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Chilliwack mall to get $11-million revitalization
Get ready for a whole new Chilliwack Mall.
Winners, Sport Chek and Reitmans are all moving into the old Walmart space, announced officials with Retrocom Mid-Market Real Estate Investment Trust Thursday morning.
Retrocom will be investing $11 million in revitalizing the shopping centre, including interior and exterior renovations.
"It is extremely exciting news for Chilliwack there's no doubt about that," said Pamela Law, property manager of Chilliwack Mall with Arcturus Realty. "We've been waiting a long time for this."
With Walmart vacating the premises last November to focus on the new superstore location at Eagle Landing, it allowed Chilliwack Mall management to totally reposition the centre by attracting major national tenants.
The trio of retail outlets will share the big space, with Winners occupying about 26,000 square feet, the new Sport Chek will cover 24,000 sq. ft. and Reitmans will be in a new 5,000 sq. ft. unit. All three new tenants will have their own exterior entrances, while Sport Chek will also have interior access into the mall.
"It's a wonderful opportunity to enhance the shopping centre and bring it into the 21st century. We're 30 years old this year and it's a good time for a fresh look," said Law.
The existing tenants are also thrilled by the announcement, she said.
"Chilliwack Mall is an excellent example of how Retrocom will continue to add value to its existing portfolio through redevelopment and repositioning opportunities," said Richard Michaeloff, chief executive officer of the REIT. "We look forward to the addition of Winners, Sport Chek and Reitmans to the shopping centre.
"These new retailers, along with our multi-million dollar investment, will solidify and enhance Chilliwack Mall's position in the marketplace."
The reno will feature new flooring, upgrades to the ceilings and washrooms, along with new exterior facades. Construction starts this summer, with improvements expected to be completed by second quarter of 2012.