More stores planned as Tecumseh Mall sells for $37M
Tecumseh Mall in Windsor, Ont. ( Alana Hadadean / CTV Windsor )
The new owner of Tecumseh Mall is revealing plans for the 45-year-old shopping centre.
Europro LP announced Friday the conclusion of a deal for the purchase of the mall from Kingsett Capital for a $37 million.
“This transaction secures our retail presence on the City’s east side and complements our existing real estate portfolio in Windsor,” said Europro senior property manager Nelly Horovitz in a news release. “We are focused on bringing our unique management skills to this asset and will continue the repositioning of the Mall initiated by the previous owner.”
Europro’s vision for the property includes a complete exterior retrofit, starting in 2019.
The company says complimenting this redevelopment will be the addition of local and nationally branded tenants, such as a new 40,000 square-foot Marshalls/HomeSense store, which is slated to open spring of 2019.
Other recent large format tenants include Giant Tiger, PetSmart and Sky Zone Trampoline Park.
“Recognizing that Windsor and Essex County is in a position of strong economic growth, with all sectors rebounding, we believe that investing in a unique mix of service, entertainment and retail will successfully position Tecumseh Mall as one of the market’s strongest retail leaders,” said Europro president Josef Jakubovic.
The mall was built in 1973 and redeveloped in 1985. A $16-million expansion was completed in 2001 and a $13-million renovation is ongoing.
There are currently 54 tenants.