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Canada  + Cross Border News + Ontario  | 

BentallGreenOak Sells Large Mall in London, ON

A large mall in one of Canada’s secondary markets has changed ownership in an off-market transaction.

Local developer Westdell has acquired the White Oaks Mall in London, Ont., from Toronto-based global investor BentallGreenOak, according to brokerage firm JLL and multiple media reports.

White Oaks comprises 893,405 square feet, of which 697,060 sf is leasable. The mall is anchored by a Walmart Supercentre and Hudson Bay department store.

Westdell has included the property in the portfolio posted on its website. However, BGO has not commented publicly.

Westdell intends to expand the property.

“It could be office, it could be retail or it could be residential – or it could be a mix of all three,” Iyman Meddoui, Westdell’s president, told CBC.

Nick Macoritto, a JLL executive vice-president, told the London Free Press that the mall was not listed for sale. Meddoui agreed to acquire the mall after the brokerage firm approached him.

JLL acted for both the buyer and seller, Macoritto indicated on LinkedIn.

Financial terms were not disclosed.


Inside The Story

BentallGreenOakMonte StewartWestdell

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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