Colliers is pleased to present the rare opportunity to purchase a regional enclosed shopping centre at 293 Bay Street in Sault Ste. Marie (“Station Mall”). With a gross leasable area of approximately 475,000 SF, Station Mall sits at the heart of Sault Ste. Marie’s downtown, occupying approximately 35 acres at the City’s waterfront on the St. Mary’s River. While a staple in the local community, Station Mall serves over 110,000 residents up to 150 km away and across the Algoma Region. Station Mall benefits from being located within minutes of the U.S./Canada border crossing at the Sault Ste. Marie International Bridge. Minimal retail competition stands in the way of the asset domestically and directly across the border, particularly for fashion retailers, which will result in renewed spending at Station Mall from Canadian and U.S. residents as lockdowns end and borders re-open. The property also boasts a number of national brands, including H&M, Sport Chek, Atmosphere, Scotiabank, Dollarama and Cineplex Galaxy Theatres.
Station Mall has been extensively renovated and modernized with major capital improvements having taken place over the last decade. Station Mall presents a fantastic opportunity for investors to own an asset of scale with significant upside in one of Canada’s most expansive trade areas.
Interested parties that have signed the Confidentiality Agreement
will be given access to the data room.