NEWS
 
New: Hudson's Bay Sells Flagship Store
Flagship store on Queen Street sold to Cadillac Fairview for $650-million
0 0

Hudson's Bay Co. is selling two properties that house its Toronto flagship store and executive offices to Cadillac Fairview _ the company that operates the neighboring Toronto Eaton Centre.

HBC says it will receive $650 million for the retail complex and the adjoining Simpson's Tower, which is at the corner of Bay and Queen Streets.

Hudson's Bay will then lease back the properties for 25 years with options to extend nearly 50 additional years.

HBC also says its recently acquired Saks Fifth Avenue subsidiary will open a full-service store at the Yonge and Queen location, across the street from the Eaton Centre, and share space with the Bay store.

Saks Fifth Avenue will also open a full-service department store in the southwestern end of Toronto _ at Sherway Gardens mall, which is also owned by Cadillac Fairview.

Cadillac Fairview is the property management arm of the Ontario Teachers Pension Plan, with real estate holdings in several major cities.

Leave a comment:

· Subscribe to comments
Log in and be the first to comment!

DON'T MISS

GHOMESHI TRIAL

News and stories from the former CBC host’s sex assault trial

MILLARD TRIAL

Stories from the trial of Dellen Millard for the murder of Tim Bosma

SPECIAL: PTSD

Listen to the full documentary RIGHT HERE

NEWS ALERTS

STAY CONNECTED

Sign up for out Breaking News Alerts and receive up-to-the-minute coverage of the top stories of the day

 
0 0

Hudson's Bay Co. is selling two properties that house its Toronto flagship store and executive offices to Cadillac Fairview _ the company that operates the neighboring Toronto Eaton Centre.

HBC says it will receive $650 million for the retail complex and the adjoining Simpson's Tower, which is at the corner of Bay and Queen Streets.

Hudson's Bay will then lease back the properties for 25 years with options to extend nearly 50 additional years.

HBC also says its recently acquired Saks Fifth Avenue subsidiary will open a full-service store at the Yonge and Queen location, across the street from the Eaton Centre, and share space with the Bay store.

Saks Fifth Avenue will also open a full-service department store in the southwestern end of Toronto _ at Sherway Gardens mall, which is also owned by Cadillac Fairview.

Cadillac Fairview is the property management arm of the Ontario Teachers Pension Plan, with real estate holdings in several major cities.

Leave a comment:

· Subscribe to comments
Log in and be the first to comment!

Top stories

Police initially responded to a medical call