Brand Fit Snapshot
Best for:
Not ideal if:
Similar properties you might like:
Quick assessment - takes 30 seconds
Lougheed Town Centre in Burnaby, British Columbia, spans 615,000 square feet and opened in 1969 as a key regional shopping destination. It hosts over 160 tenants, featuring anchors such as Save-On-Foods and London Drugs, alongside a mix of fashion retailers like Aritzia and Urban Planet, dining outlets, and essential services. The property is central to Burnabys Lougheed Town Centre, a designated urban hub with excellent transit connectivity via the Lougheed Town Centre SkyTrain station on the Expo and Millennium Lines, plus extensive bus routes serving the Tri-Cities, New Westminster, and beyond.
This supports substantial footfall, estimated at 8-10 million visitors annually, driven by commuters and local residents. Currently owned and redeveloped by Shape Properties, the mall is transforming into The City of Lougheed, a mixed-use development incorporating 23 residential towers, over 10,000 housing units (including market, rental, and affordable options), 1.5 million square feet of new commercial space, and 300 additional shops and restaurants across six phases.
This evolution positions it as a vibrant live-work-play community, enhancing long-term leasing appeal.
Market position: Second-largest mall in Burnaby after Metrotown, with occupancy rates around 92-95 percent, though the recent closure of Hudson Bay in December 2023 has created transitional vacancies. Average asking rents range from $40 to $60 per square foot, competitive within Metro Vancouver suburban retail, where regional averages hover at $45 psf. Surrounding demographics feature a diverse population exceeding 250,000 in Burnaby, median household income of approximately $78,000, and a median age of 38, including growing numbers of young professionals and families from Asian and multicultural backgrounds.
Leasing advantages include prime transit access reducing reliance on parking, an expanding residential catchment boosting daily traffic, and opportunities for integrated retail-residential synergies. Drawbacks encompass construction disruptions potentially impacting short-term operations, heightened competition from nearby redeveloping centers like The Amazing Brentwood and Metropolis at Metrotown, and risks of market saturation in fashion and dining categories amid broader e-commerce pressures and economic slowdowns noted in 2025 commercial reports.
Interested in this property?
Choose how you'd like to proceed
Advertise at this property?
Reach high-intent shoppers across digital screens, atria, and experiential placements.
Hours of Operation
Hours
| Monday | 10:00 AM — 07:00 PM |
| Tuesday | 10:00 AM — 07:00 PM |
| Wednesday | 10:00 AM — 07:00 PM |
| Thursday | 10:00 AM — 07:00 PM |
| Friday | 10:00 AM — 07:00 PM |
| Saturday | 10:00 AM — 07:00 PM |
| Sunday | 11:00 AM — 06:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Accessibility
The Lougheed area draws from Burnabys population of over 250,000, with rapid growth projected to add 20,000 residents from ongoing developments. Key demographics include a median household income of $78,000, median age of 38, and high diversity with over 50 percent visible minorities, particularly South Asian and East Asian communities. Accessibility is a strength, with direct SkyTrain connectivity generating 50,000 daily boardings at the adjacent station, translating to reliable footfall from commuters across Metro Vancouver. However, vehicle access via Lougheed Highway can face congestion during peak hours, and parking capacity of 3,500 stalls may strain on weekends, per local traffic studies.
Tenant Mix and Occupancy
Tenant mix emphasizes essentials with grocery anchors, mid-range fashion, and casual dining, achieving solid performance in food and beverage categories that account for 25 percent of space. Post-redevelopment, the addition of upscale brands like H and M and Sephora is anticipated, diversifying appeal. Current occupancy stands at 92-95 percent, supported by strong retention in stable categories, but redevelopment phasing has led to 5-8 percent vacancy from tenant relocations and the Hudson Bay exit. Operational quality remains high with recent food court upgrades, though aging infrastructure in legacy sections poses maintenance costs estimated at $2-3 million annually in property reports.
Lease Terms and Market Risks
Base rents average $45-55 psf net, with additional common area maintenance fees of $10-12 psf and potential percentage rent on gross sales exceeding thresholds. Lease terms typically span 5-10 years, offering build-out allowances up to $100 psf for qualified tenants and options for renewal in the expanding City of Lougheed footprint. Risks include delays in redevelopment phases due to 2025 market softness, increasing competition from 3 million square feet of new retail nearby, and saturation in apparel sectors where regional sales growth lagged at 2 percent year-over-year. Economic factors like inflation and reduced consumer spending could pressure performance, advising caution for non-essential retail categories.
Building Details
Detailed Market Analytics
City Snapshot
Burnaby, BC
Comprehensive market intelligence for retail expansion in this city
Other Retail Destinations in Burnaby
Discover more shopping centers in Burnaby.
Popular in Canada
Top retail destinations across Canada.
Interested in this property?
Choose how you'd like to proceed
Advertise at this property?
Reach high-intent shoppers across digital screens, atria, and experiential placements.
City Snapshot
Burnaby, BC
Comprehensive market intelligence for retail expansion in this city
