- What Montez sold Londonderry Mall for approximately $55m
- Why Leyad bought the Edmonton property
- What next Anchor tenants include Simons and No Frills
Montez Corp. has offloaded a mall in Edmonton for approximately $55m, Green Street News can reveal.
Leyad purchased Londonderry Mall, at 1 Londonderry Mall NW, in a deal that closed early this year.
The 780,000 sq ft property has over 100 tenants, including Champs Sports, Service Canada and Urban Planet. Anchor tenants include Simons, Fit 4 Less, No Frills and Shopper’s Drug Mart. Hudson’s Bay downsized its footprint in 2023, and the location will close before the end of June.
Londonderry Mall was completed in 1972 and renovated in 2017. At the intersection of 66 Street NW and 144 Avenue NW, it’s within 2km of Manning Drive NW, Yellowhead Highway and Canadian Forces Trail. It’s 7km from downtown Edmonton.
Montez is a real estate investor, developer and asset manager that invests on behalf of institutions and pension funds. Blake Hossack and Brian Muzyk are co-founders of the Toronto-based company.
Leyad is a real estate investment and development firm based in Montréal. Henry Zavriyev is president and chief executive.
The company is in the process of acquiring Niagara Pen Centre in St. Catharines, Ont., for $140m, and picked up St. Albert Centre in St. Albert, Alta., for $60m in March.
