Nordstrom: Square One Shopping Centre

Square One Shopping Centre: Sears, operator of a national chain of department stores, says it will receive $191 million cash for vacating its locations at Yorkdale Shopping Centre in Toronto and Square One Shopping Centre in Mississauga, Ont. by next March, according to CTV. Analysts at RBC Dominion Securities and RBC Capital Markets said they think Nordstrom -- a Seattle-based U.S. chain -- will get the Yorkdale location while Montreal-based Holt Renfrew will lease the Square One space and TORONTO -- Sears Canada Inc. TSX:SCC will be vacating at least two major Toronto-area stores and possibly a third in return for cash payments from its landlords, who will be able to offer the prime space to tenants such as Nordstrom and Holt Renfrew. It could also receive up to an additional $54 million if the landlords exercise an option to have Sears withdraw from its location at Scarborough Town Centre within five years. That would include $1 million that Sears gets for the option. (www.immigrantscanada.com). As reported in the news.