Cornwall Square to Welcome DollaramaSeptember 16, 2016
Cornwall Ontario – Cornwall Square has announced that Dollarama will shortly become part of the tenant mix at the iconic downtown shopping centre.
The popular discount retailer will occupy approximately 15,000 square feet of previously vacant space. Renovations are set to beging soon with a story opening planned sometime in the coming months.
“Management believes that the opening of Dollarama will help to both increase visitor traffic at Cornwall Square and fulfill a market niche, which will result in the improvement of future leasing efforts at the property,” says Jane Domenico, Chief Executive Officer at Partners Real Estate Investment Trust, owners of Cornwall Square.
Cornwall Square is a large enclosed mall that overlooks the St. Lawrence River in Downtown Cornwall. The mall is home to over 60 retailers and restaurants.
With approximately 1,050 locations across Canada, Dollarama is the premier Canadian dollar store operator offering a broad assortment of everyday consumer products, general merchandise, and seasonal items. The new Dollarama store will join other existing Dollarama locations in Cornwall, although the new store will be the first Dollarama within the downtown core.
About Cornwall Square
Cornwall Square comprises more than 250,000 square feet, and currently counts both Shoppers Drug Mart and Sears among its tenant roster. As at June 30, 2016, the property had occupancy of 77.4%, a level that will rise to 82.8% as a result of this transaction (based on Q2 2016 reporting results). The planned Dollarama store will occupy approximately 15,000 square feet of previously vacant space.
About Partners REIT
Partners REIT is a growth-oriented real estate investment trust focused on the expansion and management of a portfolio of 36 retail and mixed-use community and neighbourhood shopping centres. These properties are located in both primary and secondary markets across British Columbia, Alberta, Manitoba, Ontario, and Quebec, and comprise a total of approximately 2.5 million square feet of leasable space.
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