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Vancouver Retail

ReDev Properties Sells Edmonton's Belmont Town Centre

ReDev Properties has sold Belmont Town Centre, a 56k SF shopping plaza at 13508 Victoria Trail in Edmonton that includes national tenants Bank of Nova Scotia, Tim Hortons, and Rexall, and is shadow-anchored by a Sobeys. The property, acquired by ReDev in 2006, attracted “significant interest,” according to president Richard Crenian, who noted it was sold to a “sophisticated institutional purchaser” from Western Canada at a “very favourable” price. This is the ninth property ReDev has owned, operated and sold since 20001 and the third the group, which is seeking to unload its entire portfolio, has sold in 2015.

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