New owners buy Fairview Park mall in Kitchener [Video]

A mall in Kitchener is changing hands.

According to a news release put out on Monday, Westcliff, a real estate development and management company, has acquired Fairview Park mall.

Previously, the property was owned by Cadillac Fairview.

The mall was officially sold on Friday.

Westcliff owns more than two dozen properties in Quebec and two office spaces in Toronto.

“This acquisition reflects our confidence in the resilience of physical retail spaces, even in the digital age,” Nicolas D’Aoust, Westcliff’s vice president and head of leasing, said in the release. “By fostering environments that serve as gathering places and centers of commerce, we reaffirm our belief in the enduring value of human interaction and local engagement.”

Fairview Park mall has been open since 1966 and currently has over 100 stores and services available.