Target landlord seeks control of leases

TORONTO — The owner of 11 malls is looking to wrest its Target stores from the failed big box’s insolvency proceedings, the Halifax Chronicle-Herald reports. Toronto’s Ivanhoe Cambridge Inc. told an Ontario Superior Court hearing that it would pay a premium if it meant excluding the properties from the receivership process. The landlord is teaming up with Oxford Properties Group to make its pitch to the court, in hopes of putting the lots back to business use again. The companies remained quiet about potential tenants, but Don Shiner of Mount Saint Vincent University’s business department said one Halifax location “would appear to make for an ideal location for one of the Ikea express outlets we’ve been hearing about.” Ikea has not elaborated on plans to roll out some 10 Canadian delivery depots.