Gentra makes plans for two Eaton's outlets

Article Abstract:

Real estate developer Gentra Inc of Toronto, Ontario, will spend C$10 million to C$15 million to convert the Eaton's store in its Sheridan Mall in Mississauga into office space. The company has also bought back the building and the land occupied by Eaton's at Bramalea City Centre in Brampton, Ontario. Eaton's has been rumored to be a takeover subject because of its financial troubles. Gentra reported a profit of C$96 million, or 39 cents a share, and an operating cash flow of C$106 million in 1998, from C$81 million and $88 million in 1997.

Capital expenditures, Shopping Center Developers

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Gentra eyes two Eaton's stores for re-leasing

Article Abstract:

Real estate firm Gentra Inc is planning to refurbish the facilities being rented by Eaton's in its Londonderry Mall in Edmonton. The renovation will enable Gentra to add three or four additional retailers in the space currently being rented by Eaton and will double Gentra's rental income. Gentra is being $500,000 per year on Eaton's 92,000 sq ft Londonderry store, or about $5.40 per sq ft. The Londonderry store is one of Eaton's less profitable outlets.

Canada, Strategy & planning, Subdividers & Developers

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