At an average of $166 per square foot, annual retail leases on Vancouver’s Robson Street are the second most expensive in Canada, but it pales in comparison to the top retail strolls on the planet.
The latest Main Streets Across the World report from Cushman & Wakfield notes that Bloor Street, Toronto, ranks No. 1 in Canada, with average rents of $250 per square foot.
Montreal’s Saint Catherine Street was in third place, followed by Whyte Avenue in Edmonton and Calgary’s 17 Avenue SW, where rents average $39 per square foot, down from $40 per square foot in 2015.
According to market reports, retail investment in Vancouver, Calgary and Edmonton are strengthening.
The most expensive retail streets in the world are New York City’s Fifth Avenue, where typical storefronts rent for US$3,500 per square foot, and the Causeway in Hong Kong, where retail leases average US$2,735 per square foot.
