For the second year in a row, Oakridge Centre and CF Pacific Centre are among the top 10 most profitable malls in the country, according to a study by the Retail Council of Canada.
The Vancouver malls were ranked second and third in Canada, respectively. The rankings are part of the Retail Council of Canada’s annual Canadian Shopping Centre Study, which analyzed 30 malls based on productivity, size and pedestrian counts in relation to regional demographics. The data was collected over a 12-month period ending June 30, 2017.
During that time, Oakridge — which is currently in planning stages for a massive redevelopment — generated $1,579 in sales per square foot, according to the study, while Pacific Centre achieved $1,531. The most profitable mall in the country was Toronto’s Yorkdale Shopping Centre, which sold $1,653 per square foot.
The study found that despite regional differences when it comes to productivity, Canada’s top malls continue to thrive.
Coming in at eighth place for profitability, Burnaby's Metropolis was the second busiest mall in the country last year, with more than 27 million visitors to the centre. (In 2016, more than 28 million people visited Metropolis, but it was only the third busiest mall in the country.)
Toronto’s CF Toronto Eaton Centre was the busiest mall in the country, with more than 50 million visitors during the 12-month period, according to the study.
Top B.C. malls:
- Oakridge Shopping Centre, ranked No. 2 ($1,531)
- CF Pacific Centre, ranked No. 3 ($1,528)
- Metropolis at Metrotown, ranked No. 8 ($1,031)
- Richmond Centre, ranked No. 12 ($937)
- Guildford Town Centre, ranked No. 18 ($875)
- Park Royal Shopping Centre, ranked No. 19 ($874)
- Coquitlam Centre, ranked No. 22 ($823)
—With files from Cayley Dobie
