“Despite economic headwinds, retailer failures, digital disruption and the purchasing habits of a new generation, Canada’s evolving retail property sector and its top malls are doing just fine,” said research chief Bill Argeropoulos.
He noted that retail property transactions were down 31 per cent in 2015, with properties totalling $4.5 billion.
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Commercial real estate firm Avison Young has released figures showing the most profitable shopping malls in Canada. Toronto’s Yorkdale is top of the list, generating $1,610 in sales per square foot in 2015. Vancouver’s CF Pacific Centre was next with $1,599 per sq. ft. followed by the city’s Oakridge Centre at $1,537.