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Noranda Shopping Centre is a mid-sized neighborhood retail property situated in Kingston, Ontario, approximately 4 kilometers from the city center along Princess Street. Developed in 1990 and renovated in 2015, the centre covers 25,000 square meters with 30 specialty stores anchored by a major grocery retailer and a national pharmacy chain. The tenant mix emphasizes convenience-oriented categories, including 40% food and grocery, 25% health and personal care, 20% apparel and accessories, and 15% services like banking and dry cleaning.
It serves a primary trade area of 45,000 residents within a 5-kilometer radius, characterized by middle-income households with an average annual income of CAD 75,000 and a median age of 38 years. Occupancy stands at 92% as of late 2025, supported by stable footfall of approximately 1.8 million visitors annually, driven by local traffic rather than tourism.
Rent levels average CAD 28 per square foot on a net basis, with common area maintenance fees around CAD 12 per square foot.
Accessibility is facilitated by proximity to Highway 401 and public transit routes, offering 800 free parking spaces. The centres market position is solid within Kingstons suburban retail landscape, benefiting from low vacancy in the region and growing residential development nearby.
Leasing advantages include flexible terms for smaller retailers, turnkey spaces, and marketing support from the property manager. However, challenges include moderate sales productivity at CAD 450 per square foot annually, influenced by competition from larger enclosed malls and e-commerce penetration.
Operational quality is average, with recent upgrades to HVAC systems but some aging facade elements requiring future capital investment.
Overall, it suits retailers targeting everyday needs in a community-focused environment, though saturation in grocery categories may limit expansion opportunities.
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Hours of Operation
Hours
| Monday | 08:00 AM — 09:00 PM |
| Tuesday | 08:00 AM — 09:00 PM |
| Wednesday | 08:00 AM — 09:00 PM |
| Thursday | 08:00 AM — 09:00 PM |
| Friday | 08:00 AM — 09:00 PM |
| Saturday | 08:00 AM — 05:00 PM |
| Sunday | 11:00 AM — 05:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
The primary catchment area features a diverse suburban population of 45,000 within 5 km, including 30% families with children under 18 and 25% seniors, with household incomes ranging from CAD 50,000 to 100,000. Annual footfall averages 1.8 million, peaking during weekends and holidays, supported by adjacent residential neighborhoods and a nearby community college drawing 5,000 students. Traffic counts on Princess Street exceed 20,000 vehicles daily, contributing to consistent local visitation, though seasonal dips occur in winter due to weather. Data from local market reports indicate steady growth in household formation, enhancing long-term potential, but reliance on drive-in traffic exposes it to fuel price fluctuations and remote work trends reducing midday visits.
Competition and Risks
Noranda faces moderate competition from the dominant Cataraqui Town Centre 6 km away, which boasts higher footfall of 7 million and premium national tenants, potentially drawing comparison shoppers. Local strip centers along Division Street add pressure in the convenience segment, with overall retail saturation in Kingston at 85% occupancy citywide. Risks include economic sensitivity in a university town, where student spending varies with enrollment cycles, and potential infrastructure strain from aging roads impacting accessibility. Market reports highlight a 5% decline in physical retail sales regionally since 2020 due to online shifts, advising diversification into experiential retail to mitigate vacancy risks exceeding 10% in weaker categories like apparel.
Lease Terms and Operational Quality
Base rents range from CAD 25-35 per square foot net, with escalations tied to CPI averaging 2-3% annually, and incentives like 6 months free rent for qualifying tenants over 1,000 sq ft. Lease terms typically span 5-10 years, with renewal options and percentage rent clauses at 7% of sales above breakpoints. The property maintains good operational standards, with 24/7 security, energy-efficient lighting retrofits in 2022, and a tenant handbook outlining maintenance protocols. However, some units show wear from high-traffic use, and parking lot resurfacing is planned for 2027, potentially disrupting short-term operations. Commercial real estate insights note the centres manager responsiveness as above average, aiding quick issue resolution, but higher CAM fees compared to peers could impact smaller lessees profitability.
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Kingston, ON
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Interested in this property?
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City Snapshot
Kingston, ON
Comprehensive market intelligence for retail expansion in this city