Two Vancouver malls have landed in the top ten for sales per square foot in North America. Pacific Centre came out on top with average sales of $1580/ sq ft. That is $100 more than last year’s champ Caesar’s Palace in Las Vegas. With such strong sales it’s no wonder Pacific Centre is considering expansion by adding a luxury retailers section. Oakridge Centre came in at the number 6 spot.
1. Pacific Centre, Vancouver BC Canada: $1580/sq ft
2. Caesar’s Palace, Las Vegas NV USA: $1470/sq ft
3. Toronto Eaton Centre, Toronto ON Canada: $1320/sq ft
4. Yorkdale Shopping Centre, Toronto ON Canada: $1300/sq ft
5. Ala Moana Shopping Centre, Honolulu HI USA: $1250/sq ft
6. Oakridge Shopping Centre, Vancouver BC Canada: $1200/sq ft
7. Chinook Centre, Calgary AB Canada: $1055/sq ft
8. Mall at Short Hills, Short Hills NJ USA: $1050/sq ft
9. Mall at Millenia, Orlando FL USA: $1040/sq ft
10. Rideau Centre, Ottawa ON Canada: $1020/sq ft
Source: KPMG via Retail – Insider
Furthermore, once Sears closes , renovations are completed for Nordstrom to move in and additional mall retail space is added on the bottom level the sales per square foot will more than likely increase as the mall traffic will be a lot higher, all else constant of course. However, if Apple vacates it’s Pacific Centre spot to open up the long rumoured flagship store on or near Robson Street that would have a significant impact on Pacific Centre’s retail sales.
Pacific Centre is constantly adding new retailers, here are some of the recent additions (images via Built Form on SSP.com):
Main image: Arnold C (User:Buchanan-Hermit)