MONTREAL, May 26, 2011 /CNW Telbec/ - Ivanhoe Cambridge announces that
it has reached an agreement with Target Corporation (Target) according to which the U.S.-based retailer will assume the lease
obligations for 14 Zellers stores located in its Canadian shopping centres.
"We are pleased to welcome Target in our properties. The arrival of this particularly innovative retailer
in the Ivanhoe Cambridge portfolio not only confirms our position as an
industry leader, but also our shopping centres' drawing power for
international retailers. Target's retail offering perfectly complements our shopping centres'
fashion-focused market positioning. Its arrival in our properties will
undoubtedly help grow customer traffic even further, thus benefiting
all of our retailers," said Claude Dion, Senior Vice President and
Chief Operating Officer at Ivanhoe Cambridge.
Target will open stores at the following shopping centres:
Nova Scotia: Mic Mac Mall (Dartmouth)
Quebec: Carrefour St-Georges (Saint-Georges-de-Beauce), Carrefour
Rimouski (Rimouski), Les Rivières (Trois-Rivières), Place Laurier
(Quebec City), Place Vertu (Montreal)
Ontario: Burlington Mall (Burlington), Bayshore Shopping Centre
(Ottawa), Conestoga Mall (Waterloo), Devonshire Mall (Windsor)
Manitoba: Kildonan Place (Winnipeg)
Alberta: St. Albert Centre (St. Albert)
British Columbia: Oakridge Centre (Vancouver) and Metropolis at
For more information about Target Corporation, please visit www.target.com.
About Ivanhoe Cambridge
Ivanhoe Cambridge (www.ivanhoecambridge.com) is a pre-eminent Canadian-based global property owner, manager,
developer and investor, focusing on high-quality shopping centres
located in urban areas. Beyond its strong Canada-wide presence, the
Company is also active elsewhere in North America, Latin America,
Europe and Asia, where it owns a number of properties either by itself
or through joint ventures with prominent real estate partners. Abroad,
Ivanhoe Cambridge also holds interests in several shopping centre
development and management companies and maintains offices in Europe,
Latin America and Asia.
Its real estate portfolio consists of more than 44 million square feet
(4 million square metres) of retail space and includes 70 regional and
super-regional shopping centres. As at December 31, 2010, the market
value of Ivanhoe Cambridge's assets reached CAD$13.5 billion.
Headquartered in Montreal, Quebec, Canada, Ivanhoe Cambridge is part of
Ivanhoe Cambridge Group, the real estate subsidiary of the Caisse de
dépôt et placement du Québec. The Group's assets are spread across 24
countries, and as at December 31, 2010, their total market value
exceeded CAD $30 billion.
SOURCE IVANHOE CAMBRIDGE
For further information:
Communications and Public Affairs, Ivanhoe Cambridge