Markham-based company buys Station Mall in the Sault
The Station Mall in Sault Ste. Marie has been sold to SM International Holdings, a company with headquarters in Markham. (Supplied)
The Station Mall in Sault Ste. Marie has been sold to SM International Holdings, a company with a headquarters in Markham.
The mall's previous owners, Algoma Central Corporation, announced the sale in a news release Tuesday. The deal closed June 30.
"Station Mall, a 555,000-square-foot enclosed shopping centre located steps away from the St. Marys River, was the last of the company’s real estate holdings in Sault Ste. Marie," Algoma Central said in the release.
"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, Ont., 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."
Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes/St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers.
A message from CTV News to SM Holdings seeking details on the sale has not yet been returned.
For more information about Algoma, visit the company's website.
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