One of Canada’s largest dealer groups has expanded operations with the purchase of the 401 Dixie Auto Mall in Mississauga, Ontario.
The privately owned Dilawri Group of Companies said today it bought the mall from ING Real Estate for an “undisclosed sum,” adding it had plans for roughly $12 million in renovations.
“As long-standing tenants of 401 Dixie Auto Mall and with over 20 years of success in the retail automotive industry we immediately recognized our unique position to maximize the mall's potential for growth and seized the opportunity to purchase,'' Kap Dilawri, a spokesman for the family owned Dilawri Group, said in a news release reported by The Canadian Press.
The 12-hectare site to the west of Toronto includes 10 dealerships, including a number of stores already owned and operated by the Dilawri Group including Dixie Mitsubishi, Ontario Mazda and 401 Dixie Volkswagen.
First opened in 1988, the release said the 401 Dixie Auto Mall was originally designed to become Mississauga's ultimate destination for retail automobile shopping. Now, the Dilawri Group said, it would “fully realize the mall's initial vision with aggressive renovation and expansion plans.”
“In addition to our immediate plans to enhance the property with updated signage and new energy efficient lighting, we are in the midst of partnering with our tenants to revitalize the auto mall with a more contemporary look and feel to make it the premier choice of consumers in the market to purchase a vehicle.''
The renovation budget will carry an estimated cost of roughly $12 million.
The Dilawri Group of Companies includes 36 dealerships in British Columbia, Alberta, Saskatchewan and Ontario and employs more than 1,500 employees.
- With files from The Canadian Press