Hike In Retail Lease Rates Along Robson & Alberni Street

Despite lingering vacancies along Robson Street, retail lease rates along Robson and Alberni Street are on the rise. Robson Street retail rates are upwards of $200 per square foot and Alberni Street at $150 per square foot which is a 30-40% increase over previous years. Robson Street witnessed considerable tenant turnover and landlords saw units that were historically never vacant sit on the market for long periods of time. Because of new development and the rise of US retailers leasing prime time space, other high end retailers are finding renewed confidence in the Robson/Alberni shopping scene. Christian Dior, De Beers, Sephora, and Tory Burch are among the shops that will be joining the retail streetscape.
· Robson and Alberni Street rents on the rise [Vancity Buzz]