- What Manulife has purchased Sunfish Shopping Centre for $36.4m
- Why Salthill Capital offloaded the property
- What next Construction of the final phase of the plaza is underway
Manulife has bought a nearly complete, multi-building retail plaza in Kitchener, Ont., for $36.4m, Green Street News can reveal.
Sunfish Shopping Centre, at 1270 Fischer-Hallman Road, was sold by Salthill Capital. Avison Young brokered the deal, which closed on Nov. 8.
The plaza has four buildings, three of which are complete, and is anchored by Food Basics and Dollarama. Other tenants include A&W, BMO and Pet Valu. The fourth building is nearing completion. Once finished, the plaza will have 20 retailers.
Two retail spaces remain available for lease in the fourth building. One is 1,200 sq ft, and the other is just over 600 sq ft.
The plaza is surrounded by four future mid- and high-rise mixed-use buildings that will add a collective 620 residential units to the area. Construction is underway by developer ONE Properties.
This is Salthill’s second notable disposition this month. The company also sold a fully leased shopping centre in suburban Montréal for $33.6m to Trinity Group. That deal closed on Nov. 4.
