ABBOTSFORD (NEWS1130) – Abbotsford is getting a new shopping centre. It’s a 600,000 square foot open air centre on Mount Lehman Road.
Speaking at the groundbreaking, Shape Properties president John Horton says they’ve already signed up a couple of big-name tenants and those include Wal-Mart and London Drugs.
Horton adds they’ve also got about 100,000 square feet of condition lease deals which they’ll announce more details about over the next couple of months.
As for the impact on smaller businesses, Mayor George Peary says each company has to carve out its own niche in the market. “It’s unlikely most retailers can compete on price with Wal-Mart, but maybe they can provide better service, a different product line. I mean, each business has to do well, what it does well.”
Peary says a development of this scale is huge for the city, adding they’ll get $6 million in development cost charges alone.