May 9, 2017; Liverpool, NS: During the May 9th Regular Council Meeting, Region of Queens Council voted to enter into a purchase and sale agreement with a large Canadian developer. The agreement will be entered into with Plaza Retail REIT for an 84,100 square foot parcel of serviced land at Queens Crossing in Liverpool.
“We are very pleased that this land is intended to be sold and developed as a retail location. Queens Crossing is prime retail real estate, very visible from the highway, and adjacent to the great programs, events, and services offered at Queens Place Emera Centre,” said David Dagley, Mayor of the Region of Queens Municipality. “The lands at Queens Crossing have been marketed for several years, with the aim of attracting new commercial development to the area, contributing to the economic prosperity of the Region.”
Plaza Retail REIT owns and manages retail real estate in locations in Central Canada and the Atlantic provinces. The developer has interests in 297 companies, and approximately 90.7% of their properties are anchored by national companies as tenants, with 7.8 million square feet of retail space across Canada. The company is listed on the Toronto Stock Exchange.
The Purchase and sale agreement is due to be executed on or before May 12, 2017, with an anticipated closing date by early October, 2017. At the time of the closing of the sale of the property, details may be released.