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CF Sherway Gardens completes $550M redevelopment

The final phase of CF Sherway Gardens’ $550-million redevelopment, one of the largest Cadillac Fa...

The final phase of CF Sherway Gardens’ $550-million redevelopment, one of the largest Cadillac Fairview projects in recent history, will officially open on Tuesday, Aug. 29.

Nordstrom is one of the anchor retailers at the redeveloped CF Sherway Gardens in Toronto.

Nordstrom is one of the anchor retailers at the redeveloped CF Sherway Gardens in Toronto. (Rendering courtesy CF Sherway Gardens)

“Our goal is to heighten the journey for our customers at every moment by continuing to innovate the shopping experience,” said CF Sherway Gardens general manager Andy Traynor. “The new south wing expansion makes room for new best-in-class retailers, ultimately extending the mall’s appeal.”

The Etobicoke, Ont. shopping centre’s new south wing is comprised of 250,000 square feet of additional retail space. The redevelopment also includes: new flooring, ceilings, lighting and washrooms; the full restoration of the mall’s iconic white “tent” roof; and a re-merchandising of 90,000 square feet of existing retail space.

A 140,000-square-foot Nordstrom, a 30,000-square-foot Zara, Nike, Saje, BonLook, L’Intervalle, The Danish Pastry House, Loding, MAC and Squish will debut in the south wing.

“Our retail partnerships are incredibly important to us, and joining forces with like-minded retailers such as Nordstrom allows us to continue to offer our customers the best possible retail experiences,” said Traynor.

CF Sherway Gardens’ redevelopment phases

CF Sherway Gardens opened in 1971. Its redevelopment was done in three phases.

The 2015 north wing expansion added 210,000 square feet of space and welcomed more than 50 new retailers, including: a 24,000-square-foot flagship Harry Rosen; a relocated 38,000-square-foot Sporting Life; and a completely renovated 225,000-square-foot Hudson’s Bay.

The Gourmet Fare food court was expanded and The Keg Steakhouse + Bar and Joey Restaurants (both with rooftop patios) were added along with three upgraded parking decks.

Saks Fifth Avenue, which included a Pusateri’s Fine Foods gourmet grocery store and the Beaumont Kitchen restaurant, joined the shopping centre as part of the second phase in 2016.

Cadillac Fairview — the real estate arm of the Ontario Teachers’ Pension Plan with a 67-property Canadian office, retail and mixed-use property portfolio valued at more than $28 billion — is the only Canadian shopping mall operator with three properties housing both Nordstrom and Saks Fifth Avenue stores.

Enhancing consumer experiences

Renovations and retrofits within individual store spaces are also planned and will continue as additional retail brands are introduced at CF Sherway Gardens along with new consumer experiences.

“The in-property shopping experience has changed dramatically over the years,” said Traynor. “We’re continuing to evolve the shopping centre and looking to attract new retail brands and build on CF’s roster of best-in-class brands, including premium and luxury retailers.”

Cadillac Fairview says its retail tenants account for about 15 per cent of annual luxury sales in Canada.

CF Sherway Gardens was the 11th-most productive shopping centre in Canada, with sales of $989 per square foot, according to the Retail Council of Canada’s 2016 “Canadian Shopping Centre Study.”

Traynor insists that the bricks-and-mortar experience isn’t going away, even with the shifting retail landscape and impact of online shopping. Cadillac Fairview still sees a bright future for its shopping centres.

“CF is well-positioned to adapt to changing consumer behaviours and patterns and has a dynamic approach to anticipate and even create retail trends,” said Traynor.