Montreal-based real estate investment and development firm Leyad has officially announced the acquisition of Intercity Shopping Centre, the dominant retail destination for Thunder Bay and all of North.
Montreal-based real estate investment and development firm Leyad has officially announced the acquisition of Intercity Shopping Centre, the dominant retail destination for Thunder Bay and all of Northwestern Ontario. The 456,430-square-foot property was purchased from the Healthcare of Ontario Pension Plan (HOOPP) for an undisclosed amount.
As part of the acquisition, Leyad will immediately move forward with completing a brand-new Sport Chek location at the property. Sport Chek is one of the top-performing Canadian Tire-owned retail brands in the country, and the flagship store is expected to significantly enhance the shopping centre’s retail offering.
Leyad is also actively finalizing agreements with several new national and international retailers to redevelop and backfill portions of the former Sears space, which has remained vacant since Sears Canada ceased operations in 2015. This marks a major step forward for the mall, which has seen steady interest from retailers looking to establish or expand their presence in Northwestern Ontario.
“Intercity Shopping Centre is the heart of retail in Thunder Bay and across Northwestern Ontario,” said Henry Zavriyev, President of Leyad. “This investment reflects our confidence in the strength of the market, the community, and the long-term future of the centre. We see tremendous opportunity to modernize the property, attract exciting new retailers, and create a best-in-class shopping experience for the region.”
Located at the intersection of Thunder Bay’s major commercial corridors, Intercity Shopping Centre draws shoppers from across Northwestern Ontario and remains one of the most important commercial assets in the region. The redevelopment plans are expected to bring substantial new investment into Thunder Bay, create jobs, and further reinforce the centre’s position as the leading retail destination in Northwestern Ontario.
“Intercity Shopping Centre is the heart of retail in Thunder Bay and across Northwestern Ontario. This investment reflects our confidence in the strength of the market.” — Henry Zavriyev, President of Leyad
Community members are encouraged to stay informed and share this information with friends and family. Following trusted local news sources helps ensure everyone stays up to date with events and announcements affecting Thunder Bay and Northwestern Ontario.
🔗 Read the original report from CNW Newswire
For more local news, weather, sports, events, and community updates across Thunder Bay and Northwestern Ontario, visit ThunderBay.Online — your trusted source for everything happening in the region.
📍 Source: CNW Newswire · By: Staff Report · 🗓️ June 3, 2026 · 🏠 ThunderBay.Online
