Landmark transaction brings together a prominent Class A office tower and a rare collection of contiguous high-street retail properties on Stephen Avenue, Calgary's most recognized pedestrian corridor.
Transaction volume remained consistent with historical levels, with 54 deals completed and activity evenly split between the first and second halves of the year.
Plaza's portfolio at December 31, 2025, includes interests in 191 properties totaling approximately 8.8 million square feet across Canada and additional lands held for development.
Demand for space at both shopping centres has strengthened to start the year, with multiple retailers under construction, major brands returning or expanding.
In 2025, CT REIT said it invested approximately $235 million in completed projects and ongoing developments and grew the portfolio by approximately 893,000 square feet of GLA.
Primaris significantly augmented its portfolio in 2025 recycling capital with $1.6 billion of leading enclosed shopping centre acquisitions, and $400 million of non‑core dispositions.
First Capital invested approximately $190 million into its properties during 2025, primarily through development, redevelopment, residential inventory and strategic acquisitions.
JLL forecasts that 65% of former Hudson’s Bay retail space in Canada will be committed within two years, largely through multi-tenant retail strategies.