Casdin Parr (JLL): Canada's Retail Leasing Market Trends

Craig and Casdin Parr, Vice President Retail Advisory Services at JLL Canada, discuss the current state of Canada’s retail leasing market, delving into the challenges and opportunities facing various retail sectors. They explore how high street retail in cities like Toronto and Vancouver is experiencing a resurgence, with significant openings. Parr highlights the momentum in Bloor-Yorkville in Toronto, and the revival of Ste- Catherine Street in Montreal as key indicators of positive trends in high street retail. The luxury retail segment is discussed, which remains strong despite economic uncertainties. Parr explains that while the demand for luxury retail continues, there is a more tempered approach to expansion, with brands planning their capital investments carefully. Notable developments include the upcoming Royalmont in Montreal and Oakridge Park in Vancouver, both set to introduce new luxury brands to the Canadian market. Further, they discuss the impact of major retail developments and tenant movements in various regions. From Simons entering the Toronto market to the redevelopment of Nordstrom’s space in Vancouver, these changes signal significant shifts in the retail landscape. Parr emphasizes the robust demand for retail spaces in Edmonton and Calgary, driven by strong local economies and consumer responses. Episode Sponsor: Canada's first specialized retail builder. Visit SAJO to see their holistic approach and transdisciplinary team to explore and understand your needs. Interviewed this episode:Sarah Power, Founder of INLANDINLAND This podcast is the audio version of the The Interview Series video podcasts by Retail Insider Canada are available through our Retail Insider YouTube Channel where you can subscribe and be notified when new video episodes are available. Subscribe, Rate, and Review our Retail Insider Podcast! Follow Craig:LinkedIn: www.linkedin.com/in/CraigPattersonTorontoInstagram: @craig_patterson_torontoTwitter: @RI_EIC Follow Retail Insider:LinkedIn: www.linkedin.com/company/Retail-InsiderFacebook: https://www.facebook.com/RetailInsider/Twitter: @RetailInsider_Instagram: @Retail_Insider_Canada Share your thoughts!Drop us a line at [email protected]. You can also rate us in Apple Podcasts or recommend us in Overcast to help more people discover the show!Background Music Credit: Hard Boiled Kevin MacLeod (incompetech.com). Licensed under Creative Commons: By Attribution 3.0 License. http://creativecommons.org/licenses/by/3.0/