Phase Two of $480-Million Expansion Launches
MISSISSAUGA, ON, Nov. 14, 2014 /CNW/ - Today, Square One is pleased to announce the opening of a newly renovated and expanded $60-million North side wing, a glittering addition to Mississauga's landmark shopping and entertainment destination offering exciting new stores, enhanced amenities and services to shoppers throughout the GTA. The opening of the North side wing marks the completion of the second phase in Square One's multi-phase redevelopment, which will increase retail space to 2.1 million square feet by 2016, representing a total investment of more than $480 million.
The new North side wing expands Square One's retail space by 78,000 square feet, bringing the total current retail footprint to 1.8 million square feet. The expansion includes a 35,000-square-foot Forever 21, the largest in Ontario, as well as a 16,000-square-foot Shoppers Drug Mart Beauty Boutique concept, first-to-market stores such as Brandy Melville and Saje, a new concept Moxie's Grill & Bar, and expanded services and amenities including valet parking.
Square One's new renovation enhances the area's streetscape, with its attractive architectural design, addition of green city space and a sparkling water fountain. Designed to be pedestrian-friendly, the North side wing offers shoppers enhanced walkability, and its entrance is strategically located just steps away from Mississauga Transitway and Square One GO Station, which services 15 million passengers every year – making it the second busiest GO station after Union.
"The significant investment in this renovation will elevate the shopper experience for the 24 million visitors we draw every year," said Greg Taylor, General Manager, Square One, Oxford Properties Group, which jointly owns Square One with Alberta Investment Management Corp.
Construction continues on the new La Maison Simons and Holt Renfrew stores scheduled to open in spring 2016 – part of the commitment of Oxford and co-owner Alberta Investment Management Corp. to deliver a premium shopping experience that offers top-notch retail tenants and unmatched variety.
"What we're doing at Square One expresses our vision for what the rest of our 11 shopping centres in Canada could look like," says Michael Kitt, Executive Vice-President, Oxford Properties Group. "Our vision for Square One is for it to be the North American model for world-class mixed use development."
About Square One Shopping Centre
With 360+ retailers including Apple, Michael Kors, Crate & Barrel, Harry Rosen, Zara and Whole Foods Market, Square One Shopping Centre, proudly managed by Oxford Properties, is the premier retail destination in west Toronto. Square One is owned by Alberta Investment Management Corporation (AIMCo), on behalf of its clients, and Oxford Properties Group. Dedicated to sustainability, Square One's 1.8 million square feet has been awarded and recognized for creating a balance between sustainable environmental programs and a unique shopping experience. Square One is located at 100 City Centre Drive, (HWY 10 & 403). As the central transportation hub for Peel Region, Square One is accessible via MiWay and GO Bus. Square One is a Designated Tourist Destination and is open on statutory holidays. For details visit www.ShopSquareOne.com or call 905-279-SHOP
Oxford Properties Group is a global platform for real estate investment, development and management, with over 1,400 employees and over $23 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 50 million square feet of office, retail, industrial, and multi-family and hotel properties. Oxford is the real estate arm of the OMERS Worldwide Group of Companies. For more information about Oxford, visit: www.oxfordproperties.com.
About Alberta Investment Management Corporation (AIMCo)
AIMCo is one of Canada's largest and most diversified institutional investment managers. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates independently from the Government of Alberta and invests globally on behalf of 28 pension, endowment and government funds in the Province of Alberta, including the Alberta Heritage Savings Trust Fund. For more information about AIMCo, visit www.aimco.alberta.ca.
Image with caption: "Mayor Hazel McCallion and the Oxford Properties Group at the grand opening of the North Side expansion November 13, 2014. (CNW Group/Square One Shopping Centre)". Image available at: http://photos.newswire.ca/images/download/20141114_C5182_PHOTO_EN_8015.jpg
Image with caption: "Mayor Hazel McCallion and Michael Kitt, Executive Vice President, Oxford Properties Group, cutting the ribbon to officially launch the North Side expansion. (CNW Group/Square One Shopping Centre)". Image available at: http://photos.newswire.ca/images/download/20141114_C5182_PHOTO_EN_8016.jpg
Image with caption: "Fashion personality, Lynn Spence, and model, Chantelle Winnie, help celebrate Square One's North Side expansion grand opening in style. (CNW Group/Square One Shopping Centre)". Image available at: http://photos.newswire.ca/images/download/20141114_C5182_PHOTO_EN_8017.jpg
SOURCE: Square One Shopping Centre
For further information: Media Contact, Erin O'Brien, Veritas Communications, [email protected], 416-646-1841