Arista and Paradise Commercial have acquired Thornhill Square Shopping Centre, a 170,000-square-foot mixed-use retail property in Thornhill, Ont.

Financial details were not disclosed.

The shopping centre, located at 288, 298 and 300 John St., is anchored by Food Basics and Shoppers Drug Mart, and also includes tenants such as CIBC and Santorini Estiatorio.

Arista and Paradise said they plan to revitalize the property through a long-term investment strategy aimed at enhancing the tenant mix and modernizing the centre while maintaining its role as a community hub in one of Thornhill’s established neighbourhoods.

“This acquisition represents more than just a real estate transaction — it is a continuation of a long-standing relationship with the property and the community it serves,” a spokesperson for the ownership group said. “Thornhill Square has played an important role in the daily lives of local residents for many years, and we intend to honour that legacy through significant long-term investment.”

Arista and Paradise will work with McCOR Management on an active investment and leasing program focused on property improvements and attracting new tenants. The companies said they are committed to strengthening Thornhill Square’s position as a necessity-based shopping and service destination in Thornhill through targeted capital improvements and proactive leasing. The ownership group said its focus is on delivering long-term value for both tenants and the community.

The acquisition reflects the companies’ continued focus on community-oriented retail properties across strong Greater Toronto Area markets.

Brittany Heath, McCor’s broker of record, is co-ordinating leasing at the mall.

Pictured: Thornhill Square Shopping Centre in Thornhill, Ont.

Photo: Mallfinder.ca