CANADIAN SHOPPING CENTRE STUDY 2017

CANADIAN SHOPPING CENTRE STUDY 2017

CANADIAN SHOPPING CENTRE STUDY 2017

In partnership with Developed by 2017 CANADIAN SHOPPING CENTRE STUDY CANADIAN SHOPPING CENTRE STUDY Exclusive Research Report DECEMBER, 2017 RetailCouncil.org

CANADIAN SHOPPING CENTRE STUDY 2017

design with retail soul 1.844.843.5812 www.ghadesing.com info@ghadesign.com let’s talk retail design! Saks Food Hall by Pusateri’s CF Toronto Eaton Centre, ON CF Sherway Gardens Toronto, ON Jean-Paul Fortin Yorkville Village, ON A new signature look was created for Jean-Paul Fortin, the multi-brand footwear retailer, for their first location outside of Quebec at Yorkville Village in Toronto. Befitting of its location in an urban upscale shopping destination, the store evokes understated luxury.

The aesthetic objective was to create a space that would reflect the elevated appeal to both the Pusateri’s and Saks brands in a resolutely modern style that projects a contemporary lifestyle image. The food hall features 24,000 square feet of unique culinary stations, gourmet ingredients, artisanal products and prepared foods.

The expansion drove a complete renovation of the existing mall, the redesign of eight garden courts, new guest amenities and a relocation of the Food Court. The vision supports twostorey retail storefronts immersed in natural light. There is also significant exposure for new restaurants with patio spill-out and a new mall entrance facing a major highway.hway. · · programing & planning · concept & schematic design · design development · design technical drawings · construction coordination · brand graphics www.ghadesign.com II

CANADIAN SHOPPING CENTRE STUDY 2017

CANADIAN SHOPPING CENTRE STUDY TABLE OF CONTENTS 1.

Introduction ___ 1
2. Executive Summary ___ 3
3.

  • Top Malls in Canada By Sales Per Square Foot ___ 4
    4.
  • Top 10 Largest Malls in Canada by Square Footage ___ 8
    5.
  • Top 10 Busiest Malls in Canada By Annual Pedestrian Count ___ 9
    6. Canadian Regional Analysis ___ 10
    a. Vancouver/Lower Mainland, British Columbia ___ 12
    b. Calgary, Alberta ___ 18
    c. Edmonton, Alberta ___ 22
    d. Winnipeg, Manitoba ___ 26
    e. Greater Toronto Area, Ontario ___ 30
    f. Hamilton/St. Catharines/Niagara, Ontario ___ 38
    g. Ottawa/Capital Region ___ 40
    h.

    Montréal, Québec ___ 44
    i. Québec City, Québec ___ 48
    j. Maritime Provinces ___ 50
    7. Top Shopping Mall Trends ___ 54
    8. Conclusion ___ 62
    2017 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

  • CANADIAN SHOPPING CENTRE STUDY 2017

    As Retail Council of Canada’s Preferred Processing Provider for over 10 years, and a global financial innovator, Chase Paymentech provides payments solutions and expertise for in-store and e-commerce situations to help you grow no matter where your business is headed. We were ranked the #1 acquirer1 globally in 2016 and our clients know us as the company that helps them quickly and reliably accept payments in 130 currencies with world-class cybersecurity. Visit chasepaymentech.ca for more on how we can help.

    1 The Nilson Report, 2016. Chase, the Chase Octagon, and Paymentech are registered trademarks of JPMorgan Chase Bank, N.A.

    2017 JPMorgan Chase & Co. All rights reserved. RETAIL COUNCIL OF CANADA’S PREFERRED PROCESSING PROVIDER FOR OVER 10 YEARS Let our payments solutions take your business to the next level.

    CANADIAN SHOPPING CENTRE STUDY 2017

    1 Welcome to Retail Council of Canada’s second Canadian Shopping Centre Study. The study examines Canadian malls on ranking metrics including productivity, size and visitors. Canada’s top malls continue to thrive, with leading centres investing in their properties as well as courting the top domestic and international retailers. In an age where e-commerce is growing quickly, physical retail can only succeed when it is experiential, creative, and customercentric. Top malls are responding to this challenge with additional investments, services and amenities.

    While many top malls are performing much better than their U.S.

    counterparts, many landlords in this country will face the ongoing challenges of a sector in constant disruption and re-invention. A case in point is the announcement of Sears Canada’s departure from the retail space. This change in our landscape will in itself result in approximately 15 million square feet of vacated retail space nationally. To say that consumer shopping habits are redefining our bricks-and-mortar environment is an understatement. With a larger share of the customer’s wallet dedicated to online shopping, entertainment, food, travel and the likes, shopping malls will be constantly challenged to up their game to attract and retain customers – again and again.

    Who ever said retail was easy or boring! We hope you enjoy our Study and thank all those who participated. For more information on the Study and Retail Council of Canada, please visit our web site at www.retailcouncil.org Kind regards, Diane J. Brisebois President and CEO, Retail Council of Canada INTRODUCTION ABOUT THE STUDY AUTHOR Craig Patterson is a retail analyst and founder of the leading Canadian retail industry news publication, Retail Insider. He holds Bachelor of Commerce and Bachelor of Law degrees from the University of Alberta, and is also the head of research at the University of Alberta School of Retailing.

    He has been studying the retail industry for over 25 years and has a keen interest in shopping centre real estate. 1 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    CANADIAN SHOPPING CENTRE STUDY 2017

    It’s2018.Doyou knowwhyyou havecustomers? This is no longer a simple question. Why? Because ongoing shifts and trends in global markets, the rise of the millennials and the exponential proliferation of connected devices have all dramatically upended consumer behaviors – and the various approaches traditionally used to analyze them. This in turn has led to a perfect storm of disruption, especially for retail outlets and the shopping centres that house them – a storm that isn’t merely on the horizon, it’s here now.

    If the next two to three years are indeed more transformational than the previous 50, as many expect, how will you prepare? Start by reading Me, My Life, My Wallet, and don’t come in from the storm .

    Ride it. kpmg.ca © 2018 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 18743

    CANADIAN SHOPPING CENTRE STUDY 2017

    EXECUTIVE SUMMARY Retail Council of Canada’s second Canadian Shopping Centre Study analyses Canada’s top malls based primarily on productivity, size, and pedestrian counts. It then examines 10 Canadian regions based on demographics and provides information on top centres as well as highlights local facts about each region and its malls. The study also dives extensively into key trends seen among leading shopping centres in Canada, including an extensive list of best practices. Specific mall data was collected directly from landlords while reference data was collected from several sources as noted.

    Canadian mall productivity numbers were collected for the 12-month period ending June 30, 2017 KEY OBSERVATIONS Canada’s top malls continue to thrive. While there are regional differences in terms of overall productivity, Canada’s leading malls are healthy, and top centres continue to see investment and innovation.

    OTHER FINDINGS INCLUDED:
    • Shopping centres are enhancing their food & beverage options, by creating ‘food halls’ and adding full-sized restaurants.
    • Landlords are more and more focused on creating a shopping experience that is more convenient, enjoyable and entertaining.
    • Pop-up/curated retail is more popular than ever.
    • A range of brands and price points continue to open in malls, with top malls featuring a range from the affordable to the luxurious.
    • International brands continue to come into Canada, with top malls featuring a range of retailers and retailer types.
    • Some of the country’s top malls are looking to diversify their existing sites by adding housing and other amenities. Information in this study is collated from industry data and from noted participants. Retail Council of Canada, to the fullest extent permitted by law, makes no warranty (express, implied or otherwise), or assumes any legal liability or responsibility for the accuracy, completeness, reliability and usefulness of this information. Some opinions in this report are based on current market trends and may be subject to change.

    2 3 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    CANADIAN SHOPPING CENTRE STUDY 2017

    Rank Mall Name City Province Sales Per Sq Ft 1 Yorkdale Shopping Centre Toronto Ontario $1,653 2 Oakridge Shopping Centre Vancouver British Columbia $1,579 3 CF Pacific Centre Vancouver British Columbia $1,531 4 CF Toronto Eaton Centre Toronto Ontario $1,528 5 Southgate Centre Edmonton Alberta $1,147 6 CF Chinook Centre Calgary Alberta $1,075 7 Square One Shopping Centre Mississauga Ontario $1,064 8 Metropolis at Metrotown Burnaby British Columbia $1,031 9 CF Rideau Centre Ottawa Ontario $987 10 CF Sherway Gardens Toronto Ontario $979 11 CF Fairview Mall Toronto Ontario $956 12 CF Richmond Centre Richmond British Columbia $937 13 CF Masonville Place London Ontario $933 14 CF Polo Park Winnipeg Manitoba $921 15 Conestoga Centre Waterloo Ontario $919 16 Mapleview Shopping Centre Burlington Ontario $895 17 CF Market Mall Calgary Alberta $887 18 Guildford Town Centre Surrey British Columbia $875 19 Park Royal Shopping Centre West Vancouver British Columbia $874 20 Scarborough Town Centre Toronto Ontario $866 21 CF Carrefour Laval Laval Québec $848 22 Coquitlam Centre Coquitlam British Columbia $823 23 Halifax Shopping Centre Halifax Nova Scotia $821 24 Place Ste-Foy Québec City Québec $815 25 Bayview Village Toronto Ontario $813 26 CF Markville Richmond Hill Ontario $809 27 Vaughan Mills Vaughan Ontario $792 28 Upper Canada Mall Newmarket Ontario $779 29 CF Lime Ridge Hamilton Ontario $749 30 CF Fairview Pointe Claire Pointe-Claire Québec $748 (Source: Retail Council of Canada, Canadian Shopping Centre Study, 2017) 3 For the 12 months ending June 30, 2017 TOP MALLS IN CANADA BY SALES PER SQUARE FOOT 4 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017.

    All rights reserved.

    CANADIAN SHOPPING CENTRE STUDY 2017

    5 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017 y. c a Make a personal memory out of your In-Mall Activation with the only experiential agency that has: A registered strategy formula for In-Mall Sampling. Experience in every business category. National multi-event tour success. Turnkey activation ability.

    CANADIAN SHOPPING CENTRE STUDY 2017
    • TOP MALLS IN CANADA BY SALES PER SQUARE FOOT 3. Note that the 2017 Canadian Shopping Centre Study is based on 12-month data collected as of June 2017 while the 2016 study reflected 12-month data as of August 2016. Additionally, the 2017 study focuses on centres with GLA exceeding 300,000 square feet in size.
    • RETAIL COUNCIL OF CANADA ANALYSIS
    • Canada’s top shopping centres continue to thrive. An impressive eight centres boast annual sales per square foot that exceed $1,000 with several others close behind.
    • For the second year in a row, Toronto’s Yorkdale Shopping Centre ranked as the country’s top mall in terms of annual sales per square foot.
    • Of the top 30 malls listed, 11 are in the Greater Toronto Area and 15 are in Ontario.
    • Seven of the top 30 malls are in the Greater Vancouver Area, making it the top region per capita for the most productive malls in the country.
    • Alberta’s top malls continue to thrive despite economic challenges, with Edmonton’s Southgate Centre and Calgary’s CF Chinook Centre ranking 5th and 6th, respectively.
    • While most of the country’s top malls are in major metropolitan centres, strong centres can also be found in the Ontario communities such as London, Waterloo, and Hamilton.
    • All top 30 shopping centres listed, except for Park Royal, Scarborough Town Centre and Bayview Village, include an Apple Store as a tenant. Yorkdale and Chinook Centre both house highly productive Tesla stores.
    • While most of the top malls feature a mix of retailers, a substantial number have a growing list of luxury retailers.
    • Three of the top 10 centres above noted are in downtown cores.

    6 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017. All rights reserved.

    • U.S. MALLS COMPARISON
    • Canadian malls have seen a positive trend in terms of overall annual sales per square foot for non-anchor tenants since 2014, while the United States has seen minor decreases year-over-year.
    • Canada saw a smaller increase year-over-year between 2016 and 2017, while the United States saw a minor decrease. The United States has many productive centres, though several declined to provide their performance results to Retail Council of Canada for this year’s study. Consensus is that the Bal Harbour Shops in Bal Harbour, Florida, is the top centre in the United States with sales per square foot exceeding US $3,000. The landlord would not confirm exact numbers for 2017.

    Sales productivity in Canadian Malls vs. U.S. Malls (Source: International Council of Shopping Centres, July 2017, not seasonally adjusted) 2014 2015 2016 2017 Canada ($C) $680 $743 $761 $766 United States ($US) $474 $474 $467 $466 Gross Domestic Product per capita (Source: International Monetary Fund 2016, $US) Canada $46,437 United States $57,436 Shopping Centre space per capita (GLA) (Source: International Council of Shopping Centres) United States 23.5 Canada 16.4  7 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    • Rank Mall Name City Province Size (square feet) 1 West Edmonton Mall Edmonton Alberta 3,200,000 2 CF Toronto Eaton Centre Toronto Ontario 2,098,754 3 Square One Shopping Centre Mississauga Ontario 1,904,595 4 Yorkdale Shopping Centre Toronto Ontario 1,841,961 5 Metropolis at Metrotown Burnaby British Columbia 1,795,326 6 Scarborough Town Centre Toronto Ontario 1,593,248 7 Park Royal Shopping Centre West Vancouver British Columbia 1,501,405 8 CF Carrefour Laval Laval Québec 1,403,947 9 Les Galeries de la Capitale Québec City Québec 1,348,381 10 Vaughan Mills Vaughan Ontario 1,270,163 (Source: Retail Council of Canada, Canadian Shopping Centre Study, 2017) RETAIL COUNCIL OF CANADA ANALYSIS
    • West Edmonton Mall remains the largest mall in Canada.
    • CF Toronto Eaton Centre is Canada’s largest downtown shopping centre, and is larger than most sprawling suburban centres.
    • Canada’s largest malls are spread out geographically, though they tend to be in larger metro regions.
    • West Edmonton Mall remains the biggest mall on the continent, though three American malls will eventually surpass Canada’s West Edmonton Mall in size. Landlord Triple Five (which also owns West Edmonton Mall) plans to expand Mall of America in Bloomington, MN, as well as open two larger centres (each with in excess of three million square feet of retail space) over the next several years, both named ‘American Dream’, one will be in New Jersey, the other west of Miami, Florida.
    • TOP 10 LARGEST MALLS IN CANADA BY SQUARE FOOTAGE 8 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017. All rights reserved.
    • Rank Mall Name City Province Annual Footfall 1 CF Toronto Eaton Centre Toronto Ontario 50,100,000 2 Metropolis at Metrotown Burnaby British Columbia 27,967,061 3 West Edmonton Mall Edmonton Alberta 27,000,000 4 Centre Eaton de Montréal Montréal Québec 24,100,000 5 Square One Shopping Centre Mississauga Ontario 23,000,000 6 Scarborough Town Centre Toronto Ontario 22,000,000 7 CF Pacific Centre Vancouver British Columbia 21,600,000 8 CF Rideau Centre Ottawa Ontario 21,400,000 9 Yorkdale Shopping Centre Toronto Ontario 18,000,000 10 The CORE Calgary Alberta 16,923,382 (Source: Retail Council of Canada Canadian Shopping Centre Study, 2017) Top two US Malls as a comparison Rank Property City Metro Region State Est. Number of Visitors Annually 1 Ala Moana Shopping Center Honolulu Honolulu Hawaii 42,000,000 2 Mall of America Bloomington Minneapolis Minnesota 40,000,000 (Source: Information supplied by property landlords) 5 TOP 10 BUSIEST MALLS IN CANADA BY ANNUAL PEDESTRIAN COUNT RETAIL COUNCIL OF CANADA ANALYSIS
    • CF Toronto Eaton Centre remains as North America’s busiest shopping centre, surpassing the top US centre by 8 million annual visitors.
    • Canada’s busiest malls tend to be in metro regions with a population surpassing 1-million people.

    Remarkably, four of Canada’s top 10 busiest malls are in urban cores (CF Toronto Eaton Centre, CF Pacific Centre, CF Rideau Centre, The CORE). In the United States, none of the country’s top 10 malls are downtown. This can be attributed to factors including stronger urban cores in Canada as well as a combination of history, culture, downtown population concentration and mix, investment priorities, and transit access when compared to most cities south of the border. 9 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    • CANADIAN REGIONAL ANALYSIS Malls were selected primarily based on productivity, followed by size and foot traffic. Data for mall space per capita is from Ryerson University’s Centre for the Study of Commercial Activity (CSCA). Population, and population growth numbers are from Statistics Canada, 2016 estimates, and average household incomes are via Environics Analytics. *
    • The study includes a region for the Maritime Provinces (New Brunswick/Nova Scotia) to provide balance, recognizing that the population threshold of 750,000 residents could not be met in some areas. 6 The following pages feature regional demographic data and top shopping centres for census metropolitan regions (CMA) in excess of 750,000. 6a. VANCOUVER/LOWER MAINLAND 6b. CALGARY, ALBERTA 6c. EDMONTON, ALBERTA 6d. WINNIPEG, MANITOBA 6e. GREATER TORONTO AREA, ONTARIO 6f. HAMILTON/ST. CATHARINES/NIAGARA, ONTARIO 6g. OTTAWA/CAPITAL REGION 6h. MONTRÉAL, QUEBÉC 6i. QUÉBEC CITY, QUÉBEC 6j. MARITIME PROVINCES* 10 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017. All rights reserved.

    11 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    • Tsawwassen Mills, South Delta VANCOUVER/LOWER MAINLAND, BRITISH COLUMBIA METROPOLITAN POPULATION: 2,548,700 (Stats Canada, 2016) POPULATION GROWTH BETWEEN 2015 & 2016: 1.7% AVERAGE HOUSEHOLD INCOME:* $102,242 SHOPPING MALL RETAIL SPACE PER CAPITA** 15.79 square feet TOTAL SALES PRODUCTIVITY FOR NON-ANCHOR MALL TENANTS, 12 MONTHS ENDING July 2017 (ICSC): $1,051 RETAIL COUNCIL OF CANADA ANALYSIS
    • For the second year in a row, the Vancouver/Lower Mainland region has the highest average total sales productivity for malls in Canada ($1,051) according to the International Council of Shopping Centres, and less shopping centre space per capita than most Canadian regions, according to CSCA Shopping Centre Database, Ryerson University. 6a.

    Data Source for Household Income: Environics Analytics **Data Source for Retail Space per Capita: 2017 CSCA Shopping Centre Database, Ryerson University, https://csca.ryerson.ca/ 12 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017. All rights reserved.

    • The region has the highest average total sales productivity for malls in Canada
    • The region has 7 of Canada’s top 30 malls in terms of sales productivity, also making it a top market for shopping centres in Canada in terms of per capita productivity. Simply put, Vancouver punches above its weight.
    • However, the BC Lower Mainland saw a slight reduction in its total annual sales per square foot productivity for its malls between 2016 and 2017. In 2017, the region’s average was $1,051 – compared to $1,053 in 2016 and $1,011 in 2015 (ICSC).

    13 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    VANCOUVER/LOWER MAINLAND, BRITISH COLUMBIA – CANADIAN REGIONAL ANALYSIS 6a. CF Pacific Centre, Vancouver (Downtown) Mall Manager: Cadillac Fairview Sales Productivity: $1,531 Size (Gross Leasable Area): 674,679 sq ft Annual Pedestrian Count: 22,000,000 Expansion/Renovation Plans? Yes – Howe Street/W. Georgia corner expansion, 3 levels Parking Spaces: 1,558 Highway/Transit Access? Transit (SkyTrain) Anchors over 50,000 sq ft: Hudson’s Bay Nordstrom Holt Renfrew 637,000 sq ft 230,000 sq ft 187,694 sq ft Oakridge Centre, Vancouver Mall Manager: QuadReal Sales Productivity: $1,579 Size (Gross Leasable Area): 573,742 sq ft Annual Pedestrian Count: Unavailable Expansion/Renovation Plans? Yes (substantial multi-year overhaul planned Parking Spaces: 3,032 Highway/Transit Access? Transit (SkyTrain), major roadway Anchors over 50,000 sq ft: Hudson’s Bay Safeway 182,485 sq ft 50,099 sq ft TOP REGIONAL MALLS CF Pacific Centre, Vancouver 14 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017.

    All rights reserved.

    Park Royal Shopping Centre, West Vancouver Mall Manager: Larco Investments Ltd. Sales Productivity: $874 Size (Gross Leasable Area): 1,501,405 sq ft Annual Pedestrian Count: Not disclosed Expansion/Renovation Plans? Yes Parking Spaces: 5,715 Highway/Transit Access? Transit (SkyTrain), major roadway Anchors over 50,000 sq ft: Hudson’s Bay La Maison Simons Home Depot The Brick Sport Chek 165,000 sq ft 100,000 sq ft 72,000 sq ft 48,000 sq ft 51,000 sq ft Metropolis at Metrotown, Burnaby Mall Manager: Ivanhoé Cambridge Sales Productivity: $1,031 Size (Gross Leasable Area): 1,795,326 sq ft Annual Pedestrian Count: 28,000,000 Expansion/Renovation Plans? Yes – redevelopment (including former Target and Sears spaces) Parking Spaces: 8,334 Highway/Transit Access? Transit (SkyTrain), major roadway Anchors over 50,000 sq ft: Sears (Closing) Hudson’s Bay Real Canadian Superstore Winners SilverCity Cinemas T&T Supermarket Sport Chek 217,283 sq ft 132,465 sq ft 128,617 sq ft 64,916 sq ft 59,651 sq ft 59,651 sq ft 48,423 sq ft Guildford Town Centre, Surrey Mall Manager: Ivanhoé Cambridge Sales Productivity: $875 Size (Gross Leasable Area): 1,073,727 sq ft Annual Pedestrian Count: 15,000,000 Expansion/Renovation Plans? No Parking Spaces: 4,370 sq ft Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Hudson’s Bay Walmart Sears (Closing) Empire Theatres 174,540 sq ft 149,000 sq ft 141,345 sq ft 75,426 sq ft Coquitlam Centre, Coquitlam Mall Manager: Morguard Sales Productivity: $823 Size (Gross Leasable Area): 916,482 sq ft Annual Pedestrian Count: 12,001,340 Expansion/Renovation Plans? No Parking Spaces: 4,500 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Sears (Closing) Hudson’s Bay 151,455 sq ft 120,527 sq ft 15 © Retail Council of Canada 2017.

    All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    VANCOUVER/LOWER MAINLAND, BRITISH COLUMBIA – CANADIAN REGIONAL ANALYSIS 6a. Willowbrook Shopping Centre, Langley Mall Manager: Bentall Kennedy Sales Productivity: $660 Size (Gross Leasable Area): 646,520 sq ft Annual Pedestrian Count: 6,200,000 Expansion/Renovation Plans? N/A Parking Spaces: 3,188 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Hudson’s Bay Sears (Closing) 131,439 sq ft 113,146 sq ft Tsawwassen Mills, South Delta Mall Manager: Ivanhoé Cambridge Sales Productivity: (Centre open for less than 12 months) Size (Gross Leasable Area): 1,200,000 sq ft Annual Pedestrian Count: N/A Expansion/Renovation Plans? N/A Parking Spaces: 6,000 Highway/Transit Access? Major roadway, bus and ferry Anchors over 50,000 sq ft: Bass Pro Shops 145,000 sq ft Tsawwassen Mills, South Delta 16 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017.

    All rights reserved.

    17 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    • Chinook Centre, Calgary CALGARY, ALBERTA METROPOLITAN POPULATION: 1,469,300 (Stats Canada, 2016) POPULATION GROWTH BETWEEN 2015 & 2016: 1.9% AVERAGE HOUSEHOLD INCOME:* $137,761 SHOPPING MALL RETAIL SPACE PER CAPITA** 23.79 square feet TOTAL SALES PRODUCTIVITY FOR NON-ANCHOR MALL TENANTS, 12 MONTHS ENDING July 2017 (ICSC): $777 RETAIL COUNCIL OF CANADA ANALYSIS
    • Calgary has experienced a reduction in its total annual sales per square foot productivity for its malls between 2015 and 2017, according to the International Council of Shopping Centres. In 2017, Calgary’s average was $777 – compared to $788 in 2016 and $827 in 2015.
    • Lower oil prices have had a negative impact on the economy since 2014 but many are bullish about the city and the province’s future.
    • The city is growing rapidly despite its challenges.
    • Calgarians are among the top earners in the country, despite a local recession.

    6b. *Data Source for Household Income: Environics Analytics **Data Source for Retail Space per Capita: 2017 CSCA Shopping Centre Database, Ryerson University, https://csca.ryerson.ca/ 18 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017. All rights reserved.

    • Calgarians are among the top earners in the country.
    • Retailers and landlords continue to invest in Calgary’s malls. CF Market Mall recently re-tenanted its Target space, for example, and CF Chinook Centre will see Saks Fifth Avenue open a 115,000 square foot store in February of 2018. 19 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    CALGARY, ALBERTA – CANADIAN REGIONAL ANALYSIS 6b. CF Chinook Centre, Calgary Mall Manager: Cadillac Fairview Sales Productivity: $1,075 Size (Gross Leasable Area): 1,212,712 sq ft Annual Pedestrian Count: 14,000,000 Expansion/Renovation Plans? Yes - Saks Fifth Avenue (spring 2018) Parking Spaces: 5,500 Highway/Transit Access? Major roadway and transit Anchors over 50,000 sq ft: Hudson’s Bay 203,342 sq ft Nordstrom 140,000 sq ft *Spring 2018: Saks Fifth Avenue 115,000 sq ft Cineplex 90,000 sq ft CF Market Mall, Calgary Mall Manager: Cadillac Fairview Sales Productivity: $887 Size (Gross Leasable Area): 776,556 sq ft Annual Pedestrian Count: 9,000,000 Expansion/Renovation Plans? Yes - former Target space to see Sporting Life, Zara, HomeSense, Saks OFF 5TH Parking Spaces: 4,218 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Hudson’s Bay 200,000 sq ft TOP REGIONAL MALLS The CORE, Downtown Calgary 20 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017.

    All rights reserved.

    Southcentre Mall, Calgary Mall Manager: Oxford Properties Sales Productivity: $643 Size (Gross Leasable Area): 1,116,279 sq ft Annual Pedestrian Count: 6,700,000 Expansion/Renovation Plans? None reported Parking Spaces: 4,193 Highway/Transit Access? Transit Anchors over 50,000 sq ft: Sears (Closing) Hudson’s Bay Safeway Sporting Life 234,109 sq ft 164,514 sq ft 76,326 sq ft 46,000 sq ft The CORE (TD Square-Holt Renfrew), Downtown Calgary Mall Manager: Cushman & Wakefield Sales Productivity: $656 Size (Gross Leasable Area): 664,151 sq ft Annual Pedestrian Count: 17,000,000 Expansion/Renovation Plans? Yes - redevelopment Parking Spaces: 800 Highway/Transit Access? Transit Anchors over 50,000 sq ft: Holt Renfrew La Maison Simons 146,887 sq ft 92,000 sq ft CrossIron Mills, Balzac Mall Manager: Ivanhoé Cambridge Sales Productivity: $660 Size (Gross Leasable Area): 1,125,254 sq ft Annual Pedestrian Count: 9,000,000 Expansion/Renovation Plans? Yes - food court redevelopment Parking Spaces: 6,400 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Bass Pro Shops Toys R Us 148,911 sq ft 51,069 sq ft CF Chinook Centre, Calgary 21 © Retail Council of Canada 2017.

    All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    • RETAIL COUNCIL OF CANADA ANALYSIS
    • As with Calgary, Edmonton has seen a reduction in its total annual sales per square foot productivity for its malls between 2015 and 2017. In 2017, Edmonton’s average was $744 – compared to $765 in 2016 and $820 in 2015.
    • The city is growing rapidly despite its recent economic challenges.
    • Londonderry Shopping Centre in the city’s northeast completed an overhaul in August that included new interior and exterior, electric car charging stations, and a new anchor La Maison Simons department store.

    EDMONTON, ALBERTA METROPOLITAN POPULATION: 1,392,600 (Stats Canada, 2016) POPULATION GROWTH BETWEEN 2015 & 2016: 2.1% AVERAGE HOUSEHOLD INCOME:* $117,225 SHOPPING MALL RETAIL SPACE PER CAPITA** 26.66 square feet TOTAL SALES PRODUCTIVITY FOR NON-ANCHOR MALL TENANTS, 12 MONTHS ENDING July 2017 (ICSC): $744 6c.

    Data Source for Household Income: Environics Analytics **Data Source for Retail Space per Capita: 2017 CSCA Shopping Centre Database, Ryerson University, https://csca.ryerson.ca/ Kingsway Mall, Edmonton 22 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017. All rights reserved.

    • Edmonton is growing despite its recent economic challenges.
    • West Edmonton Mall is in a state of constant change – it recently added The Rec Room entertainment centre, and it is also in the process of re-tenanting its former Target space. 23 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    EDMONTON, ALBERTA – CANADIAN REGIONAL ANALYSIS 6c. Southgate Centre, Edmonton Mall Manager: Ivanhoé Cambridge Sales Productivity: $1,147 Size (Gross Leasable Area): 918,800 sq ft Annual Pedestrian Count: 9,000,000 Expansion/Renovation Plans? No Parking Spaces: 4,385 Highway/Transit Access? Major roadway and transit Anchors over 50,000 sq ft: Sears (Closing) Hudson’s Bay Safeway 263,019 sq ft 236,551 sq ft 52,571 sq ft West Edmonton Mall, Edmonton Mall Manager: Triple Five/West Edmonton Mall Property Inc.

    Sales Productivity: *$760 Size (Gross Leasable Area): 3,200,000 sq ft Annual Pedestrian Count: 27,000,000 Expansion/Renovation Plans? Yes Parking Spaces: 21,152 Highway/Transit Access? Major roadway and transit Anchors over 50,000 sq ft: Hudson’s Bay Sears (Closing) La Maison Simons Sport Chek/Atmosphere T&T 164,000 sq ft 149,000 sq ft 125,000 sq ft 80,800 sq ft 55,000 sq ft *West Edmonton Mall numbers reflect entire non-anchor mall CRU, with the mall’s central corridor seeing sales of $1,178 per square foot, according to landlord Triple Five.

    Kingsway Mall, Edmonton Mall Manager: Oxford Properties Sales Productivity: $689 Size (Gross Leasable Area): 842,408 sq ft Annual Pedestrian Count: 6,600,000 Expansion/Renovation Plans? Yes - former Target space Parking Spaces: 3,756 Highway/Transit Access? Major roadway and transit Anchors over 50,000 sq ft: Sears (Closing) Hudson’s Bay 241,872 sq ft 162,404 sq ft Edmonton City Centre, Edmonton (Downtown) Mall Manager: Oxford Properties Sales Productivity: $405 Size (Gross Leasable Area): 830,424 sq ft Annual Pedestrian Count: 9,200,000 Expansion/Renovation Plans? Yes - centre overhaul ongoing Parking Spaces: 2,184 Highway/Transit Access? Transit Anchors over 50,000 sq ft: Hudson’s Bay Empire Theatres 167,946 sq ft 73,702 sq ft TOP REGIONAL MALLS Southgate Centre, Edmonton 24 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017.

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    Londonderry Shopping Centre, Edmonton Mall Manager: Cushman & Wakefield Sales Productivity: (Declined: Centre recently overhauled) Size (Gross Leasable Area): 776,749 sq ft Annual Pedestrian Count: TBD (centre overhauled) Expansion/Renovation Plans? No Parking Spaces: 3,528 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Hudson’s Bay La Maison Simons 118,240 sq ft 100,800 sq ft Londonderry Shopping Centre, Edmonton 25 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    • RETAIL COUNCIL OF CANADA ANALYSIS
    • Winnipeg is one of Canada’s fastest growing cities with a population exceeding 750,000 people.
    • CF Polo Park is on a trend to surpass $1,000 per square foot in annual sales.
    • The city has considerably less retail space than Alberta’s largest cities, though it has more than the Greater Vancouver area. WINNIPEG, MANITOBA METROPOLITAN POPULATION: 811,900 (Stats Canada, 2016) POPULATION GROWTH BETWEEN 2015 & 2016: 2.3% AVERAGE HOUSEHOLD INCOME:* $94,884 SHOPPING MALL RETAIL SPACE PER CAPITA** 18.40 square feet 6d.

    Data Source for Household Income: Environics Analytics **Data Source for Retail Space per Capita: 2017 CSCA Shopping Centre Database, Ryerson University, https://csca.ryerson.ca/ CF Polo Park, Winnipeg 26 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017. All rights reserved.

    CF Polo Park, Winnipeg Mall Manager: Cadillac Fairview Sales Productivity: $921 Size (Gross Leasable Area): 1,171,893 sq ft Annual Pedestrian Count: 11,000,000 Expansion/Renovation Plans? Yes Parking Spaces: 5,813 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Sears (Closing) Hudson’s Bay 263,000 sq ft 212,000 sq ft Winnipeg is one of Canada’s fastest growing cities.

    TOP REGIONAL MALLS 27 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    WINNIPEG, MANITOBA – CANADIAN REGIONAL ANALYSIS 6d. St. Vital Centre Mall Manager: Cushman & Wakefield Sales Productivity: 615.14 Size (Gross Leasable Area): 931,831 sq ft Annual Pedestrian Count: 8,600,000 Expansion/Renovation Plans? N/A Parking Spaces: 4,661 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Walmart Sears (Closing) Hudson’s Bay SilverCity Cinemas Co-Op 159,285 sq ft 131,513 sq ft 122,000 sq ft 66,971 sq ft 55,000 sq ft Garden City Shopping Centre, Winnipeg Mall Manager: RioCan Sales Productivity: $652.94 Size (Gross Leasable Area): 380,558 sq ft Annual Pedestrian Count: 1,839,130 Expansion/Renovation Plans? Renovations will be complete in Winter 2017/2018 Parking Spaces: 1,974 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Canadian Tire Sears (Closing) 94,267 sq ft 92,604 sq ft 28 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017.

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    29 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    • RETAIL COUNCIL OF CANADA ANALYSIS
    • The Greater Toronto Area has consistently seen gains in its total annual sales per square foot productivity for its malls between 2015 and 2017. In 2017, the GTA’s average was $932 – compared to $926 in 2016 and $892 in 2015 (ICSC).
    • The Greater Toronto Area is home to far more major shopping centres than any region in the country.
    • Many leading malls have seen substantial investments over the past five years, including renovations, expansions and new retailers. GREATER TORONTO AREA, ONTARIO METROPOLITAN POPULATION: 6,242,300 (Stats Canada, 2016) POPULATION GROWTH BETWEEN 2015 & 2016: 1.8% AVERAGE HOUSEHOLD INCOME:* $113,477 SHOPPING MALL RETAIL SPACE PER CAPITA** 22.04 square feet TOTAL SALES PRODUCTIVITY FOR NON-ANCHOR MALL TENANTS, 12 MONTHS ENDING AUGUST 2016 (ICSC): $932 6e.

    Data Source for Household Income: Environics Analytics **Data Source for Retail Space per Capita: 2017 CSCA Shopping Centre Database, Ryerson University, https://csca.ryerson.ca/ Hillcrest Mall, Richmond Hill 30 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017. All rights reserved.

    In the past five years, many leading malls have seen investments in the form of renovations and expansion. 31 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    GREATER TORONTO AREA, ONTARIO – CANADIAN REGIONAL ANALYSIS 6e.

    6e (i) City Of Toronto: Yorkdale Shopping Centre, Toronto Mall Manager: Oxford Properties Sales Productivity: $1,653 Size (Gross Leasable Area): 1,841,961 sq ft Annual Pedestrian Count: 18,000,000 Expansion/Renovation Plans? Yes - Southwest wing with RH and Sporting Life (fall 2017), Holt Renfrew expansion Parking Spaces: 8,000 Highway/Transit Access? Major roadway and transit Anchors over 50,000 sq ft: Hudson’s Bay 300,870 sq ft Nordstrom 199,000 sq ft Holt Renfrew 121,000 sq ft *October 2017: Restoration Hardware 69,000 sq ft SilverCity Theatre 68,470 sq ft *October 2017: Sporting Life 48,700 sq ft CF Toronto Eaton Centre, Toronto Mall Manager: Cadillac Fairview Sales Productivity: $1,528 Size (Gross Leasable Area): 2,098,754 sq ft Annual Pedestrian Count: 50,100,000 Expansion/Renovation Plans? Yes (Samsung Store, Pedway) Parking Spaces: 1,300 Highway/Transit Access? Transit Anchors over 50,000 sq ft: Nordstrom Saks Fifth Avenue/Pusateris H&M Hudson’s Bay 220,000 sq ft 169,000 sq ft 58,000 sq ft N/A sq ft CF Sherway Gardens, Toronto Mall Manager: Cadillac Fairview Sales Productivity: $979 Size (Gross Leasable Area): 1,083,139 sq ft Annual Pedestrian Count: N/A Expansion/Renovation Plans? Yes - ‘Nordstrom Wing’ now open Parking Spaces: 5,161 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Hudson’s Bay Saks Fifth Avenue Nordstrom 223,477 sq ft 143,200 sq ft 140,000 sq ft CF Fairview Mall, Toronto Mall Manager: Cadillac Fairview Sales Productivity: $956 Size (Gross Leasable Area): 861,009 sq ft Annual Pedestrian Count: 14,000,000 Expansion/Renovation Plans? Yes Parking Spaces: 4,588 Highway/Transit Access? Major roadway and transit Anchors over 50,000 sq ft: Hudson’s Bay Sears (Closing) SilverCity 152,420 sq ft 149,552 sq ft 59,401 sq ft TOP REGIONAL MALLS 32 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017.

    All rights reserved.

    33 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    GREATER TORONTO AREA, ONTARIO – CANADIAN REGIONAL ANALYSIS 6e. Scarborough Town Centre, Toronto Mall Manager: Oxford Properties Sales Productivity: $866 Size (Gross Leasable Area): 1,593,248 sq ft Annual Pedestrian Count: 22,000,000 Expansion/Renovation Plans? Yes Parking Spaces: 5,708 Highway/Transit Access? Major roadway and transit Anchors over 50,000 sq ft: Hudson’s Bay Sears (Closing) Walmart Famous Players 252,656 sq ft 231,590 sq ft 158,810 sq ft 105,000 sq ft Bayview Village, Toronto Mall Manager: QuadReal Sales Productivity: $813.21 Size (Gross Leasable Area): 313,642 sq ft Annual Pedestrian Count: N/A Expansion/Renovation Plans? Yes - substantial mall redevelopment planned Parking Spaces: 2,164 Highway/Transit Access? Major roadway and transit Anchors over 50,000 sq ft: Loblaws 70,000 sq ft 6e (ii) Downtown Toronto Centres (Under 250,000 sq ft, and Highly Productive): Holt Renfrew Centre, Toronto Mall Manager: Morguard Sales Productivity: $1,009 Size (Gross Leasable Area): 242,510 sq ft Annual Pedestrian Count: 7,139,892 Expansion/Renovation Plans? No (Yes for Holt Renfrew anchor upstairs) Parking Spaces: N/A Highway/Transit Access? Transit Anchors over 50,000 sq ft: Holt Renfrew 181,415 sq ft Royal Bank Plaza, Toronto Mall Manager: Oxford Properties Sales Productivity: $1,053 Size (Gross Leasable Area): 116,003 sq ft Annual Pedestrian Count: Not reported Expansion/Renovation Plans? N/A Parking Spaces: 627 Highway/Transit Access? Transit Anchors over 50,000 sq ft: None CF Toronto Eaton Centre, Toronto 34 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017.

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    Toronto Dominion Centre, Toronto Mall Manager: Cadillac Fairview Sales Productivity: $866 Size (Gross Leasable Area): 163,404 sq ft Annual Pedestrian Count: Not available Expansion/Renovation Plans? No Parking Spaces: 1,090 Highway/Transit Access? Transit Anchors over 50,000 sq ft: None 6e (iii) West Greater Toronto Area: Square One Shopping Centre, Mississauga Mall Manager: Oxford Properties Sales Productivity: $1,064 Size (Gross Leasable Area): 1,904,595 sq ft Annual Pedestrian Count: 23,000,000 Expansion/Renovation Plans? YES - north-west expansion plans in the works Parking Spaces: 8,704 Highway/Transit Access? Major roadway and transit Anchors over 50,000 sq ft: Walmart Hudson’s Bay Holt Renfrew La Maison Simons 220,000 sq ft 188,000 sq ft 140,000 sq ft 113,000 sq ft Erin Mills Town Centre, Mississauga Mall Manager: Morguard Sales Productivity: $536.98 Size (Gross Leasable Area): 847,532 sq ft Annual Pedestrian Count: 9,000,000 Expansion/Renovation Plans? No Parking Spaces: 4,517 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Walmart Hudson’s Bay Sears (Closing) 135,892 sq ft 134,073 sq ft 132,227 sq ft Mapleview Centre, Burlington Mall Manager: Ivanhoé Cambridge Sales Productivity: $895 Size (Gross Leasable Area): 635,418 sq ft Annual Pedestrian Count: 6,000,000 Expansion/Renovation Plans? No Parking Spaces: 2,861 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Hudson’s Bay Sears (Closing) 129,066 sq ft 125,707 sq ft Square One Shopping Centre, Mississauga 35 © Retail Council of Canada 2017.

    All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    GREATER TORONTO AREA, ONTARIO – CANADIAN REGIONAL ANALYSIS 6e. Bramalea City Centre, Brampton Mall Manager: Morguard Sales Productivity: $580 (enclosed mall only) Size (Gross Leasable Area): 1,499,782 sq ft Annual Pedestrian Count: 16,000,000 Expansion/Renovation Plans? Redevelopment and/or renovation to the centre over next 12 months. The balance of the former Target space and the pending availability of the Sears space will necessitate changes to the centre Parking Spaces: 6,109 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Sears (Closing) Hudson’s Bay Metro 157,156 sq ft 131,438 sq ft 63,809 sq ft 6e (iv) North Greater Toronto Area: Vaughan Mills, Vaughan Mall Manager: Ivanhoé Cambridge Sales Productivity: $792 Size (Gross Leasable Area): 1,270,163 sq ft Annual Pedestrian Count: 14,000,000 Expansion/Renovation Plans? No Parking Spaces: 6,213 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Winners Bass Pro Shops 131,184 sq ft 61,405 sq ft Upper Canada Mall, Newmarket Mall Manager: Oxford Properties Sales Productivity: $779 Size (Gross Leasable Area): 996,183 sq ft Annual Pedestrian Count: 7,400,000 Parking Spaces: 4,900 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Hudson’s Bay Sears (Closing) 142,776 sq ft 121,869 sq ft CF Markville, Markham Mall Manager: Cadillac Fairview Sales Productivity: $809 Size (Gross Leasable Area): 874,273 sq ft Annual Pedestrian Count: 12,000,000 Expansion/Renovation Plans? Yes Parking Spaces: 5,138 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Hudson’s Bay Walmart Winners/HomeSense 140,094 sq ft 131,028 sq ft 50,973 sq ft 36 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017.

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    Hillcrest Mall, Richmond Hill Mall Manager: Oxford Properties Sales Productivity: $523 Size (Gross Leasable Area): 498,029 sq ft Annual Pedestrian Count: 6,700,000 Expansion/Renovation Plans? Yes (Target space to be re-tenanted) Parking Spaces: 2,631 Highway/Transit Access? Both Anchors over 50,000 sq ft: Hudson’s Bay 136,915 sq ft 6e (v) East Greater Toronto Area: Oshawa Centre, Oshawa Mall Manager: Ivanhoé Cambridge Sales Productivity: $717 Size (Gross Leasable Area): 1,140,006 sq ft Annual Pedestrian Count: 10,000,000 Expansion/Renovation Plans? Yes - Expansion Parking Spaces: 5,818 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Sears (Closing) Hudson’s Bay 132,118 sq ft 122,624 sq ft Pickering Town Centre, Pickering Mall Manager: Cushman & Wakefield Sales Productivity: $488* Size (Gross Leasable Area): 924,554 sq ft Annual Pedestrian Count: 9,880,000 Expansion/Renovation Plans? Yes Parking Spaces: 4,296 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Sears (Closing) Hudson’s Bay 164,348 sq ft 121,730 sq ft *Number obtained from landlord website.

    37 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    HAMILTON/ST. CATHARINES/ NIAGARA, ONTARIO METROPOLITAN POPULATION: 1,190,100 (Stats Canada, 2016) POPULATION GROWTH BETWEEN 2015 & 2016: 0.9% AVERAGE HOUSEHOLD INCOME:* $101,143 (Hamilton) SHOPPING MALL RETAIL SPACE PER CAPITA** 23.11 (Hamilton) 25.01 (Saint Catharines) 6f. *Data Source for Household Income: Environics Analytics **Data Source for Retail Space per Capita: 2017 CSCA Shopping Centre Database, Ryerson University, https://csca.ryerson.ca/ CF Lime Ridge, Hamilton 38 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017. All rights reserved.

    CF Lime Ridge, Hamilton Mall Manager: Cadillac Fairview Sales Productivity: $749 Size (Gross Leasable Area): 794,517 sq ft Annual Pedestrian Count: 10,000,000 Expansion/Renovation Plans? No Parking Spaces: 4,309 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Sears (Closing) Hudson’s Bay 143,643 sq ft 125,307 sq ft Outlet Collection At Niagara, Niagara-on-the-Lake Mall Manager: Ivanhoé Cambridge Sales Productivity: $694 Size (Gross Leasable Area): 547,817 sq ft Annual Pedestrian Count: 6,000,000 Expansion/Renovation Plans? No Parking Spaces: 2,796 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Bass Pro Shops 81,250 sq ft Pen Centre, St.

    Catharines Mall Manager: Cushman & Wakefield Sales Productivity: $566* Size (Gross Leasable Area): 1,072,132 sq ft Annual Pedestrian Count: 11,000,000 Expansion/Renovation Plans? N/A Parking Spaces: 5,000 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Sears (Closing) Hudson’s Bay Zehrs Empire Theatres 194,611 sq ft 150,688 sq ft 59,908 sq ft 48,888 sq ft *Number obtained from landlord leasing site TOP REGIONAL MALLS 39 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    • OTTAWA/CAPITAL REGION METROPOLITAN POPULATION: 1,351,100 (Stats Canada, 2016) POPULATION GROWTH BETWEEN 2015 & 2016: 1.4% AVERAGE HOUSEHOLD INCOME:* $116,815 (Ontario) $87,434 (Québec) SHOPPING MALL RETAIL SPACE PER CAPITA** 20.92 square feet Total Sales Productivity for Non-Anchor Mall Tenants, 12 Months (Ending July 2017 – ICSC) $699 RETAIL COUNCIL OF CANADA ANALYSIS
    • The Ottawa/Capital Region has consistently seen gains in its total annual sales per square foot productivity for its malls between 2015 and 2017. In 2017, the region’s average was $699 – compared to $697 in 2016 and $687 in 2015 (ICSC).

    The downtown CF Rideau Centre has seen substantial improvements including the addition of a La Maison Simons store in the summer of 2016, as well as a multi-level retail wing with a striking design. 6g. CF Rideau Centre, Ottawa 40 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017. All rights reserved.

    CF Rideau Centre has seen substantial improvements including a multi-level retail wing with a striking design. 41 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

    OTTAWA/CAPITAL , ONTARIO – CANADIAN REGIONAL ANALYSIS 6g.

    CF Rideau Centre, Ottawa Mall Manager: Cadillac Fairview Sales Productivity: $987 Size (Gross Leasable Area): 1,003,228 sq ft Annual Pedestrian Count: 21,000,000 Expansion/Renovation Plans? No Parking Spaces: 1,330 Highway/Transit Access? Major roadway and transit Anchors over 50,000 sq ft: Hudson’s Bay Nordstrom La Maison Simons 335,000 sq ft 157,000 sq ft 103,874 sq ft Bayshore Shopping Centre, Nepean Mall Manager: Ivanhoé Cambridge Sales Productivity: $707 Size (Gross Leasable Area): 883,641 sq ft Annual Pedestrian Count: 7,000,000 Expansion/Renovation Plans? No Parking Spaces: 2,200 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Hudson’s Bay Winners 184,324 sq ft 58,880 sq ft St.

    Laurent Shopping Centre, Ottawa Mall Manager: Morguard Sales Productivity: $551 Size (Gross Leasable Area): 886,802 sq ft Annual Pedestrian Count: Not reported Expansion/Renovation Plans? Not reported Parking Spaces: 4,104 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Hudson’s Bay Sears (Closing) 158,314 sq ft 149,141 sq ft Carlingwood Mall, Ottawa Mall Manager: Cushman & Wakefield Sales Productivity: $447 Size (Gross Leasable Area): 521,206 sq ft Annual Pedestrian Count: 7,500,000 Expansion/Renovation Plans? N/A Parking Spaces: 2,400 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Sears (Closing) 179,319 sq ft TOP REGIONAL MALLS 42 CANADIAN SHOPPING CENTRE STUDY, 2017 © Retail Council of Canada 2017.

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    Les Promenades Gatineau, Gatineau Mall Manager: Oxford Properties Sales Productivity: $405 Size (Gross Leasable Area): 830,424 sq ft Annual Pedestrian Count: 9,200,000 Expansion/Renovation Plans? Not reported Parking Spaces: 3,130 Highway/Transit Access? Major roadway Anchors over 50,000 sq ft: Costco Hudson’s Bay La Maison Simons 144,316 sq ft 140,363 sq ft 80,500 sq ft CF Rideau Centre, Ottawa 43 © Retail Council of Canada 2017. All rights reserved. CANADIAN SHOPPING CENTRE STUDY, 2017

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