Edmonton Journal – Edmonton retail lease rates among cheapest in the world: report

From the Article

Canada’s premier retail streets are leased at bargain rates compared to similar locations around the world, and Edmonton is among the cheapest, according to Colliers International’s 2011 Global Retail Report.

Also from the Article

Drew Keddy, a Colliers International vice-president, says Canada is considered a very attractive destination for high-end retailers.

“Canada is positioned in a unique place in terms of market attractiveness to retailers. Our economy has bounced back faster than other markets around the world, and our currency continues to strengthen. These factors, coupled with high sales per square foot and relatively low rent rates, create perfect conditions for international players to expand their presence here,” he said in a statement.

This article reinforces our earlier prediction: On the strength of our energy resources, Alberta’s economy is set to take off again and the boom will spread to other sectors like commercial construction and retail development.