The owner of the Penticton Power Centre has announced that a Loblaws store will be moving into the site where Zellers currently is located.
Al Mawani, president and chief executive officer of Calloway Real Estate Investment Trust, said they entered into agreement in late September with Loblaws to convert the Penticton Zellers into a full-line Real Canadian Superstore.
“We are pleased to expand our relationship with Loblaws in Penticton, demonstrating the strength of the location,” said Mawani.
The public relations department for Loblaws also confirmed the announcement.
“We can confirm that a Real Canadian Superstore location will open in Penticton when the Zellers lease is over. This is expected to happen in 2013,” said Craig Ware, corporate affairs director, Loblaws Companies Limited.
Loblaws also owns the Real Canadian Wholesale Club located on Main Street and Carmi Avenue and said that store will remain open.
The Penticton Power Centre owner said Loblaws is expected to close the Zellers location down for months to complete renovations as part of their taking over.
“Loblaws in Penticton will spend significant money to renovate the store,” said Mawani, in an email to the Penticton Western News.
Target Corp. announced on Sept. 23 it selected Penticton Zellers in the final round of leases they would be taking on in Canada. Spokesperson for Target Corp, Sarah Van Nevel, clarified the information on the press release stating they only announced they would be taking the lease, not that it would become a Target store.
“We had announced another group of sites and some of those would likely become Target stores but others will be sold to other retailers. Beyond that I can’t confirm any other specifics,” said Van Nevel.