RioCan Invests in $30 Million Redevelopment of RioCan Oakville Place in 2015

Pusateri's to anchor new development

OAKVILLE, ON, Sept. 17, 2014 /CNW/ - RioCan is set to break ground in June 2015 on the re-development of Oakville Place, led by the addition of a new Pusateri's Fine Foods. The opening of Pusateri's is part of a $30 million dollar renovation that RioCan Oakville Place will be commencing in spring 2015 and is scheduled to be complete late 2016. The addition of Pusateri's will enhance the sophisticated and first-class shopping experience the community has come to expect.  

"We are pleased to see that our recent investments in a thriving centre, with a strong loyal following of shoppers and tenants, has drawn the attention of a high quality retailer such as Pusateri's" says Edward Sonshine, Chief Executive Officer of RioCan. "Pusateri's brings their reputation of being one of the finest specialty food shops in the Greater Toronto Area to the retail mix at RioCan Oakville Place. With world-class offerings and superior, knowledgeable service this will certainly be something that the Oakville market will be happy to discover."

Centrally located in the well-established market of Oakville, Ontario, with visibility from major highways, RioCan Oakville Place is the only enclosed shopping centre in the area. Its attractive architecture, spacious and diverse food court, and desirable merchandise mix are all tailored to attract both frequent locals and visiting tourists. The dynamic renovation set for 2015-16 is expected to further position RioCan Oakville Place as a leading shopping centre south west of Toronto.

"We are pleased to be expanding Pusateri's to four stores in Ontario with our newest location at RioCan Oakville Place. This location will be the first Pusateri's in Oakville and the first to open in nearly five years," says Frank Luchetta, President of Pusateri's Fine Foods. "We travel the world exploring new and distinct culinary experiences to share with customers. It is our unmatched passion for food and commitment to quality that inspires the diverse and exceptional selection of our products, and we are so pleased to be bringing this experience to the Oakville community."

The RioCan Oakville Pusateri's location is expected to create approximately 150 jobs and is scheduled to open in time for the holiday season 2015.

About Pusateri's
World-renowned for exceptional products, superior quality, freshness and customer service: Pusateri's has built an enviable reputation as one of the best fine food shops today. Pusateri's staff has traveled the globe in search of the unknown, with the determination and desire to share their passion for food.  Family-owned and operated for over 45 years, Pusateri's remains a one-of-a-kind shopping destination for food enthusiasts. It has three locations in the Toronto area: Yorkville, Avenue Road and Bayview Village and a location opening at RioCan Oakville Place in late 2015.

About RioCan Oakville Place
RioCan Oakville Place is located in the Town of Oakville, at the corner of Trafalgar road and the QEW. The centre boasts attractive architectural features, a spacious food court, a sophisticated shopping experience and a desirable merchandise mix that currently features over 100 key retailers including Hudson's Bay, SportChek, H&M, Nine West, Mexx, Oliver & Bonacini Café Grill and many more. Visit riocanoakvilleplace.com for more information.

About RioCan
RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $14.9 billion as at June 30, 2014. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 340 retail properties containing approximately 81 million square feet, including 47 grocery anchored and new format retail centres containing 13 million square feet in the United States as at June 30, 2014. RioCan's portfolio also includes 16 properties under development in Canada. For further information, please refer to RioCan's website at www.riocan.com.

Image with caption: "RioCan Oakville Place announces today a $30 million redevelopment of RioCan Oakville Place including the first Pusateri's in the West GTA scheduled to open in time for the holidays 2015. (CNW Group/RioCan)". Image available at: http://photos.newswire.ca/images/download/20140917_C1923_PHOTO_EN_5673.jpg

SOURCE: RioCan

For further information: For more information or to arrange an interview with RioCan's management, contact: Sara Rezaee, com.motion Inc., srezaee@causeacommotion.com, 416-482-1357; For more information or to arrange an interview with Pusateri's management please contact: Shawn Rusich, Director, Public Relations, shawn@butterpr.ca, 416-822-5266

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