Westcliff has acquired Edmonton’s Kingsway Mall, marking the Montreal-based real estate company’s return to Western Canada.

Financial terms were not disclosed.

Located at 109 Street and Kingsway Avenue, just north of downtown Edmonton, Kingsway is the city’s second-largest shopping centre after West Edmonton Mall. It spans 880,049 square feet on a 41.8-acre site and contains more than 160 stores and services.

The property had been owned and managed by Oxford Properties, the real estate arm of the Ontario Municipal Employees Retirement System, since 2000.

Westcliff said Kingsway attracts nearly seven million visitors annually and generates retail sales of $715 per square foot. Its tenants include Walmart, HomeSense, Marshalls, Shoppers Drug Mart, Aritzia, Sephora and Lululemon.

“Our return to Western Canada reflects our confidence in the Edmonton market and in the enduring value of retail destinations that bring people together,” Westcliff president Alan Marcovitz said in a statement.

Westcliff said it will work with the mall’s existing management and operations teams to maintain continuity during the ownership transition.

Kingsway opened in 1976. Founded four years earlier, privately owned Westcliff holds shopping centre, office, industrial, residential and hospitality properties across Canada and the United States.

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