N.B. news: Champlain mall sold out of province [Video]

Nearly 800,000 square feet and 60 acres of New Brunswick’s landscape is now owned by a Montreal-based company.

As of October 31st, Westcliff Management LTD., a privately owned real estate development and management company, owns Dieppe’s Champlain Place Mall.

“I think they’re going to be the right people for the next life of the Champlain Mall, Champlain Place as they call it, and given that they’re out of Montreal, they really have a good understanding of our market culture that we have in our current market, so that’s good for our economy,” said Louis Godbout, the Executive Director for Expansion Dieppe.

Godbout says the previous owners, Cadillac Fairview who were based out of Toronto, are moving towards industrial and multi-residential investments post COVID-19.

In an email to CTV News Westcliff Vice-President and Head of Leasing, Nicolas D’aoust said they are committed to the long-term success of the mall.

“We will continue to elevate the shopping experience …