QUEBEC CITY, Feb. 3, 2016 /CNW Telbec/ - Galeries de la Capitale, owned by Oxford Properties and Canada Pension Plan Investment Board, announced that an agreement has been reached with Mountain Equipment Co-op (MEC) whereby the company will establish a store at Galeries de la Capitale.
MEC will enjoy over 33,000 square feet of space, doubling its size. An investment will be necessary to renovate the space in preparation for this new tenant. "We are very gratified to have concluded an agreement with MEC" asserts Michel Brouillard, Oxford Vice-President of Retail Leasing. "Bringing MEC to our mall reinforces the shopping experience at Galeries de la Capitale, since they carry outdoors clothing, accessories and equipment for the whole family." The renovation work will start shortly and the opening is scheduled in fall of 2016.
Welcoming this major retailer, much appreciated by consumers, confirms the leadership and energy of Galeries de la Capitale. "We are delighted to provide our customers with an even bigger MEC, complete with full accessibility and parking facilities," adds Serge Rossignol, General Manager of Galeries de la Capitale. "Our ultimate goal is to provide today's consumers with brand-name stores that better address their needs and desires."
About Oxford Properties Group Inc.
Oxford Properties Group is a global platform for real estate investment, development and management, with approximately 2,000 employees and over $37 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 56 million square feet of office, retail, industrial, and multi-family and hotel properties. Oxford is the real estate arm of OMERS. For more information please visit www.oxfordproperties.com
About Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 18 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City and São Paulo, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2015, the CPP Fund totalled C$272.9 billion, of which C$34.3 billion represented real estate investments. For more information about CPPIB, please visit www.cppib.com.
SOURCE GALERIES DE LA CAPITALE
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