Chicopee Park Plaza
River Road East, Kitchener
 
The Challenge 
Sherwa Investments Inc., which had recently acquired the Chicopee Park Plaza, required a leasing program to fill numerous vacancies and replace tenants that were unable to pay market rents in this struggling neighbourhood shopping center.  The 70,000 SF development had suffered chronic vacancies since losing it’s grocery store anchor, yet it had excellent parking and good access to Highway #401. 
 
The End Result 
CBRE executed a leasing program that repositioned this struggling neighbourhood shopping centre in a destination retail and office complex. Chicopee Park Plaza offered the new office and destination retail tenants excellent parking and close proximity to the 401. This helped meet a need in the Kitchener market for suburban office space near the 401. CB Richard Ellis transacted approximately 30,000 SF occupied by new tenants and existing tenants.  The goals of providing diversity of tenant type, size and lease terms were all successfully met.  Chicopee Park Plaza has remained fully leased for over 3 years.