SQUARE ONE ACHIEVES $1 BILLION IN ANNUAL RETAIL SALES
THE OPENING OF LUXURY WING AND FIRST-TO-MARKET RETAILERS CONTRIBUTE TO SQUARE ONE’S HIGHEST YEAR-OVER-YEAR SALES
MISSISSAUGA, ON, May 17, 2017 /CNW/ - Square One announced today it has achieved $1 billion in annual retail sales, the shopping centre’s most productive year over year performance to date. From May 2016 to May 2017 sales have resulted in $1 billion, making the foremost fashion, lifestyle and entertainment destination the second shopping centre in Canada to achieve this milestone.
Owned by Oxford Properties Group and Alberta Investment Management Corporation (AIMCo), Square One’s success can be attributed to a number of factors including the opening of the new 130,000 square foot Holt Renfrew, and a number of luxury and aspirational retailers such as Salvatore Ferragamo, Rolex at Raffi Jewellers and Ontario’s first Simons.
"This incredible sales milestone echoes our mission to create a connected and thriving city centre that inspires our community, maximizes the infinite opportunities of our city and resonates beyond our boundaries,”" says Greg Taylor, Director and General Manager, Square One. “With unprecedented redevelopment, along with the arrival of highly coveted brands to Square One, we will continue to be a passionate and genuine partner in creating and driving positive growth and development in Mississauga’s downtown core. This milestone heralds a new era for Square One as a world-class destination for fashion, lifestyle and entertainment.”
Over the past year, Square One introduced over 30 new retailers, including German premium fashion brand Marc Cain, the first freestanding Urban Decay store in Canada, Japanese lifestyle brand MUJI, Fascination Porsche popup, high-end shoe retailer Stuart Weitzman, and many more.
ABOUT SQUARE ONE SHOPPING CENTRE
Proudly managed by Oxford Properties, Square One is distinctively positioned as Ontario’s largest and foremost fashion, lifestyle and entertainment destination with over 340 merchants including Holt Renfrew, Salvatore Ferragamo, Simons, Apple, Stuart Weitzman, Crate and Barrel, Zara and Whole Foods Market. Square One is owned by Alberta Investment Management Corporation (AIMCo) on behalf of its clients and Oxford Properties Group. Dedicated to sustainability, Square One’s 2.2 million square feet has been recognized and awarded by the City of Mississauga for creating a balance between sustainable environmental programs and an exceptional shopping experience. Square One continues its rapid growth, and is one of Canada’s Top Ten most productive shopping centres with a current sales productivity of $1,056 per square foot. Square One is a designated tourist destination and is open on statutory holidays. For details visit shopSQUAREONE.com. Follow us on Twitter/Instagram @shopSQUAREONE and at Facebook.com/SQUAREONE.
ABOUT OXFORD PROPERTIES GROUP
Oxford Properties Group is one of the world’s premier real estate investment, development and management companies. Established in 1960, Oxford manages over $40 billion of real estate assets on behalf of its co-owners and investment partners, with a global portfolio spanning over 60 million square feet. We have offices across Canada and in London, Luxembourg, Boston, Washington DC and New York, with regional investment, development and management professionals who have deep real estate expertise and local market insight. Oxford is the global real estate arm of OMERS, the pension plan for Ontario’s municipal employees. For more information about our hands-on approach to real estate, visit oxfordproperties.com.
AIMCo is one of Canada’s largest and most diversified institutional investment managers with approximately $90 billion of assets under management. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of 26 pension, endowment and government funds in the Province of Alberta. For more information please visit aimco.alberta.ca.