Square One Shopping Centre Commences $84 Million Redevelopment Project
MISSISSAUGA, ON, Feb. 14, 2013 /CNW/ - Renovations are underway at Square One Shopping Centre, as $84 million is invested into a major renovation of the common areas, food court and shopper amenities. The design vision aims to infuse exciting architecture and create a sense of place throughout. A palette of distinct finishes, colours and materials will be carried into the elements of the newly expanded food court and grand centre court.
The expanded new food court will open August 2013, offering guests an exciting new culinary experience and Western Toronto's first premium food court destination. With added seating, signature table wear, and unique food vendors, Food Central is guaranteed to exceed expectations. Featuring Canada's first existing food court converted to reusable table wear, glasses and cutlery, food court operations will significantly reduce waste and increase waste diversion rates.
"The resources invested in this redevelopment are a testament to Oxford Properties and Alberta Investment Management Corporation's commitment to Square One Shopping Centre" says Jean-Marc Rouleau, Director Retail, Oxford Properties. "When completed in November 2013, the redevelopment will solidify and expand Square One's retail position as the destination of choice for consumers and tenants alike."
Over the past few years, Square One has welcomed premium retailers such as Apple, Crate and Barrel, Coach, Michael Kors, Zara and Whole Foods Market - to name a few. With more exciting retailers opening in 2013, Square One's leasing vision will continue securing premium, best-in-class tenants. Lacoste is the newest addition (April 2013), following the much anticipated opening of Target (March 2013). "Square One currently boasts record high retail sales productivity at $775 per square foot which is a direct result of strategic leasing initiatives" says Elena Price, Director Marketing for Square One. "With many new and exciting retailers coming soon, this trend is forecasted to continue throughout 2013 and beyond. "
This November, Square One Shopping Centre celebrates four decades of retail with a vibrant and newly, renovated shopping centre. Square One will continue to be a place that embraces life full of excitement, diversity and sustainability.
About Square One Shopping Centre
With 360+ retailers including Apple, Michael Kors, Crate & Barrel, Harry Rosen, Zara and Wholefoods Market, Square One Shopping Centre, proudly managed by Oxford Properties, is the premier retail destination in west Toronto. Square One is owned by Alberta Investment Management Corporation (AIMCo), on behalf of its clients, and Oxford Properties Group. Dedicated to sustainability, Square One's 1.8 million square feet has been awarded and recognized for creating a balance between sustainable environmental programs and a unique shopping experience. Square One is located at 100 City Centre Drive, (HWY 10 & 403). As the central transportation hub for Peel Region, Square One is accessible via MiWay and GO Bus. Square One is a Designated Tourist Destination and is open on statutory holidays. For details visit www.ShopSquareOne.com or www.SquareOneRedevelopment.com.
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.
OMERS is one of Canada's largest pension funds with over $55 billion in net assets. It provides first-class pension administration and innovative products and services to over 420,000 members. Approximately one in every 20 employees working in the province of Ontario is an OMERS member. Through the OMERS Worldwide brand, our team of investment professionals uses a direct drive, active management investment strategy to invest in public and private market assets, including publicly-traded equities, fixed-income, infrastructure, private equity and real estate. For more information about OMERS, visit www.omers.com or www.omersworldwide.com.
Image with caption: "Square One Redevelopment (CNW Group/Square One Shopping Centre)". Image available at: http://photos.newswire.ca/images/download/20130214_C5546_PHOTO_EN_23709.jpg
Image with caption: "Square One Redevelopment (CNW Group/Square One Shopping Centre)". Image available at: http://photos.newswire.ca/images/download/20130214_C5546_PHOTO_EN_23710.jpg
Image with caption: "Square One Redevelopment (CNW Group/Square One Shopping Centre)". Image available at: http://photos.newswire.ca/images/download/20130214_C5546_PHOTO_EN_23711.jpg
SOURCE: Square One Shopping Centre
For further information:
Elena Price, Marketing Director
Square One Shopping Centre - Oxford Properties
Square One Management Offices
100 City Centre Drive
Mississauga, ON L5B 2C9