Migration Creates New Opportunities & Pressures for Atlantic Retailers

Past President of CREW Nova Scotia , Rebecca Todd speaks to the current retail landscape in Atlantic Canada.

The East Coast is buzzing with activity as waves of new arrivals flock to its communities, seeking job opportunities and a vibrant, but liveable lifestyle.

With more residents comes more demand for shopping and services. And while East Coast retailers are eager to cater to the needs of newcomers, the larger cities like Halifax are experiencing a significant retail space shortage. This, along with record high construction costs, is driving rental rates higher and putting pressure on the existing supply of retail space.

“The population is booming, giving the East Coast a new appeal and retailers new opportunities,” says CBRE’s Rebecca Todd, who does retail deals across Atlantic Canada. “But the lack of attractive retail space is a big challenge for entrepreneurs.

“So forward-thinking retailers are expanding their searches beyond the major cities and finding profitable opportunities in secondary or even tertiary markets.”

To view the full article, click here

For more information about retail, reach out to Rebecca directly: rebecca.todd@cbre.com