Press Release

Avalon Mall announces new retailers and store expansions as part of $112 million redevelopment

Company Release - 2/25/2020 2:35 PM ET

NEW GLASGOW, NS, Feb. 25, 2020 /CNW/ - Crombie Real Estate Investment Trust ("Crombie") (TSX: CRR.UN) is pleased to announce that a number of exciting international and national brands will open at Avalon Mall in 2020, and several existing retailers will expand their mall presence.

SportChek, Tommy Hilfiger, Skechers, Bikini Village, and Michael Hill will open at Avalon Mall this year occupying approximately 40,600 square feet. Bath & Body Works, EB Games, and Bentley will relocate from their current locations, all in expanded footprints, and Tip Top opened their doors in a new expanded location in early February 2020. The Brick will open their first store in Newfoundland and Labrador with a new 46,000 square foot pad site. The expansion area of Avalon Mall is now approximately 90% leased, with more retailers to be announced in the coming months. Total Avalon Mall GLA is approximately 593,000 square feet.

In 2019 Crombie announced that H&M, Old Navy, Gap, and Banana Republic would occupy approximately 53,000 square feet in the newly constructed and renovated areas of the mall. Securing strong global brands such as these complements the existing mix of stores, entertainment and services at Avalon Mall, with product lines that appeal to a wide range of demographics and customer needs. These announcements accompanied the opening of Winners and HomeSense (50,400 square feet) in their expanded location in August 2019 and the opening of The Rec Room by Cineplex (30,600 square feet) earlier in 2019.

"We are very pleased with the retailers that have joined us and with our existing retailers committed to expanding their presence at Avalon Mall as part of redeveloping this flagship property," says Don Clow, President and CEO of Crombie REIT. "They enhance the experience of our shoppers and visitors, and are an integral part of what makes us the premier shopping and entertainment destination in the province."

Crombie began this $112 million multi-phase redevelopment in 2017 to enhance Avalon Mall's position as the dominant shopping and entertainment centre in Newfoundland and Labrador. In addition to adding world-class retailers, interior common areas were transformed with contemporary porcelain tile and acoustic ceiling tiles, and updated LED lighting fixtures added. The food court has been expanded with modern finishes, additional seating and furniture, and sorting stations that allow the mall to divert organic waste to an on-site composter. A four-level, 875 space parking structure opened in 2018, and the project included a redesign and realignment of vehicular access to Kenmount Road.

About Avalon Mall
Avalon Mall is the premiere regional shopping centre in St. John's and Newfoundland and Labrador. It is the largest enclosed shopping mall in the province and will boast approximately 593,000 square feet of GLA upon project completion. Avalon Mall is owned and managed by Crombie REIT. For more information on the redevelopment project, visit www.avalonmallredevelopment.com.

About Crombie REIT
Crombie Real Estate Investment Trust ("Crombie") is an unincorporated, open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. Crombie is one of the country's leading national retail property landlords with a strategy to own, operate and develop a portfolio of high quality grocery- and drugstore-anchored shopping centres, freestanding stores, and mixed-use developments primarily in Canada's top urban and suburban markets. More information about Crombie can be found at www.crombie.ca.

SOURCE Crombie REIT

Media Contact: Elizabeth Engram, MPR, Manager, Marketing & Public Relations, 902-755-8100 ext. 3038, elizabeth.engram@crombie.ca