TORONTO, ONTARIO -- (Marketwired) -- 07/02/13 -- Yorkdale Shopping Centre announced today it has achieved another first by reaching $1 billion in retail sales. Sales from June 2012 to May 2013 have resulted in the shopping centre's most productive year over year performance to date, representing more than $1300 sales per square foot.
Owned by Oxford Properties Group and Alberta Investment Management Corporation (AIMCo), Yorkdale Shopping Centre' sales figures can be attributed to a number of factors including the first-in-Canada labels that the centre attracts and the significant investment put towards multiple expansion efforts.
"We set out to build a world-class retail centre and this sales milestone confirms that we've achieved our goal," said Anthony Casalanguida, General Manager of Yorkdale Shopping Centre. "The sky is the limit for Yorkdale and we are poised for even more dramatic growth with plans for yet another expansion in place. I am confident Yorkdale will reach sales of $2 billion annually by 2018."
"Yorkdale's impressive sales performance is bucking global trends, and puts it in a class on its own," said James Smerdon, Vice President, Director Retail Consulting, Colliers International. "This sales milestone highlights Canada's stable economy, and steady growth in consumer spending, and affirms Yorkdale's position at the forefront of Canadian retail."
This year alone, Yorkdale introduces 12 new retailers to the shopping centre, including first-to-Canada brands AllSaints (open), David Yurman, (Fall 2013) John Varvatos (Fall 2013), Mulberry (Fall 2013), White House|Black Market (Fall 2013) and Zara Home (Fall 2013). The centre will break ground on a $331 million, 298,000 square foot retail expansion in early January 2014, which will be anchored by Nordstrom and open in fall 2016.
Excluding the Fall 2016 Expansion, Yorkdale Shopping Centre has undergone five major renovations since opening in 1964. Yorkdale Shopping Centre completed a $220 million dollar expansion in 2012 and a $110 million dollar expansion in 2005. Since then, the shopping centre has continued to improve its facilities and today serves as the unrivalled gateway for international retailers entering the Canadian market.
About Yorkdale Shopping Centre
With more than 250 shops and services Yorkdale Shopping Centre is Canada's premier shopping destination. Yorkdale recently underwent a $220 million expansion - the largest and most significant expansion in its history - growing to a total of 1.6 million square feet of retail space that features some of the world's best fashion, technology and luxury brands. Offering 7,400 parking spaces, valet parking and seating reservations at the Dine on 3 food collection, everything about Yorkdale is designed to enhance shoppers' experiences. Yorkdale is co owned by Oxford Properties and Alberta Investment Management Corporation (AIMCo) and managed by Oxford Properties Group. Yorkdale is located at 3401 Dufferin Street, off Allen Road, near the 401. For more information, download the Yorkdale app, visit www.yorkdale.com, or follow @YorkdaleStyle on Twitter, Facebook or Pinterest.
About Oxford Properties
Oxford Properties Group is a global platform for real estate investment, development and management, with over 1,400 employees and over $21 billion of real assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford has regional offices in Toronto, London and New York, and the company's portfolio includes approximately 50 million square feet of office, retail, industrial, multi-family and hotel properties. Oxford is the real estate arm of the OMERS Worldwide Group of Companies. For more information about Oxford, visit: www.oxfordproperties.com.
About Alberta Investment Management Corporation (AIMCo)
AIMCo is one of Canada's largest and most diversified institutional investment managers. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates independently from the Government of Alberta and invests globally on behalf of 28 pension, endowment and government funds in the Province of Alberta, including the Alberta Heritage Savings Trust Fund. For more information about AIMCo, visit www.aimco.alberta.ca.
Most Popular Stories
- Fed Committee Optimistic About Growth Prospects
- How ESPN Became a $50B Sports Empire
- Fight Against Teacher Tenure Gains Momentum
- Challenger Raises Bar on Muscle Cars
- Pot's Legal in WA -- But You Should Probably Ask Your Boss
- President Obama Relishes Roadshow, but Agenda Still Stuck
- Small Businesses Could Get Paid Faster
- Stevie Fielder Changes Tune on Thad Cochran Vote-buying Story
- California Chambers Head for the O.C.
- Reynolds, Lorillard in Merger Talks