Station Mall Sold

8

Northern Ontario’s largest shopping centre has a new owner.

Algoma Central Corporation announced today that it has sold Station Mall, a large regional shopping complex located in Sault Ste. Marie, Ontario. The transaction closed on June 30, 2022.

ACC did not mention the price or the name of the new buyer. Another online news site reported the new owner as SM International Holdings, however that has not been confirmed.

Station Mall, a 555,000 square foot enclosed shopping centre located steps away from the St. Mary’s River, was the last of the Company’s real estate holdings in Sault Ste. Marie. The Company’s intention to divest of its commercial real estate portfolio was initially announced in 2015.

Since then, the Company has sold 15 properties in Sault Ste. Marie, Waterloo, and St. Catharines Ontario since 2015, directing proceeds from the sales to the renewal of the domestic dry-bulk fleet, expansion of its ocean self-unloader fleet, and to new investments in international shipping.

8 COMMENTS

  1. Most likely being the fact that the company that bought the mall at 30 million being not able to run any business in the mall for it being in “Stuck on off” In other words, either shut down from poor management or unsafe working conditions that placed this holding company in that status? yes it was even posted in there city that they have purchased the mall in our city.

  2. I doubt that after putting up 30 million they would even consider tearing the mall down. Perhaps Mr. Gray could ask them about their intentions?

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