Leyad Announces the Acquisition of the North Sydney Mall, Nova Scotia

MONTREAL, Feb. 1, 2024 /CNW/ - Leyad Corporation, a leader in the Canadian real estate industry, announces its latest acquisition, the North Sydney Mall, a prominent retail destination at 116 King Street, North Sydney, Nova Scotia. This acquisition adds a substantial 182,031 square feet of prime retail space to Leyad's impressive portfolio and marks a new era in the company's expansion in the Maritime market.

This acquisition is particularly strategic given the mall's location in the Cape Breton Regional Municipality, the vibrant economic center of Cape Breton. The North Sydney Mall is a cornerstone of retail in the region, hosting major tenants like Walmart, Sobeys, Dollarama, and offices of the Government of Nova Scotia. A steady stream of consumers attracted by these tenants helped to covert the vast 21.23-acre site into a bustling shopping and business hub. The area's robust economy makes the North Sydney Mall a valuable addition to Leyad's portfolio, offering potential for increased consumer engagement and business opportunities.

Leyad is dedicated to enhancing the mall's role as a community landmark and driving force in the local economy. Plans for property improvements include revitalization of the mall's infrastructure enabling enrichment of the visitors' shopping experience. These developments are expected to not only benefit the mall's patrons and tenants but also contribute positively to the local community and economy. "This acquisition is not just about expanding our portfolio; it's about investing in the community. The North Sydney Mall stands as a beacon of economic vitality and community spirit in Cape Breton. Our vision at Leyad is to enhance this iconic mall, transforming it into not only a shopping destination but a center for community life and engagement." says Henry Zavriyev, Leyad's CEO.

With the acquisition of the North Sydney Mall, Leyad reaffirms its commitment to property management and development excellence. Leyad's track record in transforming properties into bustling community hubs positions the North Sydney Mall for a promising future, while reinforcing Leyad's status as a leader in the Canadian commercial real estate sphere.

Leyad is a leading real estate development company based in Montreal. Founded by Henry Zavriyev, Leyad specializes in the design, construction, and management of residential, commercial, and mixed-use properties. Its team of experts is dedicated to providing high-quality and affordable properties to families and communities. The company stands out for its commitment to innovation, efficiency, and environmental engagements.

SOURCE Leyad