MONTREAL, Dec. 4, 2013 /CNW Telbec/ - Ivanhoé Cambridge and Edmonton
International Airport (EIA) announced today that they have entered into
a conditional agreement to lease approximately 45 acres of land to
develop a retail outlet destination called "The Outlet Collection at EIA", as part of the EIA's Highway Commercial Project.
Ideally located directly adjacent to the Queen Elizabeth II Highway,
south of Airport Road, Ivanhoé Cambridge's The Outlet Collection at EIA will feature 32,500 m2 (350,000 ft2 ) of retail outlets offering value from over 85 renowned brands, all
housed under one roof. The Outlet Collection at EIA will offer customers a comfortable environment and a new level of
shopping experience that caters to all tastes and budgets.
"This project is an important step in the evolution of our new
development program," declared Paul Gleeson, Executive Vice-President,
Development, at Ivanhoé Cambridge. "With Vaughan Mills in Toronto
(opened in 2004) and CrossIron Mills in Calgary (opened in 2009)
successfully established, we have created the opportunity to evolve
this value-offering into a pure outlet format for other dominant
markets across Canada. Branded as 'The Outlet Collection,' the first
of these new projects, The Outlet Collection at Niagara, is to open to the public on May 15, 2014."
"This is great news. It means more shopping, entertainment and
hospitality options, not only for passengers, but for Greater Edmonton.
The airport is a self-funded not-for-profit corporation, so airport
revenue that is generated by leasing the land for this project will be
reinvested into building better air service for the Edmonton Region.
Ultimately, this will support more flights to more places", said Myron
Keehn, EIA Vice President of Commercial Development.
Edmontonians are the highest retail-spending citizens per capita in
Canada. With 7 million passengers a year, EIA is the fastest-growing
major airport in Canada. Airport traffic has increased by 60% over the
last 10 years and Edmonton's 1.2 million population is expected to grow
by 15% over the next decade.
Targeting a fall 2016 opening, both parties expect to be able to satisfy
the mutual conditions of the agreement in the first half of 2014, at
which time full project details will be announced.
About Ivanhoé Cambridge
Ivanhoé Cambridge is a world-class real estate company that leverages
its high-level expertise in all aspects of real estate including
investment, development, asset management, leasing and operations, to
deliver an optimal return for its investors. Through its multiple
subsidiaries, its assets in more than 20 countries were valued at over
Cdn$35 billion as at December 31, 2012. Ivanhoé Cambridge is a real
estate subsidiary of the Caisse de dépôt et placement du Québec (lacaisse.com), one of Canada's leading institutional fund managers. For more
information, visit ivanhoecambridge.com.
About Edmonton International Airport
Edmonton International Airport (EIA) is Canada's fifth-busiest airport
by passenger traffic and the largest major Canadian airport by land
area. Canada's fastest-growing major airport in 2012, EIA serves 7
million passengers per year and offers non-stop connections to more
than 50 destinations across Canada, the US, Mexico, the Caribbean and
Europe. For more information about Edmonton International Airport,
Image with caption: "The Outlet Collection at EIA will feature 350,000 ft2 of retail outlets offering value from over 85 renowned brands, all housed under one roof. (CNW Group/Ivanhoé Cambridge)". Image available at: http://photos.newswire.ca/images/download/20131204_C7496_PHOTO_EN_34348.jpg
SOURCE: Ivanhoé Cambridge
For further information:
Global: 1 866-456-3342
Edmonton International Airport (EIA)
Director of Communications & Marketing