Vancouver’s retail leasing market continues to thrive in 2025, driven by both local and international interest in the city’s prime shopping districts. Martin Moriarty, Senior Vice President at Marcus & Millichap Canada, highlights the growing demand for retail space across downtown Vancouver, pointing to key developments in areas like Robson Street, Alberni Street, Gastown, and CF Pacific Centre.
With new brands entering the market and existing retailers expanding their footprints, the retail leasing landscape is seeing significant changes that promise to reshape the city’s commercial core. From high-end luxury brands on Alberni Street to the resurgence of historic Gastown, Vancouver is proving to be a dynamic and resilient market for retailers in 2025.
Robson Street: A Hotspot for International Brands
Robson Street, Vancouver’s premier shopping destination, remains a key focus for both local and international retailers. As Vancouver continues to be a gateway for global brands, the demand for prime retail space on Robson is stronger than ever.
“There’s a lot of exciting stuff happening on Robson. If you’ve got properties to lease here, they’re in high demand,” says Martin Moriarty. Moriarty notes that his company recently received 10 offers for a 1,000-square-foot space on the 1100 block of Robson Street, a testament to the area’s continued vitality.
In addition to its high-profile tenants, Robson Street is attracting more international brands looking to expand their presence in Canada. “The international sentiment is strong, and Vancouver is seen as a prime market,” Moriarty adds. This is reflected in the influx of brands like Adidas, which has opened a massive new store, and JD Sports, moving into the 1000 Block of Robson Street. Homegrown Roots also relocated and is expanding into a space formerly occupied by Peloton, while Arc’teryx is taking the former Roots space at Robson and Burrard Streets.
Despite global geopolitical uncertainty, including concerns over U.S. tariffs and Canada’s immigration policies, the retail leasing market in Vancouver remains resilient. “Vancouver continues to attract major brands due to its strong fundamentals and its position as a retail hub in North America,” Moriarty says.
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Alberni Street: Vancouver’s Luxury Row
Alberni Street, situated at the western edge of downtown, has for over a decade been known as Vancouver’s luxury retail hub. The area’s appeal has only grown in recent years, with a steady stream of high-end brands seeking prime locations along this prestigious stretch. In 2025, the luxury zone continues to evolve, with notable additions to the area.
“Alberni Street is stabilizing well,” Moriarty observes. “Traffic remains strong, and the street is home to some of the world’s most sought-after luxury brands. It’s a small area, so the demand for space is high.” The demand for premium retail locations is evident as more luxury retailers look to secure spots on this exclusive street.
The transformation of the 1100 block of Alberni Street is particularly noteworthy. In this area, several new dining and retail concepts are making their mark. “Comal, a fantastic Mexican restaurant, is opening here, along with Paris Baguette. These new additions will complement the luxury offerings and create a more vibrant, high-end retail environment,” Moriarty explains. This growing mix of dining and luxury retail is contributing to Alberni Street’s continued appeal as a shopping destination for affluent locals and tourists alike.
Further solidifying the area’s luxury reputation, Moriarty hints at a luxury brand that is preparing to take over part of a notable vacant retail space. “There’s some exciting news in store for Alberni Street,” he teases, underscoring the importance of this stretch as a destination for high-end shopping.
CF Pacific Centre: A New Chapter for Vancouver’s Retail Landscape
While Alberni Street attracts the highest-end luxury brands, CF Pacific Centre, located just a few blocks away, is also seeing exciting retail activity in 2025. The mall continues to be a central retail hub in downtown Vancouver, with new openings and developments that promise to reshape the shopping experience in the area.
One of the standout announcements for CF Pacific Centre is the addition of Max & Co and Marella, two first-to-Canada brands. These stores will add significant cachet to the already established retail mix, offering Vancouver shoppers access to exclusive high-end brands. “This is an exciting moment for Pacific Centre. Max & Co and Marella are the first stores in Canada for these brands, and their presence will elevate the shopping experience here,” Moriarty explains. The new stores are part of a broader trend of upscale international brands making their mark in Vancouver, signaling the city’s growing status as a global retail destination.
The addition of these new tenants is just the beginning. The centre is also seeing strong interest from other retailers looking to enter the Vancouver market. The demand for retail space at CF Pacific Centre is higher than ever, with landlords strategically securing the right tenants to complement the mall’s evolving retail mix. “We’ve seen excellent leasing activity in the last year, and there’s still strong interest in prime spaces in the mall,” Moriarty adds.
CF Pacific Centre’s strategic location, along with its high-profile retailers and upcoming openings, makes it one of the most sought-after shopping destinations in Vancouver. The mall’s redevelopment and modernization efforts are ensuring it remains a key player in the city’s retail landscape. That includes new tenants for the mall’s former Nordstrom space, and the demolition and rebuild of a tower that once housed the Four Seasons Hotel.
Gastown: A Resurgence in Vancouver’s Historic District
Gastown, Vancouver’s historic district, is experiencing a much-needed resurgence. The area, known for its cobblestone streets and historic buildings, was one of the neighbourhoods hardest hit by the pandemic. However, in 2025, it is showing strong signs of recovery, with increasing sales and decreasing vacancy rates.
“Gastown was hit hard by COVID, but we’re seeing positive signs of recovery,” Moriarty notes. “Sales are improving, and there’s definitely less vacancy now than in previous years. The area’s charm, combined with its growing appeal as a destination for both locals and tourists, is helping to bring it back.”
The unique architecture of Gastown, with its heritage buildings and cobblestone streets, adds a distinctive charm that cannot be replicated in other parts of the city. This has proven to be an asset in the area’s revitalization. “Landlords in Gastown are being very selective about who they bring in,” Moriarty says. “They want tenants that fit the aesthetic of the neighborhood and can add to its unique vibe. It’s about creating a high-quality mix that reflects the area’s character.”
Cruise ship traffic, which brings thousands of tourists to Vancouver each year, also plays a significant role in Gastown’s recovery. The influx of visitors is helping to boost sales for retailers in the area, especially in the summer months. “The cruise traffic is strong, and that helps drive foot traffic,” Moriarty adds.
As the neighborhood continues to recover, there is hope that Gastown will fully regain its former glory, attracting even more visitors and retailers to the area. “The future of Gastown is bright,” Moriarty says. “It may take time, but it’s heading in the right direction.”
Granville Street: Resilient Despite Challenges
Granville Street, once Vancouver’s premier retail thoroughfare, has seen its share of challenges in recent years. However, new developments and an influx of diverse tenants are helping the street remain relevant in Vancouver’s retail ecosystem.
“Granville Street has had its ups and downs, but there’s definitely new life being breathed into the area,” Moriarty says. The Rec Room, a new entertainment and dining venue, has opened its doors on Granville, signaling the shift towards experiential retail in the area. Additionally, retailers like Winners and Marshalls have made moves in the area, with Winners relocating to the 600 block, and Marshalls taking over a spot previously occupied by Winners on the 800 block. These new tenants are contributing to the revitalization of Granville, offering shoppers a blend of affordable fashion and home goods in a vibrant urban setting.
In addition to these openings, significant changes are on the horizon for Granville Street. The redevelopment of the former Nordstrom building is expected to shift the retail landscape, as new tenants move into this prime space. “The Nordstrom building will bring a fresh dynamic to the area, offering new opportunities for both retailers and shoppers,” Moriarty notes. The transformation of this space, alongside the redevelopment of the Hudson’s Bay flagship store, will further contribute to Granville’s revitalization, creating an even more diverse and appealing shopping destination.
Yaletown: Dining and Experience Over Retail
Yaletown, once known for its boutique retail offerings, has shifted over the years to become a neighborhood centred around dining, entertainment, and fitness. While there is still some retail presence, the area has largely evolved into a destination for food and drink enthusiasts as well as those looking for unique fitness experiences.
“Yaletown has become more about dining and entertainment than traditional retail,” Moriarty explains. “It’s a destination for a meal, a drink, or a workout class. There’s still retail, but it’s more about the experience than the product.”
This shift in focus has proven successful, with Yaletown continuing to attract locals and tourists alike who are looking for a vibrant mix of dining, nightlife, and fitness offerings. The trend toward experiential retail has been a key driver of the neighbourhood’s transformation.
Davie and Denman Streets: Service-Driven and Resilient
Davie and Denman Streets, located in Vancouver’s West End, are two neighbourhoods that have remained largely service-driven. Catering to a variety of essential needs, from groceries and fitness to food and quick-service restaurants (QSRs), these streets have continued to perform well, even as retail trends evolve.
“There’s not much vacancy on Davie or Denman,” Moriarty says. “These areas have a strong focus on services, and that’s what people need. We’re seeing rental pressure upwards in these areas, which shows how strong the demand is.”
The dense residential areas surrounding Davie and Denman Streets have helped ensure a steady stream of foot traffic. “These neighbourhoods have a high percentage of return shoppers, so the demand for service-based businesses is strong,” Moriarty explains.
In 2025, Vancouver’s downtown retail scene is a dynamic mix of luxury, innovation, and recovery. While the challenges of the pandemic are still being felt in some areas, the overall sentiment for leasing remains positive.
