The Model City Mall in Kapuskasing has been sold. The deal went through last week as the Winchester Real Estate Investment Trust made the purchase. The company is no stranger to Northern Ontario as they have malls in Kirkland Lake, Espanola, Thunder Bay and now Kapuskasing.
Vice President of Commercial Properties James Gray says they plan on making some changes by early next year. Gray says they plan on moving most of the businesses up to the front of the mall and demolishing the back to save on costs.
Gray says they considered buying the mall several years ago, but within the last three months were able to negotiate a deal.
Gray says they usually buy properties that need some fixing up and try to fill the space. They plan on offering a better shopping experience with a wider variety of stores.
