Ka-ching! At $1,610 a square foot, Toronto’s Yorkdale Shopping Centre crowned Canada’s most profitable mall

TORONTO – 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 sq . ft . in 2015.

That bumped Vancouver’s CF Pacific Centre, which topped the list the year before, into second devote 2015. CF Pacific Centre generated $1,599 in sales per square foot this past year.

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Vancouver’s Oakridge Centre came in third place, raking in $1,537 per square foot.

Toronto’s Eaton Centre, Ottawa’s CF Rideau Centre, Edmonton’s Southgate Centre and Mississauga’s Square One were also one of the Top 10 most profitable shopping malls.

Bill Argeropoulos, principal and exercise leader of Canadian research at Avison Young, says more than $4.5 billion worth of retail properties altered last year. That was down 31 per cent in 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 do just fine,” Argeropoulos said inside a statement.

“The retail sector is constantly on the attract new entrants and significant investor interest as well,” added Argeropoulos, who noted that hundreds of millions of dollars have been invested to renovate, expand or upgrade a few of the country’s prominent malls to draw in new retailers and combat e-commerce.