Oxford Properties has announced that Upper Canada Mall in Newmarket, Ontario, will see a $60 million investment in its former Target space. Construction has already commenced, and the redevelopment will open in phases throughout 2018.
The enclosed 998,000+ square foot mall features over 200 stores with two major anchors: Sears and Hudson’s Bay. Co-owned by Oxford Properties Group and CPP Investment Board (CPPIB) and managed by Oxford, Upper Canada Mall is one of the region’s most productive shopping centres, with an annual productivity per square foot in excess of $750, according to a recent Retail Council of Canada shopping centre study.
The announced redevelopment will include a Sport Chek replacement store, a new two-level feature court space, a 35,000 sq. ft. vertical expansion, and a unique 40,000 square foot first-to-market food market concept.
The mall’s current 26,400 square foot Sport Chek will be replaced with a one-level, 64,000 square foot location that “will focus on an enhanced overall customer experience”. Sport Chek has been opening technology-heavy flagships across the country in recent years, winning multiple awards.
The 40,000 square foot food market concept will be particularly interesting, featuring approximately 25 best-in-class market vendors with an assortment of fresh foods and prepared take-away options, including: produce, a butcher shop, fish monger, cheese shop, bakery, a juice bar, and a gourmet gift shop. Additionally, the food market will be anchored by yet-to-be-announced full-service restaurants, located at a Yonge Street-facing entrance. Oxford Properties describes it as being “a quality driven attraction with a strong focus on the local community and will create a unique food experience. It will be a place of convenience and comfort, and a reflection of simpler times. It will allow customers a one-stop shop, while complimenting the other amenities the mall continues to offer.”
The market also addresses a trend towards increased food and beverage in shopping centres. Oxford Properties Senior Vice President of Retail, Brad Jones, said, “Oxford is committed to enhancing the food and beverage offering across our national portfolio. The opening of the Food Market at Upper Canada Mall will create a new and elevated shopping experience for our customers, and we know it will be a welcome addition to the mall and the community.”
*top photo: Oxford Properties.
Canadian Retail News From Around The Web: February 22, 2017
