Leyad has acquired Lloyd Mall, a dominant regional shopping centre in Lloydminster, Alta., serving communities across eastern Alberta and western Saskatchewan.

Financial terms were not disclosed.

The enclosed mall contains more than 200,000 square feet of gross leasable area and underwent a full renovation in 2021. It is anchored by national retailers, including Safeway, Shoppers Drug Mart, Urban Planet and Dollarama, and also features retailers such as Bath & Body Works, La Vie en Rose, Boathouse and Quarks.

“Lloyd Mall fits squarely within our strategy of investing in high-quality retail assets that provide essential goods and services to their communities,” said Henry Zavriyev, CEO of Leyad. “Grocery and pharmacy-anchored centres now represent our highest-grossing tenant category, and this acquisition further strengthens that segment of our portfolio.”

Lloyd Mall is the only enclosed shopping centre serving a regional trade area of more than 195,000 residents, said Leyad. The surrounding economy is supported by agriculture and oil and gas industries and a young, growing population.

Montreal-based Leyad is a Canadian real estate investment and development firm with a portfolio that includes retail, traditional commercial and multi-residential properties.

Pictured: Lloyd Mall in Lloydminster, Atta.

Photo: CNW Group/Leyad