New Te­cum­seh Mall own­ers promis­ing changes

Windsor Star - - NEWS - DAL­SON CHEN —with files by Trevor Wil­helm

Te­cum­seh Mall has new own­ers — and a pend­ing new look. Ac­cord­ing to an an­nounce­ment Fri­day, com­mer­cial prop­erty man­age­ment com­pany Euro­pro ac­quired the mall from King-Sett Cap­i­tal for $37 mil­lion.

“It’s re­ally ex­cit­ing times,” said mall gen­eral man­ager De­bra McVeety.

“Euro­pro, they’re ter­rific own­ers, and we’re re­ally happy to have them. I think this is the kind of owner that is go­ing to do some things with this prop­erty that we haven’t seen in the past, so I’m very happy about that.”

In a me­dia re­lease, Euro­pro rep­re­sen­ta­tives said they will con­tinue the ef­forts of the pre­vi­ous owner to “suc­cess­fully po­si­tion Te­cum­seh Mall as one of the mar­ket’s strong­est re­tail lead­ers.” “We are com­mit­ted to fur­ther in­vest­ment in Te­cum­seh Mall and this com­mu­nity,” said Euro­pro pres­i­dent Josef Jakubovic. McVeety and re­tail man­ager Kata­rina Tay­lor will con­tinue in their po­si­tions un­der the new own­er­ship. Other prop­er­ties owned and man­aged by Euro­pro in­clude 1 River­side Drive West (pre­vi­ously known as the Can­derel Build­ing) and 300 Ouel­lette Ave. (home of the Wind­sor Star). Euro­pro’s vi­sion for Te­cum­seh Mall in­cludes a “com­plete ex­te­rior retro­fit,” to be­gin in 2019. Last month, Gi­ant Tiger and PetS­mart opened new re­tail lo­ca­tions at Te­cum­seh Mall. Mar­shalls/Home­Sense is sched­uled to be­come a ten­ant next year on the side of the mall for­merly oc­cu­pied by Sobeys.

Te­cum­seh Mall cur­rently has 54 ten­ants. The prop­erty boasts a to­tal of 392,000 square feet of leasable space, and is in the midst of a $13-mil­lion ren­o­va­tion in­volv­ing re­de­vel­op­ment of the for­mer Zellers space.

“There’s been a lot of work done on this prop­erty and a lot of ded­i­cated peo­ple that have brought th­ese deals to life,” said McVeety. Other “key ten­ants” are GoodLife Fit­ness, LCBO, Shop­pers Drug Mart, Dol­larama and Sky Zone Tram­po­line Park. McVeety said there are still some empty spa­ces in the shop­ping cen­tre that need to be filled. “Right now it’s re­ally im­por­tant for us to get the larger pieces of the shop­ping cen­tre, the boxes, leased up,” she said.

“And we’ll con­tinue to con­cen­trate on the in­te­rior of the shop­ping cen­tre.”

The mall was first built in 1973, re­de­vel­oped in 1985, and un­der­went a $16-mil­lion ex­pan­sion in 2001.

NICK BRAN­CAC­CIO

The sale of the Te­cum­seh Mall at Lau­zon Road and Te­cum­seh Road East to man­age­ment com­pany Euro­pro for $37 mil­lion is be­ing hailed by the mall’s gen­eral man­ager as “re­ally ex­cit­ing times.”

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