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CF Richmond Centre is a 630,766 square foot enclosed regional shopping mall located at 6551 No. 3 Road in Richmond, British Columbia, Canada, operating as a central retail hub in the Vancouver metropolitan area since its opening in 1989. Owned and managed by Cadillac Fairview, the property encompasses 191 stores, restaurants, and services, with key anchors including Hudson's Bay (150,000 sq ft), London Drugs, Uniqlo, and Sporting Life.
The tenant mix focuses on mid-to-upscale fashion, lifestyle brands, and dining options, featuring retailers such as Lululemon, Arc'teryx, Zara, Aritzia, Apple, H&M, Sephora, and Muji, alongside a food court generating $3,124 per square foot in sales.
Overall mall sales average $1,425 per square foot, supported by a diverse category balance that includes 40% fashion, 25% services, and 20% dining. Situated at the terminus of the Canada Line rapid transit system, it offers excellent accessibility via public transport, connecting to Vancouver International Airport and Highway 99, drawing from a trade area population exceeding 500,000 within a 10 km radius.
Richmond's demographics highlight a population of 209,000 with 74% visible minorities (primarily Chinese and South Asian), median household income of $82,000, and robust growth at 23% over the past decade, fueled by immigration and condominium developments averaging $830,000 to $2.2 million in value. The mall maintains occupancy near 95%, positioning it as a stable leasing option amid ongoing redevelopment into a 3.3 million square foot mixed-use destination with over 2,000 residential units, 500,000 sq ft of new retail, and amenities across a 27-acre site.
This expansion enhances long-term footfall potential but introduces short-term risks from construction disruptions.
Leasing advantages include high visibility to affluent transit users and locals, flexible terms from a major owner, and synergy with residential integration; however, challenges encompass competition from nearby Asian-centric centres like Aberdeen Centre, market saturation in apparel categories, and potential access issues from urban traffic.
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Hours of Operation
Hours
| Monday | 10:00 AM — 09:00 PM |
| Tuesday | 10:00 AM — 09:00 PM |
| Wednesday | 10:00 AM — 09:00 PM |
| Thursday | 10:00 AM — 09:00 PM |
| Friday | 10:00 AM — 09:00 PM |
| Saturday | 10:00 AM — 09:00 PM |
| Sunday | 11:00 AM — 07:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Accessibility and Transportation
CF Richmond Centre benefits from prime accessibility as the endpoint of the Canada Line skytrain, facilitating over 50,000 daily riders and boosting footfall from Vancouver commuters and airport travelers. Proximity to Highway 99 and Vancouver International Airport (5 km away) supports a regional draw, with parking for 3,500 vehicles. However, No. 3 Road congestion during peak hours can impede drive-in traffic, and reliance on transit exposes vulnerability to service disruptions or fare increases, potentially affecting non-local shopper volumes.
Demographic Profile and Market Position
Richmond's 209,000 residents form a diverse, high-income trade area with 74% visible minorities, including large Chinese and South Asian communities, and a median household income of $82,000, exceeding the national average. The surrounding Vancouver CMA of 3.1 million has grown 23% in the last decade, driven by tech professionals and immigrants, supporting premium retail categories. Yet, ethnic-specific preferences favor competitors like Aberdeen Centre for certain goods, and economic sensitivity in tourism-related sectors could pressure discretionary spending amid inflation.
Occupancy, Rents, and Redevelopment Risks
Occupancy hovers at 95%, indicating strong tenant demand and operational stability under Cadillac Fairview management, with inline rents typically $50-80 per square foot base plus 6-8% overage on sales. Redevelopment adds 2 million sq ft of mixed-use space, including 2,000 residential units, promising increased footfall from on-site residents but risking temporary vacancies and disruptions in the south end through 2027. Competition from e-commerce and nearby saturation in fashion may challenge weaker categories, while aging infrastructure in unredeveloped areas requires monitoring for maintenance costs.
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Richmond, BC
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City Snapshot
Richmond, BC
Comprehensive market intelligence for retail expansion in this city
