By Matthew Emmons and Dr. Tony Hernandez

Our analysis is about the story of the real estate that underpinned US-based Target coming to Canada and how that space has been absorbed over the almost two years since Target left. We trace how Target's Canadian journey progressed from announcing acquisition-based entry to Canada in 2011 to their ultimate exit from Canada in spring 2015 to the retail aftermath (as of October 2016). We examine how the process of absorption has worked itself out in bringing some of these properties back to permanent income generating uses and what tenant mix and space changes have taken place to date to make this possible.