Quance Plaza in Regina, Saskatchewan, 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, Staples, Kal Tire, Mr. Lube, Chuck E. Cheese’s and 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 sold-off four other properties this year and continues to manage the reconstruction of Kensington Crossing, a shopping plaza located in Edmonton. ReDev says that lease renewals on existing national tenants will continue to be a priority moving into the second half of the year.