Westcliff Expands Canadian Portfolio with Acquisition of Fairview Park in Kitchener

Westcliff has announced the acquisition of Fairview Park, a leading shopping center in Kitchener, Ontario. This addition strengthens Westcliff’s footprint in high-growth markets, aligning with the company’s long-term investment strategy of acquiring properties that provide enduring value to their communities.

“Fairview Park exemplifies the qualities we prioritize in our portfolio: strong market presence, exceptional tenant offerings, and deep community roots. This acquisition reflects our confidence in the resilience of physical retail spaces, even in the digital age. 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.”

Nicolas D’Aoust, Vice President of Westcliff and Head of Leasing

“Kitchener-Waterloo’s robust economy, anchored by tech innovation and education, makes it one of Canada’s most dynamic markets. By integrating Fairview Park into our portfolio, we’re committing to preserving its legacy as a cornerstone of this thriving region while positioning it to meet the needs of its growing and diverse population.”

Alan Marcovitz, President and Chairman of the Board at Westcliff

About Fairview Park

Fairview Park has been a dominant retail destination in the Kitchener-Waterloo-Cambridge area since 1966, boasting over 113 stores and services across 731,916 square feet. With annual retail sales of $734 per square foot, the mall ranks among the top-performing shopping centers in Canada. Key tenants include Walmart, Sephora, Winners, SportChek, H&M, Aritzia, and The Bay, complemented by a diverse mix of fashion, dining, and entertainment options, including the region’s only Cineplex VIP theatre experience.

Kitchener itself is experiencing rapid growth, with a population increase of 6.1% in 2023, the highest among all Canadian metropolitan areas. As a center of innovation and education, the region attracts professionals, students, and families, creating a dynamic market for Fairview Park to thrive.

About Westcliff

Westcliff is a privately owned real estate development and management company that unlocks each property’s full potential. The success it enjoys today stems from over 50 years of know-how in the development, construction, and management of large-scale real estate projects in Canada and the United States.

Renowned for its commitment to building lasting relationships with its partners and customers, Westcliff’s reputation stands on in-depth industry knowledge and experience in all aspects of the business. From property acquisition to ground up development, asset repositioning & revitalization and from property management to leasing and financing, our team of over 500 identifies the best opportunities and works together to deliver results.

Contact:

Lysa-Marie Rochon
lmrochon@exponentiel.ca
+1 514 910 3664