- What Trinity Development Group acquired Sheridan Plaza from First Capital REIT
- Why TD Cornerstone Commercial Realty had the assignment
- What next The North York shopping centre is anchored by Walmart and Food Basics
A grocery-anchored shopping centre in Toronto has traded for $40m, Green Street News can reveal.
Trinity Development Group acquired Sheridan Plaza, at 2200-2202 Jane Street, from First Capital REIT through its Trinity Retail Fund 2. TD Cornerstone Commercial Realty had the assignment.
The 171,000 sq ft plaza was completed in 1965. It’s 100% occupied with a weighted average lease term of 4.4 years. Walmart and Food Basics anchor the centre, and other tenants include Black Creek Community Health Centre and Tim Hortons.
Near the intersection of Jane Street and Wilson Avenue in North York, Sheridan Plaza is within a kilometre of Highways 400 and 401, and within 5 km of the Weston and Etobicoke North GO stations.
More than 334,000 people with an average household income of $102,000 live within 5 km of the shopping centre.
First Capital REIT owns, operates and develops grocery-anchored retail properties across Canada. Helmed by president and chief executive Adam Paul, the Toronto-based company had $9.2bn of total assets at yearend 2024. The REIT recently offloaded 895 Lawrence Avenue East, a retail plaza with development potential, for $32m.
Trinity develops, manages and invests in retail and mixed-use assets across Canada. Headquartered in Toronto, Trinity is led by founder and executive chair John Ruddy. In December, the company sold Avalon Centre in Ottawa for $31.7m.
