anchored by (user-owned) retailers Super C (Metro Richelieu) and Zellers. National tenants include Winners, HomeSense, Mexx, Blockbuster, Guess, Tristan, Penningtons and Fairweather. An additional 326,000 square feet will be completed and acquired by RioCan over the next two years such that RioCan's owned interes...
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