A Montreal-based real estate investment and development firm has purchased the Village Shopping Centre in St. John’s.

The company has been purchasing shopping centres across Canada over the last few years, and is already working on leasing out empty space in the 427,500 square foot building.

The Village, located at Topsail Road and Columbus Drive had lost a growing number of retail tenants in recent years.

Leyad says its portfolio includes residential, commercial and industrial properties “strategically managed to maximize value and deliver…returns.”

The company says it takes pride in identifying opportunities where others see challenges.