The recently released report, the ‘International Investment Atlas Summary 2010’ from Cushman & Wakefield places Canada seventh in global investment in commercial real estate. Even better, this report shows that commercial real estate investment volume is up 150% over the previous year!
The other leaders in this study included:
Our shopping habits may have changed a lot in some ways since the construction of the first covered Canadian shopping mall in 1950. Though in many ways they have stayed the same, and so has the way people enjoy shopping.
While the first monster sized shopping mall, Park Royal in West Vancouver, has certainly had its successes, not everyone wants to have to go to a large mall every time they need something. More and more shopping centres are being converted, or are developing plans to be converted, into large, mixed use, luxurious malls, though many Canadians say they love their local shopping centres just the way they are. People still prefer buying from faces they recognize and who know their names, and perhaps more importantly, don’t want to have to take 15 minutes to park and then walk equally as long to get to a single store they want to visit. They like the small local shopping centre feel. Some citizens are even very actively protesting against this new breed of mall.
Calgary
Calgary is perhaps the most buoyant and brightest commercial real estate market in the country with retail sales already seeing the second highest growth rate in Canada, and predicted to soon become number one. This is a pole position expected to be held until at least 2015 with many retailers choosing Calgary as the location for their first and second Canadian store openings. In fact this jewel in Alberta’s commercial real estate crown already boasts a vacancy rate of just 2.4% with some areas as low as 1.7 percent!
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