BUSINESS

Canada's Most Profitable Shopping Malls, According To Avison Young

03/30/2016 01:38 EDT | Updated 03/31/2017 05:12 EDT

TORONTO — Commercial real estate firm Avison Young says Toronto's Yorkdale Shopping Centre was the country's most profitable retail mall last year.

In a new report, Avison Young says Yorkdale mall generated $1,610 in sales per square foot in 2015.

That bumped Vancouver's CF Pacific Centre, which topped the list the previous year, into second place in 2015. CF Pacific Centre generated $1,599 in sales per square foot last year.

Bill Argeropoulos, principal and practice leader of Canadian research at Avison Young, says more than $4.5 billion worth of retail properties changed hands last year. That was down 31 per cent from the previous year.

"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," Argeropoulos said in a statement.

Here are the 10 malls that generated the highest sales per square foot in 2015:

Yorkdale Shopping Centre in Toronto: $1,610

yorkdale mall shooting

Canadian Press photo


CF Pacific Centre in Vancouver: $1,599

pacific centre mall

Wikimedia Commons photo


Oakridge Centre in Vancouver: $1,537

oakridge centre mall

Flickr


CF Toronto Eaton Centre in Toronto: $1,509

eaton centre toronto crowds

Getty Images


Southgate Centre in Edmonton: $1,215

southgate edmonton

SouthgateCentre.com


CF Chinook Centre in Calgary: $1,119

chinook centre calgary

CFShops.com


Royal Bank Plaza in Toronto: $1,096

royal bank plaza toronto

Canadian Press photo


CF Rideau Centre in Ottawa: $1,018

rideau centre ottawa

Caribb via Flickr


Metropolis at Metrotown in Burnaby, B.C.: $1,008

metropolis metrotown burnaby

MetropolisAtMetrotown.com

Square One in Mississauga: $994

square one mississauga

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