CEO Alan MacKenzie: Canada Retail is (Mostly) a Landlord's Market - Where We Buy #364

Alan MacKenzie is CEO of JLL Canada, overseeing all business lines including capital markets, work dynamics, leasing, and property management across the country. MacKenzie shares his journey from founding a retail real estate company in 2000 to leading JLL's Canadian operations, including his work bringing Lowe's to Canada and representing Walmart. He discusses the current state of Canadian retail real estate, explaining why vacancy rates at top-tier malls are below 2% despite economic headwinds. MacKenzie also covers the impact of Hudson's Bay department store closures, the bifurcation in consumer spending behavior, and why Canada has been slower than the U.S. in returning to office. He explains the unique characteristics of the Canadian market, including stringent zoning policies, limited new construction, and strong immigration-driven demand that's creating a landlord's market in premium retail locations.   James Cook is the Director of Retail Research in the Americas for JLL.  Subscribe: Apple Podcasts | Spotify  Listen: WhereWeBuy.show  Email: [email protected]  YouTube: http://everythingweknow.show/ Read more retail research here:  http://www.us.jll.com/retail Theme music is Run in the Night by The Good Lawdz, under Creative Commons license.