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Tuesday, July 25, 2006

Bedding, Décor Retailer setting up shop in plaza development

Two more tenants expected for Malpeque Road development.


Construction of the new plaza development on Malpeque Road should be completed by January, says APM president Tim Banks.

So far, Linen and Things, a US-based bedding and décor retail store, and a liquor store relocating from the Charlottetown Mall, are the only confirmed tenants.

The plaza, located adjacent to Sears, will also house two additional tenants yet to be announced.

The liquor store is scheduled to open sometime in August, while all other stores should debut next January, Banks said.  Earlier this year, the PEI Liquor Control Commission announced plans to move the liquor store from the mall to the Malpeque Road plaza.

This will be the first Linens and Things on Prince Edward Island, and just the second in Atlantic Canada. “Construction of the building is about 80 per cent complete and should be completely finished by January 1.” Banks said in an interview Friday.  “Everyone should be occupied by then and ready for business,”

Banks hopes Sears will serve as a strong anchor for the new 42,000 square-foot plaza.  Furthermore, he said contrary to some public opinion, the new Sears is doing “extremely well” and should successfully draw customers to both facilities.

Sears and the upcoming plaza are both part of the Royalty Power Centre, which is owned by APM.

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