Canadian Tire is turning four Bed Bath & Beyond stores in Alberta into something new

May 3 2023, 3:46 pm

The Canadian Tire Corporation (CTC) is bringing more Mark’s stores to Alberta, nabbing four real estate leases that were formerly held by Bed Bath & Beyond.

The CTC bought a total of 10 real estate leases across Canada for a final purchase price of $1.6 million.

The four leases in Alberta the CTC got a hold of for Mark’s relocations are in Grande Prairie, Medicine Hat, Red Deer, and Strathcona County.

Other lease acquisitions occurred in Langley, BC, and Oakville, Ontario.

“Mark’s is continuing to build on its incredible momentum in the Canadian market by strategically relocating six retail spaces to more convenient and larger sites,” said PJ Czank, president of Mark’s, in a news release.

“These relocated stores will feature more products and deeper assortments of our best brands to meet the needs of our customers in Alberta, British Columbia, and Ontario.”

In addition to the Mark’s relocations, the agreement will allow the CTC to implement plans for four new Pro Hockey Life (PHL) stores in Ontario. The 10 leases combined represent more than 242,000 square feet of retail space.

Bed Bath & Beyond announced it was going under back in February, closing 54 stores across the country.

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Laine MitchellLaine Mitchell

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