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: