CORNWALL – Dollarama will be a new tenant at Cornwall Square.
Partners Real Estate Investment Trust (REIT) announced Friday it has signed a Letter of Intent with Dollarama Inc. to lease 15,000 square feet of vacant space in the Water Street mall.
The location is expected to be part of the footprint of the former No Frills grocery store.
As of the end of June, the mall’s occupancy rate was just over 77 per cent and that will rise to nearly 83 per cent with the new dollar store.
The mall’s management believes Dollarama will help increase visitor traffic and “fulfill a market niche, which will result in the improvement of future leasing efforts” at the 250,000 square foot Cornwall Square.
Partners REIT spokesman Paul Harrs told CNW they would like to be open by Dec. 1, 2016.
Dollarama already has four locations in Cornwall (Vincent Massey Drive, Brookdale Avenue, Ninth Street East and Second Street East) but none in the downtown core.