This time we’re welcoming Tim Sanderson, the Executive Vice President & National Lead, Retail, at JLL. Throughout his career, Tim has always been involved with retail and real estate, making him the perfect person to gain insight from about the current state of retail in Canada.
Tim takes us through different types of retail properties and explains how each of them are faring in this post-COVID world. He reveals why many shopping malls are back to pre-COVID sales levels, but also explains why some retail assets are having a difficult time recovering.
Topics covered include:
- Why retail was under fire even before the pandemic.
- The varying effects of the pandemic on pension fund-owned malls versus privately owned ones.
- Data sources used for making decisions on trade areas.
- Malls moving more towards entertainment rather than fashion.
- Why less people are going to malls, yet sales numbers have recovered.
- Considerations when adding residential units to retail areas.
- A change in consumer habits post-COVID regarding strip malls.
- Street-front retail’s continued struggles.
- What it was like for Tim to graduate during a recession.
- Why bars and restaurants are what create neighbourhoods, and why people sometimes move out of them.
- Working with CIBC in the 1980s and how new locations were determined.
- Renewed vigor that Tim is seeing from retail landlords right now.
More about our guest….
Based in Toronto, he assists his clients with their expansion programs, site selection and analyses, market strategies and deal negotiation and leads a team of over 45 individuals.
Tim founded and served as CEO for over 25 years at Northwest Atlantic, a successful tenant mandated retail real estate consulting firm. With Northwest Atlantic now part of JLL, Tim brings over 30 years of experience in the real estate industry to the JLL team. Since 1991, Tim has provided tenant representation services to several anchor status retailers throughout Canada, including Apple, Anthropologie, Urban Outfitters, Costco, Restoration Hardware, LA Fitness Cineplex Odeon, The Rec Room, Playdium and Eataly.
Prior to founding Northwest Atlantic, Tim held a number of executive real estate management positions for several national retail chains.
Tim earned a Bachelor of Arts degree in Political Science and a Master’s degree in Environmental Studies, specializing in Urban Planning and Land Development from York University.
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