Global Retail City Profiles Canada


Toronto


Toronto, a true global city, has one of the more diverse populations in the world, evidenced by its rich culture with a strong theatre scene, museums and galleries, movie and television productions, and the presence of Canada’s major media outlet headquarters. Toronto’s international buzz has allowed the city to witness significant investment in recent years, especially in areas outside city limits. The recent demise of Sears Canada has left vacancies across Toronto but have also created new leasing and redevelopment opportunities. Within the city, large efforts have been focused on revitalizing Toronto’s waterfront, specifically the Sidewalk Toronto project which will blend urban planning and technological innovation to address issues like energy use, housing, and transportation just southeast of Downtown Toronto.


Prime urban retail Bloor Street, also known as Mink Mile, is Toronto’s prime shopping destination, providing excellent brand exposure within the nation’s most expensive corridor. Many retailers along the corridor opt for a two-store strategy which keeps both a brand presence on Bloor while also capturing the dollars of mall shoppers. The affluent neighborhood of Yorkville provides Bloor Street with regular patrons but the demographics of shoppers are changing. Entertainment and advertising agencies are choosing to locate within the corridor, bringing with them a younger working population. New office and multifamily construction also promises young workers and residents.


Shopping centers Shopping centres in the Greater Toronto Area have seen tremendous activity and growth in the past three years, particularly in centers located outside city limits. Yorkdale, Square One, and CF Sherway Gardens have undergone extensive renovations and expansions to make room for new market entrants including Nordstrom, which entered the country in 2014, and Saks Fifth Avenue. Yorkdale, Canada’s premier regional shopping centre, invested over CA$220 million to add 145,000 square feet of retail and 40 new stores. Located in the heart of downtown Toronto, CF Eaton Centre, recently introduced Pusateri’s, a 25,000 square foot fine food retailer, located in the lower level of Saks Fifth Avenue, which opened its doors in 2016. Looking ahead Toronto is expected to remain the economic growth leader in Canada.


Shopping center Square One


Yorkdale


CF Toronto Eaton Centre Scarborough Town Centre Vaughan Mills


CF Sherway Gardens CF Fairview Mall Mapleview Centre


Source: JLL 2018


1977 1973 2004 1971 1968 1990


Opening year 1973


Size (sqft) 2,200,000


1964 1,600,000 1,572,000 1,300,000 1,270,000 1,268,000 857,000 636,000


Location


Mississauga North York Downtown


Scarborough Vaughan Etobicoke Toronto


Burlington


Population 6.5m


Prime rent (sqft per year)


US $300 Prime rental information for Bloor Street


Key indicators Population (‘000s No.)


GDP per capita (US$, real, PPP) GDP Forecast 2018-2022 (% pa)


Retail Sales Forecast 2018-2022 (% pa) Global CBRA rank (out of 140 cities)


Rental growth outlook


6,449


$45,576 2.0 1.9


37th


Source: JLL, Oxford Economics (May 2018) Global CBRA Rank = Global Cross Border Retailer Attractiveness Rank


Key retail entrants Uniqlo


Saks Fifth Avenue


Samsung Keep Cool


Key tenants


Apple, Simons, Holt Renfrew, Hudson’s Bay, Walmart Tesla, Holt Renfrew, Nordstrom, Restoration Hardware Apple, Saks, Nordstrom, H&M, Uniqlo Walmart, Hudson’s Bay, Cineplex, Zara


lululemon, Calvin Klein, Legoland, hr2, Nike Factory Store Apple, Saks, Nordstrom, Zara, Sportinglife, Hudson’s Bay Zara, Hudson’s Bay, Eddie Bauer, lululemon Apple, Zara, H&M, Hudson’s Bay, Kiehl’s, Aritzia


Copyright (c) JLL IP, INC 2018


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