Edmonton Retail Market Report

Resilient economy to continue fuelling space demand. Leasing momentum remained strong last year. Despite the closure of five Hudson’s Bay department stores — removing roughly 750,000 square feet — net absorption was still positive at 470,000 square feet. The pace of backfilling has also outperformed many other metros. At Londonderry Mall, Zellers now occupies 60,000 square feet of former Hudson’s Bay space, while the remaining area is expected to be subdivided into smaller mid-format units. This strategy is to attract a broad mix of tenants, including value retailers, entertainment concepts, and grocery operators. Looking ahead, Edmonton’s population growth and resilient local economy should help sustain retail space demand despite ongoing trade-related uncertainty. If oil prices remain elevated for an extended period, stronger employment and income growth could further support consumer spending and leasing activity.