Business
Plaza Retail REIT & DewCor Announce Closing of Land Transaction to Costco in St. John's, NL
Plaza Retail REIT & DewCor Announce Closing of Land Transaction to Costco in St. John'...
About this update from Plaza Retail Reit
[{"type":"text","content":"\n\n\n\nPlaza Retail REIT & DewCor Announce Closing of Land Transaction to Costco in St. John's, NL\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nPlaza Retail REIT & DewCor Announce Closing of Land Transaction to Costco in St. John's, NL\nCanada NewsWire\nFREDERICTON, March 28, 2018\n\n\n\n− Site work has already begun on retailer's new store in Galway development − \n\n\n\nFREDERICTON, March 28, 2018 /CNW/ - Plaza Retail REIT (TSX: PLZ.UN) (\"Plaza\") and its joint venture partner DewCor (\"DewCor\") today announced they have concluded a land transaction with Costco Wholesale Canada Ltd. (\"Costco\") in The Shoppes at Galway outdoor retail centre (\"Galway\") in St. John's, Newfoundland. Costco will be relocating its store in the city to Galway with current plans to open to the public in Fall, 2018. \n\n\"We are pleased to welcome Costco to our Galway development,\" said Michael Zakuta, President and CEO of Plaza. \"We believe their relocation within St. John's will have a significant impact on shifting the retail focus to the west-end of the city.\" \n\n\"We are so pleased to welcome Costco and their extensive customer base to Galway,\" said Danny Williams. \"This represents a significant step in the progression of Galway, as Costco is a key anchor tenant for the area. We look forward to seeing this brand new, expanded store open for business this year.\"\n\nPart of a 2,400 master-planned community, the Shoppes at Galway comprises over 700,000 square feet and is Atlantic Canada's largest retail project currently under development.  In addition to Costco, Galway will consist of national and local retailers in the value, convenience, entertainment and food categories. Construction on the first phases of this development commence this summer, with openings slated for Spring, 2019.\n\nAbout DewCorDewCor is owned and operated by Danny Williams – businessperson, lawyer, and former Premier of Newfoundland and Labrador. Established in 2013, DewCor has several dynamic business ventures that consist o...