Cadillac Fairview properties make up more than half of Canada’s highest-performing shopping centres, according to the latest International Council of Shopping Centers’ (ICSC) annual rankings.
It also has 13 of the top 25 Canadian shopping centres in the rankings which measure sales per square feet of properties.
“Across the country, Cadillac Fairview and its best-in-class clients offer exceptional service and experiences for visitors to our shopping centres, which are popular gathering places for our communities,” said Sal Iacono, President and Chief Executive Officer, Cadillac Fairview in a statement.
“This announcement affirms the hard work of our teams in creating and cultivating spaces that bring people together and keep them coming back. It is gratifying to see CF shopping centres consistently recognized in ICSC’s annual rankings, which are proof positive of that commitment and dedication.”
Here are the rankings of CF properties overall:
2. CF Toronto Eaton Centre
3. CF Pacific Centre
4. CF Richmond Centre
5. CF Chinook Centre
7. CF Sherway Gardens
10. CF Carrefour Laval
11. CF Masonville
12. CF Rideau Centre
13. CF Market Mall
15. CF Polo Park
17. CF Fairview Mall
19. CF Markville Mall
25. CF Fairview Pointe Claire
Lillian Tummonds, Senior Vice President of Retail Operations with Cadillac Fairview, said the company is a long-standing holder of its assets.
“This really represents us re-investing in our properties, making sure that they’re relevant and that they’re exciting and fresh for our shoppers but it also tells me that we’re really listening to our customers and making sure that we have the right merchandise mix for these centres that will draw the customers to the malls,” she said.
“Part of the shopping experience is the overall experience of coming to the shopping centre as well. It leads me to believe that we’re doing a good job of listening to what customers are looking for. Even from an entertainment perspective, what we’re trying to influence and inject entertainment into our centres to make sure that people have a lovely shopping experience when they get there.”
The shopping mall experience in Canada has changed dramatically over the years with different tenants popping up in properties that are quite different from what malls traditionally have offered for decades.
“If we look at the retailers, they’re always trying to reinvent themselves and capture the shoppers’ interests. And I think as a landlord for shopping centres, we also want to contribute to that as well to make sure that we have an interesting merchandise mix, to continually draw that interest,” said Tummonds.
“The shoppers’ tastes and expectations change now more quickly than traditionally. That’s what the retailers are working towards to capture the dollars from their customers and that’s what we’re doing on our side when we’re looking at space and leasing space. It’s to make sure that we have those fresh retailers that are coming that are capturing the attention of shoppers and their wallets.”
Entertainment concepts and dining have become ever more important in shopping centres across the country. Going to a shopping centre is no longer just to go shopping.
“It’s the whole experience. You’re not just going into the mall to get your stuff and leave. To draw people to the centre, you just have to have all those elements,” added Tummonds.
For example, recently CF Chinook Centre in Calgary had an interactive, immersive visual experience called Mirror Mirror in the former Nordstrom space.
“And that brought in a whole different level of people coming to the Centre experiencing this entertainment piece,” said Tummonds.
CF Toronto Eaton Centre within the past year had the Canadian Chroma immersive experience.
“We’re taking advantage of some of the spaces that we have at our centres to activate and animate them,” she said.
Currently, the Eaton Centre has the CAMP Cube, shop/play hybrid experience, attracting people to the mall.
Recently also, the Eaton Centre opened the Queen’s Cross Food Hall in partnership with Oliver & Bonacini Hospitality (O&B).
Tummonds said Cadillac Fairview still has five Nordstrom boxes to deal with.
“We are working towards re-animating that and we’re pretty excited but we have nothing to really share at this moment. But we’re actively working on that,” she explained.
