Newspaper article The Canadian Press

Anchor Store Expected to Help Largely Vacant Mall Attract Merchants, Shoppers

Newspaper article The Canadian Press

Anchor Store Expected to Help Largely Vacant Mall Attract Merchants, Shoppers

Article excerpt

Largely vacant Calgary mall signs anchor store

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The mostly empty New Horizon Mall just north of Calgary is announcing its first anchor tenant ten months after tenants began moving in.

Developer Eli Swirsky of The Torgan Group says that means the grand opening originally scheduled for October could take place -- at last -- this spring.

The mall's first anchor tenant is The Best Shop, which operates a store described as a "Chinese Walmart" in Toronto's Pacific Mall, a similar shopping centre opened by The Torgan Group about 20 years ago.

Unlike most shopping centres in Canada, about 70 per cent of New Horizon Mall's retail space has been divided into small spaces and sold to individual investors who have the option of leasing to others or operating their spaces themselves, while the rest is held by the developer for anchor tenants. …

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