ReDev Properties Ltd. renews seven major property leases at Quance Plaza in Regina
TORONTO, June 21, 2016 /CNW/ – One of Regina’s top commercial properties, Quance Plaza, will continue to have long-term retail commitment as ReDev Properties Inc. (ReDev) recently secured seven key lease renewals. ReDev has been invested in the Saskatchewan market for several years, with Quance Plaza as one of the company’s key holdings.
Currently, 90 per cent of the plaza’s leasable square footage is occupied by major brand tenants. The plaza is situated in one of Regina’s most dominate retail corridors on Victoria Avenue East.
Recent lease renewal contracts in the plaza include:
- Saskatchewan Liquor and Gaming Authority – Quance Liquor Store
- M & M Meats
- Boston Pizza
- Kal Tire
- Mr. Lube
- Chuck E. Cheese’s
- Subway Restaurant
“Lease renewals signify a solid foundation for ensuring assets are stabilized for continuing long-term investment success,” said Richard Crenian, President of ReDev Properties. “Quance Plaza is well located and tenanted, with excellent potential for continued growth.”
ReDev has made significant market strides this year, including the sell-off of four other properties to date. The company continues to manage the reconstruction of Kensington Crossing, a shopping plaza located inEdmonton. Lease renewals on existing national tenants continue to be a priority for ReDev moving into the second half of the year.
Quance Plaza is located at 635 University Park Drive, Regina Saskatchewan (off Victoria Avenue East)
About ReDev Properties Ltd.
ReDev Properties Ltd. is a Canadian commercial real estate asset manager. Since 2001, the company has purchased and managed over 30 commercial real estate properties in Canada. ReDev Properties locates existing commercial real estate properties in markets that will ensure assets retain, and increase, in value for necessary stability and future growth. The company’s founder and President, Richard Crenian has managed over two billion dollars in real estate assets since 1981.