Each year, commercial real estate giant Cushman & Wakefield releases their annual Main Streets Across the World report.
Now in its 29th edition, the report tracks 451 of the top retail streets from around the globe and ranks the most expensive in 68 countries by prime rental value and enabling an analysis of trends in retail real estate performance.
Montreal’s very own Sainte-Catherine W is ranked as the 10th most expensive in North America. The street rose up one spot on the list from last year’s ranking.
Toronto’s Bloor Street was ranked the most expensive Canadian street on the list, coming in at sixth spot on the list. Vancouver’s Robson Street down one spot from last year into the ninth position.
Out of all Canadian city’s on the list Toronto’s Bloor Street is now recognized as the 25th most expensive street in the entire world.
While the report had little to say about Montreal’s Sainte-Catherine W Street specifically, it did have this to say about Canadian retail:
“Retail rents are reaching both new highs and new lows across the most popular retail streets in Canada, as the battle between location, quality and size of space, and the impact of rising vacancy, driven by the disruption of e-commerce, plays out across core and non-core high-street locations.”
“Canadian retailers are exploring change with a new urgency, from concept, to store experience, to location, including seeking out new formats in “cool-street” areas to buffer or replace traditional high-street locations.”