Polo Park owner Cadillac Fairview agrees to buy huge Winnipeg Target

WINNIPEG – Cadillac Fairview, the owner of Polo Park mall, plans to buy the Target building and land adjacent to the St. James mall.

Target’s largest store in Winnipeg, which was custom designed and built for the U.S. retailer, opened in October. Target filed for bankruptcy protection just three months later and store closed in April.

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Developer Shindico was surprised by Target’s pullout and said it would be difficult to find a suitable buyer for the building.

READ MORE: No tenant yet for Target’s massive Polo Park site

Cadillac Fairview confirmed Wednesday morning that it has reached an agreement to buy the property. The purchase is subject to court approval under Canada’s bankruptcy laws.

READ MORE: Target departure will leave major holes in Manitoba retail spaces