Menu Close

Community Shopping Centre Repositioning

Woodbridge Square


  • Value Creation
  • Retail
  • 112,462 SF


  • Joint Venture - Morguard
  • REIT and Private Client


  • Asset Management
  • Development
  • Leasing

Modernizing a rental commercial property co-owned by Morguard REIT has unlocked substantial value - including an increase in leasable space and dramatic savings in operating costs for this "boutique style" community shopping centre. Our expertise in both retailing and development gave a fresh look to this community shopping centre located north of Toronto.​

The Opportunity

Woodbridge Square, a 113,000-square-foot community shopping centre in Vaughan, ON, required a strategic repositioning to maintain market share and better compete against new retail development in the growing community north of Toronto. The 25-year-old centre was challenged with rising vacancy and decreasing cash flow.

The Value Proposition

The Trust created a fully managed plan that would realize value creation from redevelopment, remerchandising, and transitioning the property back to its original roots as a grocery-anchored community shopping centre. The plan identified three main initiatives to deliver the desired results:

    • renovate the facade to achieve a more contemporary look
    • secure a new grocery anchor tenant
    • lead a remerchandising strategy identifying a co-tenancy mix that would improve the property’s performance and draw new customers​​​​​

The Result

Achieved 100% occupancy, secured a long-term grocery anchor (Nations Fresh Food), and increased rental rates. Additionally, the property is positioned to unlock future value by leveraging entitlements for high density, mixed-use purposes in alignment with the new City of Vaughan Official Master Plan.

Increased property value by 30%, which allowed full project funding secured by a 10-year mortgage and long-term cash flow stability for unitholders and the co-owner.

Created a contemporary and well-trafficked, grocery-anchored community shopping centre that has successfully attracted new customers from its primary and secondary trade areas.​

Oops, an error : please select a service below to share to.
Help us prevent spam by entering the words below
Since your browser does not accept 3rd party cookies,
the system does not work as expected and captcha will be
requested every time.
Looks like your browser doesn't accept
third party cookies!
You need to enable this feature to use the
ShareThis widget.
Here is how you can do so!
Share again » « Back « Back Successfully Shared!
« Back ShareThis
Share this with your friends
Close Select your email service
Import contacts:
Google | Yahoo!
Last Used
      Morguard - Real Estate Ownership, Management and Investment

      Morguard is a fully integrated real estate company. We own, manage and invest in high-quality, well-located . . .



      What Worked:

      You successfully shared to


      What didn't work:

      Your message could not be shared to


      How to fix it:

      Log back in to complete your share:

      Your message was successfully shared to
      Your message could not be shared:   - Share again
      Your Facebook authorization has expired - log in.
      Log back in to complete your share:
      Pick one or more destinations:
      ... Cancel