Leyad has acquired a Quebec City mall from Choice Properties REIT and the Ontario Teachers’ Pension Plan for $66.5 million.

Located in the heart of Quebec’s capital, Mega Centre Lebourgneuf comprises 341,000 square feet of retail space. is located in the heart of provincial capital. The mall is situated at 5600 Boul des Gradins and its anchor tenants include Walmart.

“This acquisition represents our continued confidence in the retail market and our commitment to investing in properties that serve as vital community centres,” Henry Zavriyev, Montreal-based Leyad’s CEO, said in a news release. “We look forward to enhancing the shopping experience at Mega Centre Lebourgneuf and continuing to support the local economy.”

Leyad said the acquisition also reflects the company’s broader strategy to grow its presence in key markets across Canada, ensuring that the firm remains at the forefront of retail innovation and customer satisfaction.

As part of the acquisition, Leyad plans to implement a series of improvements, which will focus on modernizing the property, expanding the variety of retail offerings, and introducing new community-focused initiatives.

Leyad continues to show strong appetite for acquisitions in different parts of Canada. During the past year, the company has bought several diverse properties, especially in Winnipeg with retail and industrial of retail asset purchases.

Photo: CNW Group/Leyad