Shopping Centre in Chatham goes up for sale
Real estate company lists shopping centre in Chatham-Kent, Ont for sale. (source Jones Lang LaSalle Incorporated)
WINDSOR, ONT. -- An indoor shopping mall in downtown Chatham is for sale.
A commercial real estate services company has listed the property Downtown Chatham Centre at 100 King Street West on its website.
U.S. based Jones Lang LaSalle Incorporated calls the property a significant redevelopment opportunity in a prominent location.
JLL states the 8.8-acre mall was built in 1982 and is about 30 per cent occupied.
Even before the pandemic maintaining retail in the shopping centre has been a struggle as it lost a major tenant when Sears closed.
Agents however point out the building is well situation with a 13 story residential tower, the boardwalk next door, as well they say a supportive local government with the new Community Improvement Plan (CIP) is in place that would provide incentives for a redevelopment.
The asking price has not been made public but bids are being accepted until March 15.
Information on the property and how to make a bid is available on the JLL website.