Leyad Announces the Acquisition of Wheeler Park Power Centre located in Moncton

MONTRÉAL, Oct. 30, 2023 /CNW/ - Leyad, a real estate development company owned by Henry Zavriyev, is pleased to announce its recent acquisition of Wheeler Park Power Centre, a prominent retail landmark located in Moncton, New Brunswick.

Wheeler Park Power Centre encompasses an impressive 360,000 square feet of retail space and spans over 40 acres of prime real in Moncton. The centre is notably anchored by a Loblaws Super Centre, and also features several other leading national brands, including the likes of the Brick, Old Navy, and Staples.

On the acquisition, Henry Zavriyev expressed, "We are very happy to invest in the Maritimes. We're elated about this investment and are on the lookout for further ventures in the region. The consistent growth of the population signals promising market potential for the Maritimes, and we are optimistic about what the future holds."

"While there are currently no plans for residential projects on the site, we're not closing any doors and remain receptive to diverse opportunities."

Beyond Wheeler Park Power Centre, Leyad has also expanded its portfolio with the recent acquisition of multiple commercial assets in its home province of Quebec. Among the highlights is a substantial 261,000 square-foot distribution hub in Cowansville, a vibrant 39,500 square-foot shopping plaza in Chateauguay with Jean Coutu as a prominent tenant, and a 115,000 square-foot distribution facility in Quebec City. Cumulatively, these acquisitions represent 800,000 square feet of commercial property purchased in the past month.

Henry Zavriyev added, "We think Canada has a bright future ahead and are actively in due diligence on other commercial purchases for Q4 2023."

Cumulatively, the recent acquisitions by Leyad represent a total consideration of approximately $100M, underscoring the company's commitment to fostering economic growth and enhancing community infrastructures.

Leyad is a leading real estate development company based in Montreal. It 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 buildings to families and communities. The company stands out for its commitment to innovation, efficiency, and environmental engagements.

SOURCE Leyad