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Where were retail vacancy rates consolidation – it is population growth, and specifically the
at in 2016? Any predictions for 2017? development of new residential subdivisions, which is driving
retail expansion.

Sage Creek Village, Kildonan Green, and Bridgewater
MS: Winnipeg’s retail vacancy rate in 2016 was in the Town Centre are examples of new grocery-anchored
5.0-5.5% range, an improvement over 2015 but still well neighbourhood centres filling the void in previously
above the average of the past decade. With a number of underserviced markets.
major lease deals completed and openings pending, it is
anticipated that this rate will decline further in 2017. Anything we should be looking
The X-factor going forward is Sears. With roughly 600,000 for in retail in 2017?
sq. ft. of space in 4 Winnipeg department stores, the fate of
Sears Canada is being watched closely by our industry.
MS: Grocery competition will continue to intensify as Save-
Where do you think market rents On looks to expand on its 3 store base, Loblaws continues
are going in 2017? to reinvest in their stores, and the Sobeys/Safeway merger
continues to evolve. Federated Co-op is reportedly planning
to renovate its 3 former Safeway locations and it will be
MS: There is still substantial competition for space at prime interesting to see if they seek expansion opportunities as well.
corners and major retail shopping nodes. The scarcity of Lowe’s announced its intention to convert 40 big box Rona
well located vacant commercial land has raised the values stores to the Lowe’s banner starting in 2017, and it is
of prime pad sites for instance. That said, in instances expected that this will include the Winnipeg locations. That
where properties have become outmoded or functionally said, Lowe’s will have a decision to make at the corner of
obsolete, owners will have to reinvest in order to obtain Kenaston & McGillivray. Will they break ground at Linden
market rent. Ridge Shopping Centre (where they leased land prior to the

What are the drivers of retail merger) or will they continue to operate (and rebrand) the
existing Rona store at Kenaston Common? We’ll have to
development in Winnipeg? wait and see.

Interview has been condensed and edited.
MS: As the expansion of large format retail development
slows – due to a combination of market saturation and retail

Building Name # Stores Parking Total sq. ft. Built Management Company Anchor Tenants

Cityplace
1 www.cityplacewinnipeg.com 38 1,200 452,815 1980 Triovest Realty Advisors Inc. Boston Pizza, CIBC, Liquor Mart, Pharma Plus, Shark Club

Garden City Shopping Centre
2 75 2,127 492,892 1970 RioCan Manangement Inc Sears, GoodLife Fitness, Canadian Tire, Winners
www.shopgardencity.ca
Canadian Tire, McNally Robinson Booksellers,
Grant Park Shopping Centre
3 www.grantparkshoppingcentre.com 73 1,927 404,594 1968 Primaris Management Inc. Red River Co-op, Shoppers Drug Mart,
Landmark Cinema, Manitoba Liquor Mart
Kildonan Place Dollarama, Famous Player Theatres, Sears,
4 95 2,313 456,656 1980 Primaris Management Inc.
www.kildonanplace.com Shoppers Drug Mart
CF Polo Park Hudson’s Bay, Sears, SportChek, Scotiabank,
5 www.cfshops.com/polo-park.html 200 5,600 1,202,000 1956 Cadillac Fairview SilverCity Cinemas, Polo Park Lanes

Portage Place Shopping Centre Globe Cinema, Prairie Theatre Exchange,
6 88 1,060 497,561 1987 Peterson Investment Group Limited
www.portageplace.mb.ca Shoppers Drug Mart, Staples
St. Vital Shopping Centre Chapters, London Drugs, Sears, SilverCity Cinemas,
7 www.stvitalcentre.com 160 4,661 933,577 1979 20 Vic Management Inc. SportChek, Hudson’s Bay, Wal-Mart

Winnipeg Square Underground Mall
8 37 950 137,026 1980 Artis REIT Shoppers Drug Mart, Hallmark
www.winnipegsquare.com

9 Manitoba 2017 Commercial Building Directory