Lowe’s home improvement will take over the vacant two-storey space left by Target at Tillicum Centre shopping mall.
The big box, home improvement retail chain announced on Monday (May 11) it is taking over the leases of 13 vacant Target Canada locations and is buying Target’s distribution centre in Milton, Ont., for approximately $151 million.
The acquisitions came out of a real estate auction of Target assets.
“Since opening stores in Canada in 2007, we have developed a successful model for providing the Canadian customer with outstanding service and quality products for the home,” said Sylvain Prud‘homme, president of Lowe’s Canada. “These additional locations will accelerate our expansion across the country, enhancing our presence in Western Canada and strengthening our base in Ontario. We are excited to bring Lowe’s to more customers in more communities in Canada, further demonstrating our commitment to this important market.”
Lowe’s said the 13 stores will create about 2,000 jobs.
Canadian Tire will fill the vacant Target at Hillside Mall after it took on 12 of the Target stores at the same auction.