Crossroads Centre Sold

Photo by Avery Moore, BlackburnNews.com

A London retail centre is changing hands, with a plan to upgrade its facade.

The Crossroads Centre on the southwest corner of Wellington Rd. and Exeter Rd. has officially been bought by a real estate investment trust called Partners REIT.

The centre, which houses Home Run Sports, Living Lighting and OK Tire locations, is only 73% occupied.

The sale was made as a package with two other similar retail properties, one in Hamilton and the other in Kemptville. The entire purchase cost the real estate trust over $83-million.

A news release on the purchase lists the construction of some additional buildings and new facades for the existing retail spaces.

The Crossroads Centre was built in 1990 and offers 160,000 sq ft of retail space.