Yorkdale is Canada's most productive mall

Yorkdale Shopping Centre located in the Greater Toronto Area is Canada’s most productive mall, according to a new report from the Retail Council of Canada.

Based on sales per square foot, Yorkdale leads with sales of $1,650.85 per square foot for the 12-month period ending August 31, 2016. Vancouver’s Oakridge Shopping Centre was ranked number two on the list with sales of $1,537 per square foot, while the city’s CF Pacific Centre ranked number three with sales amounting $1,523.

In fact, 14 of Canada’s top 30 most productive Canadian malls are in the Greater Toronto Area, while six of them are in the Greater Vancouver Area. Meanwhile, the city of Montreal is currently seeing a resurgence in mall investments and competition is expected to increase. Overall sales per square foot in Canadian malls averaged $744, up from $733 in 2015 and $680 in 2014.

Still, based on pedestrian count Ontario’s CF Toronto Eaton Centre is considered Canada’s busiest mall with an annual pedestrian count of close to 49 million.

The report also compared Canadian malls with its American counterparts and found that Canada’s malls are, on average, more productive than those in the United States. Though a handful of U.S. malls racked up higher sales per square foot, Canada’s top malls are as busy as U.S malls. Overall sales per square foot in U.S. malls averaged $466 USD, compared to $474 USD reported in 2015 and 2014.

The report rationales that Canadian malls might overall outperform U.S. ones due to there being significantly less space per person in Canada compared to the U.S.

This study is the first of its kind in Canada to analyze Canada’s top malls based on productivity, size and pedestrian count. The specific mall date was collected directly from landlords, according to the report.

Yorkdale is Canada's most productive mall

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