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BRIEF-Crombie announces agreement with Sears Canada at Avalon mall

Published 2017-10-10, 11:11 a/m
© Reuters.  BRIEF-Crombie announces agreement with Sears Canada at Avalon mall
CRR_u
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Oct 10 (Reuters) - Crombie Real Estate Investment Trust CRR_u.TO :

* Crombie REIT announces agreement with Sears Canada Inc. at Avalon mall

* Says Crombie is currently in first year of redevelopment at Avalon mall & Phase I investment is estimated at $54.5 million

* Says for receiving $5 million lease surrender fee, Sears agreed to early termination of lease to vacate Avalon mall by Feb 28, 2018

* Says received court approval of a lease surrender agreement with Sears Canada Inc regarding store at Avalon mall

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