New Glasgow, Nova Scotia-based Crombie Real Estate Investment Trust (TSX: CRR.UN) has finalized a deal to acquire a mixed-use development site and adjacent land at 1215-1255 McCowan Rd. in Toronto's Scarborough neighborhood from Knightstone Capital Management.
Crombie paid $42 million for McCowan Square, a 61,000-square-foot, fully-leased strip center anchored by Canadian food retailer Sobey's discount banner, FreshCo. The new owner plans to redevelop...
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