PLAZACORP ANNOUNCES FOUR NEW PROJECTS
September 13 2010 - 4:00PM
PR Newswire (Canada)
FREDERICTON, Sept. 13 /CNW/ -- FREDERICTON, Sept. 13 /CNW/ -
Plazacorp Retail Properties Ltd. (PLZ:TSX Venture) announced today
that it will develop three new retail properties and has acquired a
fourth property for re-development. Two projects are located in
Quebec, one in Newfoundland and one in Ontario. In all, the
Corporation will be investing approximately $8 million for its
share of these four new developments and will add approximately
135,500 square feet to Plazacorp's portfolio of retail properties.
The three new projects are substantially leased to national
retailers. The Ontario and Quebec projects are being developed with
joint venture partners. "We are pleased to be able to continue to
grow our portfolio by developing high quality projects that are
leased to Canada's best retailers. These projects confirm our
ability to source new projects across a wide geography. Upon
completion, these properties will further diversify our asset base
and allow us to continue to grow our cash flow and deliver a
reliable dividend to our shareholders." said Plazacorp President
and CEO Michael Zakuta. Plazacorp Retail Properties Ltd. is an
owner of shopping malls and strip plazas throughout Atlantic
Canada, Quebec and Ontario. Plazacorp now owns interests in 106
properties comprising over 4.7 million square feet of retail real
estate. Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. %SEDAR: 00012014E on Plazacorp, visit our
website at www.plaza.ca or contact: Michael Zakuta, President and
CEO, 514-457-0997 x228; Kim Sharpe, Director of Business
Development, 506-451-1826
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