Cadillac Fairview has emerged as the dominant landlord in Canada’s latest shopping centre productivity rankings, reinforcing its position at the top of the country’s retail real estate sector.
According to newly released data from ICSC, Cadillac Fairview properties account for a significant share of Canada’s highest-performing malls by sales per square foot. The company has seven centres ranked among the top 10 nationally, and 13 within the top 25.
Lillian Tummonds, Senior Vice President of Retail Operations at Cadillac Fairview, says the results reflect both the scale and strength of the company’s portfolio.
“We own 14 shopping centres across Canada, and 38 percent of Canadians live within a 20-minute drive to one of our shopping centres”, she said in an interview. “That’s a huge driver of traffic to our properties.”
Scale and Market Reach Drive Performance
Cadillac Fairview’s national footprint provides a structural advantage. With assets located in major urban markets and regional hubs, the company is able to capture a large share of Canadian retail demand.
This scale is reflected in the productivity rankings. Centres such as CF Toronto Eaton Centre, CF Pacific Centre, and CF Chinook Centre consistently rank among the country’s top performers, supported by strong tenant demand and high levels of foot traffic.
Tummonds points to accessibility and proximity as key drivers of this success, noting that a significant portion of the population is within close reach of a Cadillac Fairview property.
Tenant Mix and Continuous Evolution
Beyond scale, Cadillac Fairview attributes its performance to ongoing curation and evolution of its tenant mix. The company continues to refine its retail offerings based on consumer demand, bringing in brands and concepts that resonate with shoppers.
“We’re always evolving our retail mix,” said Tummonds. “We’re focusing on what our consumers are telling us, what they need and what they’re looking for, and ensuring that we bring those retailers to the shopping centres.”
Recent leasing activity reflects this approach. At CF Pacific Centre, the redevelopment of the former Nordstrom space is progressing with multiple tenants secured, including the highly anticipated arrival of a 92,000 square foot La Maison Simons and a 41,800 square foot Aritzia flagship.
Elsewhere in the portfolio, new retail and food concepts continue to be introduced. These include Uniqlo at CF Polo Park, Shake Shack’s first Alberta location at CF Chinook Centre in Calgary, and additional dining and experiential offerings across key properties.
Experience and Dwell Time Increasingly Important
While sales per square foot remains the primary benchmark for performance, Cadillac Fairview is also focused on enhancing the overall customer experience within its centres.
Tummonds noted that in addition to productivity and traffic, the company closely monitors how long customers spend in its malls.
“I think another part of things that we look at is dwell time,” she said. “That speaks to experiences. Putting a café in there just improves that dwell time. People spend a little bit more time there, have a beverage, have an experience.”
This emphasis on experience is reflected in recent store openings and concepts that combine retail with food, beverage, and lifestyle elements, encouraging longer visits and repeat traffic.
Retailers Investing in Physical Stores
The strong performance of Cadillac Fairview’s centres also reflects broader trends within the retail industry. Despite earlier concerns about the long-term impact of e-commerce, consumers have returned to physical shopping environments in significant numbers.
“People have come back to the malls,” said Tummonds. “Retail is here to stay.”
Retailers are responding accordingly, investing in store environments and prioritizing high-performing locations. This includes both established brands and digitally native retailers expanding into physical retail.
A Competitive and Concentrated Market
The latest productivity rankings highlight a broader trend across Canada’s shopping centre sector. Performance is increasingly concentrated among a relatively small group of dominant assets, many of which are owned or managed by Cadillac Fairview.
At the same time, other centres face growing pressure to adapt, particularly as retailers become more selective about where they open and invest.
For Cadillac Fairview, continued reinvestment and responsiveness to consumer demand remain central to maintaining its position.
“Retail continues to evolve, and we have to evolve with it,” said Tummonds.
