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Cloverdale Mall, located at 250 The East Mall in Etobicoke, Toronto, is a 435,000 square foot enclosed shopping centre operational since 1956 on a 32-acre site. It currently houses over 90 stores and services, focusing on everyday essentials with tenants including grocery stores, pharmacies, apparel, and local services, but lacks major anchor retailers. The property is undergoing a major redevelopment by QuadReal Property Group into a mixed-use urban community, including 5,270 residential units across 10 towers (17-48 storeys), mid-rise buildings, community amenities, and retained retail spaces totaling around 2,000 square metres.
Phase One, in partnership with Mattamy Homes, involves a 32-storey condominium with 500+ units and 2,400 square feet of ground-level retail, currently in pre-construction.
Market position reflects transition from a declining suburban mall to a vibrant neighbourhood hub, benefiting from proximity to Kipling TTC subway station (two lines) and GO rail, plus Highway 427 and Gardiner Expressway access. However, competition from nearby Sherway Gardens and Humbertown Centre poses challenges. Current occupancy is estimated at 80-85% based on regional retail trends, with footfall impacted by redevelopment uncertainty and an aging infrastructure.
Rent levels for small retail spaces range from CAD 30-50 per square foot annually, net, influenced by GTA average retail vacancy of 1.7% in 2025 reports.
Leasing advantages include flexible terms during transition, potential for integrated residential foot traffic post-redevelopment, and demographic support from a diverse Etobicoke population of over 200,000 within 5 km, with median household income around CAD 75,000 and high immigrant representation driving demand for convenience retail. Drawbacks encompass construction disruptions, market saturation in big-box categories, and risks from economic pressures on consumer spending in outer suburbs.
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Hours of Operation
Hours
| Monday | 10:00 AM — 08:00 PM |
| Tuesday | 10:00 AM — 08:00 PM |
| Wednesday | 10:00 AM — 08:00 PM |
| Thursday | 10:00 AM — 08:00 PM |
| Friday | 10:00 AM — 08:00 PM |
| Saturday | 10:00 AM — 06:00 PM |
| Sunday | 11:00 AM — 06:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics
The surrounding Etobicoke area features a population of approximately 200,000 within a 5 km radius, characterized by a diverse demographic profile with over 50% visible minorities, including significant South Asian, Filipino, and Black communities. Median household income stands at CAD 75,000, slightly below Toronto average, supporting mid-tier retail. Age distribution includes 25% under 20 and 20% over 65, indicating family-oriented and senior-focused shopping needs. High public transit usage (40% of commuters) enhances accessibility for non-car owners, but lower disposable income may limit luxury retail performance compared to downtown markets.
Competition
Cloverdale faces stiff competition from established centres like Sherway Gardens (1.2 million sq ft, 95% occupancy, anchored by Holt Renfrew and major chains) and Humbertown Shopping Centre, both within 5 km, drawing higher footfall with premium tenant mixes. Regional saturation in grocery and apparel categories, coupled with e-commerce growth, has reduced Cloverdales capture rate to under 60% of local trade area spending per 2025 retail reports. Redevelopment aims to differentiate via community integration, but short-term vacancy risks persist amid broader GTA retail consolidation trends.
Lease Terms
Current lease structures offer net terms with rents of CAD 30-50 per square foot for spaces under 5,000 sq ft, including common area maintenance fees of CAD 10-15 per sq ft. Incentives during redevelopment include rent abatements up to 20% for initial years and flexible subleasing options. Post-redevelopment, ground-floor retail in residential podiums may command CAD 50-70 per sq ft due to built-in residential traffic, but tenants face escalation clauses tied to CPI (3-5% annually). Operational quality varies with ongoing maintenance, and risks include temporary closures during Phase One construction, potentially delaying openings by 12-18 months.
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Toronto, ON
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Toronto, ON
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