LeasingREIT PortfolioInvestor CentreExecutive Info
       
Our History
       
   

Atlantic Shopping Centres Limited was incorporated on February 4, 1964, and was established as a subsidiary of Sobeys Stores Limited to acquire, develop, and manage shopping centres in which Sobeys would be a major tenant. As a result of a corporate reorganization in 1976, Empire Company Limited acquired 96.3% of the voting shares of Atlantic Shopping Centres Limited.

  - our company
- history
- leasing overview
At that time, our portfolio included five shopping centres, two office buildings and a 50% interest in a shopping centre located in Halifax.

The first project following Empire's acquisition was a major expansion of Avalon Mall, initiated in 1976 and completed in late 1977. The following year, our interests in Newfoundland began to expand with plans to construct new malls in Clarenville, Mount Pearl, and Corner Brook. In addition to this, our holdings in Nova Scotia and New Brunswick were also increased with acquisitions in Halifax in 1978, Windsor in 1979, and substantial expansions and renovations to Highfield Square, Aberdeen Mall, Downsview Mall, and Sydney Shopping Centre.

Despite high interest rates and the economic pressures of the recession, Atlantic Shopping Centres Limited began a period of accelerated growth during the 1980s. In addition to the renovation at West End Mall, and the purchase of Penhorn Mall, seven other shopping centres were added to our portfolio in 1985, two in 1986 and one in 1987.

The purchase of Halifax Developments Limited and a 50% interest in Bridgewater Mall and East Side Plaza occurred in 1994.

Throughout the 1990s, Atlantic Shopping Centres Limited continued to improve its assets with major renovations to a number of properties.

The strong link to Sobeys continues through the management of the portfolio of Sobey Leased Properties.

On March 23, 2006, Crombie REIT completed its initial public offering and acquired 44 commercial properties totaling approximately 7,161,000 square feet from certain affiliates of Empire Company Limited.

Crombie continues to expand its portfolio and currently owns 135 properties totaling approximately 12,293,000 square feet in eight provinces.


 
Property Image


disclaimer   |   leasing space search
Copyright 2014 Crombie REIT
sign up to receive press releases
email