Henry Zavriyev Announces Major Redevelopment Milestones Across Leyad's National Portfolio

National redevelopment program delivers new entertainment destinations, grocery anchors and leading national retailers across Canada

MONTREAL, July 15, 2026 /CNW/ - Henry Zavriyev, Chief Executive Officer of Leyad, today announced a series of major redevelopment milestones across the company's national retail portfolio, highlighting the continued transformation of shopping centres into community destinations anchored by leading retailers, grocery operators and experiential entertainment concepts.

Henry Zavriyev meeting with local team members at Londonderry mall in Edmonton

The updates span multiple provinces and demonstrate the company's proactive leasing strategy as it continues to reposition space, including former Hudson's Bay and Peavey Mart locations, while introducing new concepts designed to increase foot traffic and strengthen long-term asset performance.

"Retail is evolving, and our responsibility is to stay ahead of that evolution," said Henry Zavriyev, Chief Executive Officer of Leyad. "Across our portfolio, we're bringing in the brands, experiences and services that today's consumers want while ensuring our shopping centres remain vibrant gathering places for the communities they serve."

Pen Centre (St. Catharines, Ontario)

Kingpin Bowling officially opened several months ago and has significantly outperformed initial expectations, generating record customer traffic and sales while quickly becoming one of the centre's leading entertainment destinations.

Construction is also well underway for Fairgrounds, a leading indoor pickleball operator, with the facility expected to open in the coming months. The addition reflects growing consumer demand for experiential and recreation-focused uses within shopping centres.

Adjacent to Kingpin, work is expected to begin shortly on Funvilla, a family entertainment destination that will further expand Pen Centre's offerings for children and families.

In addition, Leyad is finalizing agreements with several additional national retailers that will be announced at a later date.

"The former department store model is giving way to a much more dynamic mix of retail, entertainment and daily-needs uses," said Zavriyev. "Pen Centre is becoming a destination where people don't simply shop--they spend time, socialize, stay active and bring their families."

Londonderry Mall (Edmonton, Alberta)

Leyad made national headlines by securing the country's first Zellers location to occupy former Hudson's Bay space, becoming the first landlord in Canada to successfully backfill an HBC location with the revived retailer.

The company has now completed a lease with Fun For All, an established Alberta-based family entertainment operator, for its second location. The new attraction will further strengthen Londonderry's entertainment offering while serving the surrounding community, including the high school located directly across from the shopping centre.

Construction is also nearing completion on Laser City, providing another family-oriented attraction that complements the mall's growing mix of experiential tenants.

"Our objective is to create destinations that people visit regularly for reasons beyond traditional shopping," added Zavriyev. "Entertainment has become an essential part of successful retail environments, and Londonderry is an outstanding example of that strategy in action."

St. Albert Centre (St. Albert, Alberta)

At St. Albert Centre, Leyad has signed a long-term lease with Loblaws for a brand-new No Frills supermarket, with construction already underway.

The grocery addition will further strengthen the centre's daily-needs offering while increasing visitation from surrounding neighbourhoods.

"A strong grocery anchor creates consistent traffic that benefits every tenant in a shopping centre," said Zavriyev. "Combined with additional national retailers, these investments will significantly enhance St. Albert Centre's role within the community."

Kindersley Centre (Kindersley, Saskatchewan)

Following the bankruptcy of Peavey Mart, Leyad quickly secured a replacement tenant, signing a lease with Mark's to ensure the space remained productive with minimal downtime.

Construction is now nearing completion, with the retailer expected to open in the coming months.

"Our leasing teams move quickly because every vacant space represents an opportunity," said Zavriyev. "Whether responding to retailer bankruptcies or broader shifts in the market, our focus is always on creating long-term value for our tenants, our centres and the communities we serve."

Continuing to Invest in Canada's Retail Communities

The redevelopment initiatives form part of Leyad's broader strategy of investing in high-quality retail assets across Canada while proactively repositioning properties to meet changing consumer behaviour.

By combining grocery anchors, national retailers and entertainment-focused concepts, the company continues to strengthen the long-term competitiveness of its portfolio and reinforce its shopping centres as community gathering places.

"Successful retail real estate today requires vision, speed and execution," concluded Zavriyev. "Our team has consistently demonstrated an ability to identify opportunities, move decisively and create destinations that outperform. We're excited about what's ahead, and this is only the beginning of what we're building across our national platform."

About Leyad

Leyad is one of Canada's largest privately owned real estate companies, owning and managing a diversified portfolio of retail, industrial and residential properties across nine provinces. The company owns more than 12 million square feet of real estate and employs approximately 500 people nationwide. Through a disciplined investment strategy and long-term ownership approach, Leyad focuses on acquiring and enhancing high-quality real estate assets that serve communities across Canada.

SOURCE Leyad

Media & Leasing Inquiries: Gregory Castiel, [email protected], [phone]; Acquisition Opportunities: Eli Erdstein, [email protected], [phone]