Target, Walmart acquire leases for Scarborough...
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Sep 27, 2011  |  Vote 0    0

Target, Walmart acquire leases for Scarborough Zellers sites

Cedarbrae store to become a Walmart, fate of Bridlewood, Thermos Road unclear

Scarborough Mirror

One may soon become a Walmart but the fate of Scarborough's two other Zellers stores is still uncertain.

The Minneapolis-based Target Corporation acquired local Zellers leases at the Bridlewood Mall, Cedarbrae Mall and at Eglinton Avenue and Thermos Road in the Golden Mile district.

Last week, Walmart Canada announced it had bought the Cedarbrae store lease from its retail rival and said it expects to re-open that store as a Walmart in late 2012.

In May, Target said it had bought the lease for the Bridlewood Mall store, which it said could reopen in 2013 as one of its first Toronto locations.

It announced last week it had also acquired the Eglinton Avenue store lease in a group of additional store leases.

But on Monday, Amy Reilly, a Target spokesperson, said only a maximum 29 of the 84 stores on that list will be Target stores.

The rest could be sold to other Canadian retailers or back to their respective landlords, she said.

Even stores on the original list that includes Bridlewood Mall location won't necessarily re-open as Targets.

Negotiations with some of their landlords are continuing, said Reilly.

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