Leyad has acquired Wheeler Park Centre in Moncton, N.B., for an undisclosed price.

The power centre includes 360,000 square feet of retail space and spans 40 acres of prime real estate. The shopping centre is anchored by a Loblaws super centre and contains many national tenants and brands, including the Brick, Old Navy and Staples.

The seller was not identified, but Choice Properties REIT acquired the mall in 2020 from Whittington Properties for $206 million.

Leyad is a Montreal-based commercial real estate development, investment and management company. The Moncton acquisition marks the firm’s expansion beyond Quebec.

“We’re elated about this investment and are on the lookout for further ventures in the region,” said Henry Zavriyev, Leyad’s owner, in a news release.

Zavriyev has no current plans for residential development but remains open to “diverse opportunities.”

Leyad said the acquisition follows about $100 million of recent purchases of Quebec properties spanning 800,000 sf.