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Canadian Tire Buys Former Target at Grant Park

May 6, 2015 10:17 AM | News

Canadian Tire

(Canadian Tire image via ValeStock / Shutterstock.com)

WINNIPEG — Canadian Tire has bought up the lease to the former Target store at Grant Park Shopping Centre.

The retailer said it has purchased 12 leases, formerly held by Target Canada, for $17.7 million.

“We’re always on the lookout for great opportunities. We’ve been tracking certain Target properties for some time and when the opportunity came up, we moved quickly and secured virtually all of them. We chose 12 properties that fit strategically and financially into our store network,” said Michael Medline, president and CEO of Canadian Tire Corporation.

The 12 new locations will add approximately 400,000 square feet of retail space to Canadian Tire retail’s store network.

It’s not clear when the new store will open or if it will replace an existing Winnipeg Canadian Tire.