Image Source: Šarūnas Burdulis

Image Source: Šarūnas Burdulis

ReDev Properties thrust back into the spotlight on securing new leases for two Alberta shopping plazas.

Mentions of ReDev Properties Ltd. securing two new substantial leases with Dollarama has made Bloomberg Business, The Street, and Morning Star in mid-October 2015. Canada’s largest dollar store operator is now to take 9,727 square feet at Kensington Commons and around 9,000 square feet at Inglewood Towne Centre.

Dollarama, which launched in 1992 now has over 900 locations across the nation. Kensington Commons is a 54,665 sq. ft. commercial property in Edmonton. Tenants include Real Canadian Super Store, Lucky Supermarket, Cora Restaurant, KFC, and World Health Club. ReDev is currently planning to add an additional 7,000 feet of space to Kensington Commons. Inglewood Towne Centre in St. Albert has more than 60,000 square feet. Tenants include Safeway, RBC, and Starbucks.

The new leasing news comes hot on the heels of the headlines announcing that ReDev Properties listing the high profile 105th Street Government Building in Edmonton, AB. With around 100,000 square feet of leasable space, 90% of which is government leased, the Government Building is an exciting acquisition opportunity, and a notable Edmonton landmark. ReDev acquired the property in 2005, invested over $1M in improvements, and placed the office building for resale with Colliers in September 2015.

These recent headlines and testimonials demonstrate how veteran insight and experience can add substantial value and returns to commercial real estate, and its investors, in all phases of the market. Of the new leases secured President of ReDev Properties Ltd., Richard Crenian says while there were complexities in the deals, he is greatly pleased in negotiating leases which are a “win-win,” and are “beneficial for each party.” They are a win for the buildings and their investors, for the significant nationwide tenants, other retailers and tenants in the buildings, and the communities in which they are located.

It is this passion for adding value and creating win-win solutions which is really the driver for Richard Crenian, and ReDev Properties. This is further evidenced by Mr. Crenian’s Donation Matching Challenge. The new matching gift fund pledges $100,000 in dollar for dollar matching for those making donations to Baycrest.

Canadian owned and operated ReDev Properties Ltd., is led by philanthropist and entrepreneur Richard Crenian who has completed over 2 billion dollars’ worth of deals since 1981.