Who We Are

While our name has changed in the 50+ years we've been operating, our commitment to our clients, our investors, and our team has never wavered. Here's a look at how Crombie came to be.
Image
1964

Atlantic Shopping Centres Limited

Atlantic Shopping Centres Limited

Atlantic Shopping Centres Limited is incorporated on February 4, 1964, and is established as a subsidiary of Sobeys Stores Limited to acquire, develop, and manage shopping centres in which Sobeys would be a major tenant.

1976

Avalon Mall Expansion

Avalon Mall Expansion

The first project following Empire’s acquisition is a major expansion of Avalon Mall in Newfoundland

Acquired by Empire Company Limited

Acquired by Empire Company Limited

As a result of a corporate reorganization in 1976, Empire Company Limited acquires 96.3% of the voting shares of Atlantic Shopping Centres Limited. Our portfolio includes five shopping centres, two office buildings, and a 50% interest in a shopping centre in Halifax.

1978

Newfoundland Expansion of New Malls

Newfoundland Expansion of New Malls

Interests in Newfoundland begin to expand with plans to construct new malls in Clarenville, Mount Pearl, and Corner Brook. Additionally, holdings in Nova Scotia and New Brunswick also increase with acquisitions in Halifax in 1978, Windsor in 1979, and substantial expansions and renovations to Highfield Square, Aberdeen Mall, Downsview Mall, and Sydney Shopping Centre.

1985

Growth during the Recession

Despite high interest rates and the economic pressures of the recession, Atlantic Shopping Centres Limited begins a period of accelerated growth during the 1980s. In addition to a renovation at West End Mall, 11 shopping centres are added to our portfolio.

1994

Purchase of Halifax Developments Limited

Purchase of Halifax Developments Limited

Atlantic Shopping Centres Limited purchases Halifax Developments Limited and a 50% interest in Bridgewater Mall and East Side Plaza.

2006

Name change to Crombie REIT

Name change to Crombie REIT

Atlantic Shopping Centres Limited changes it names to Crombie REIT and completes its initial public offering. Forty-four commercial properties totaling approximately 7,161,000 sqft are acquired from affiliates of Empire Company Limited.

2008

Purchase of 61 Properties

In April 2008, Crombie REIT buys 61 properties for $428.5 million from affiliates of Empire Co.

2010

Growing 58% in gross leasable area

In just under four years since its IPO, Crombie grows by 58% in gross leasable area to solidify its position as a mid-market capitalized REIT.

2012

$394 million of acquisitions

Crombie completes $394 million of acquisitions and ends the year with 170 properties worth more than $2.4 billion.

2013

Acquisition of 70 Safeway Properties

Acquisition of 70 Safeway Properties

The landmark $991.3 million acquisition of 70 Safeway-anchored properties in Western Canada signals a turning point in Crombie’s evolution into a truly national REIT.

2014

Acquire $154 million in retail properties

Acquire $154 million in retail properties

Crombie continues to regionally diversify its holdings as it acquires $154 million in retail properties, mainly grocery and drug store anchored plazas and freestanding stores.

2015

Top Employer Awards

Top Employer Awards

Crombie earns both Atlantic Canada’s and Nova Scotia’s Top Employer awards for the first time. Crombie’s CIBC Building wins TOBY Award for Office Building from BOMA Canada.

2016

$574 million in acquisitions

$574 million of acquisitions makes Crombie more urban-focused and geographically diversified than ever before. A number of environmental sustainability projects begun in 2008 were completed, bringing the total KwH/annum saved to nearly 17 million kWh.

2017

$4.8 billion property portfolio

$4.8 billion property portfolio

Our $4.8 billion property portfolio consists of 287 commercial assets from coast to coast and a growing development pipeline in Canada’s fastest growing metropolitan areas.

Build your Career with Crombie

We're not your typical REIT, and have career opportunities as diverse as our portfolio.
Learn More