Just out with its latest Main Streets Across The World report, Cushman & Wakefield ranks the globe's retail corridors by prime rents. Here are Canada's most expensive streets by city.
1. Bloor Street, Toronto
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Rent: $250/SF per year, down from $260/SF per year in 2015 (all figures are USD)
To note: Retail rents on Bloor (future home of The One, above, with nine levels of luxe retail) are significantly higher than any others in Canada. But they're chicken feed compared with New York’s Fifth Avenue: $3k/SF per year.
2. Robson Street, Vancouver
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Rent: $166/SF per year, down from $176/SF per year in 2015.
To note: Robson has benefited from freshly redeveloped CF Pacific Centre, Canada’s second-most-profitable mall. High-end Aritzia is expanding its presence on the street, and Roots Canada is opening a new flagship there.
3. Saint Catherine Street, Montreal
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Rent: $139/SF per year, down from $144/SF per year in 2015.
To note: The street is slated for a multimillion-dollar makeover, and its intersection with Saint-Laurent Boulevard will welcome Carré Saint-Laurent, a mixed-use project (above) with a 15-metre-tall retail podium.
4. Whyte Avenue, Edmonton
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Rent: $39/SF per year, up from $34/SF per year in 2015.
To note: West Edmonton Mall tends to garner the most attention, but Whyte (82 Avenue), Old Strathcona’s spine, is a funkier alternative, with memorably named boutiques like C’est Sera, The Plaid Giraffe and Bamboo Ballroom.
5. 17th Avenue SW, Calgary
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Rent: $39/SF per year, down from $40/SF per year in 2015.
To note: Calgary’s main retail drag has lured higher-end retailers like Frank + Oak. Canadian spending habits are shifting, Cushman's report finds, with luxury and fast-fashion besting mid-market players.
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