By Jennifer Nhieu and Dr. Tony Hernandez

In this CSCA Research Insight, we report on how a cross-section of major shopping centres across Canada changed from 1996 to 2022. We report on changes that have taken place in tenant mix, store size, vacancy and tenant survival rates. Our findings highlight the reconfiguration of former Target and Sears stores, the growth of larger format retailers (e.g., unisex fashion, sporting goods and home furnishings) and an uptick in vacant space. By tracking MSCs over time, we can observe how they evolved to meet their tenant’s needs and changes in consumer behaviour.