Brand Fit Snapshot
Best for:
Not ideal if:
Similar properties you might like:
Quick assessment - takes 30 seconds
Promenade Shopping Centre is a 535,307 square foot regional mall located at 1 Promenade Circle in Thornhill, Vaughan, Ontario, approximately 25 km north of Toronto. Opened in the 1980s and acquired by the Serruya family in 2017 from Cadillac Fairview, it features over 150 stores across two levels, with anchors including T&T Supermarket, Imagine Cinemas, GoodLife Fitness, and the recently opened Olive Branch Kosher Supermarket, Canada"s first of its kind.
The tenant mix emphasizes fashion (brands like Roots, Club Monaco, Aritzia, H&M, Old Navy), services (LifeLabs), and a food court with Asian cuisine focus, alongside experiential additions like the upcoming Bowls & Blasters entertainment venue. Occupancy stands at 95%, supported by annual footfall of 4.2 million visitors, with average dwell time of 90 minutes and conversion rate of 25%. Rents average $22 per square foot in the Greater Toronto Area context.
The mall benefits from strong accessibility via Highway 407, Promenade GO Station, and Viva rapid transit, plus 3,500 parking spaces. Surrounding demographics include 364,000 residents within a 10 km radius, with average household income of $125,000 and a diverse population featuring significant Jewish and Asian communities, driving retail spending of $10,500 per capita annually.
Market position is evolving through major mixed-use redevelopment, including Phase 1 with 780 condo units now occupied and direct mall connections completing in early 2025, plus a new Canadian National Institute for Health campus drawing 400 students. This positions Promenade as a community hub in the growing Vaughan area, with population growth at 2.5% annually.
Leasing advantages include access to affluent, ethnically diverse consumers, increasing residential density to boost daily traffic, opportunities in specialty food and health services, and flexible lease terms amid active tenant pipeline. However, challenges include competition from outlet-focused Vaughan Mills and e-commerce saturation, particularly in apparel, alongside potential category overlaps in groceries and fitness.
Operational quality is improving with frequent community events like Persian New Year and Hanukkah celebrations, but risks involve economic sensitivity in discretionary spending and transitional infrastructure upgrades during redevelopment.
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 — 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
Demographic Profile
The primary trade area within 10 km radius serves 364,000 residents with an average household income of $125,000, exceeding the Toronto CMA average. Population growth is 2.5% annually, with a median age of 44 and household size of 2.88. The area features a diverse demographic, including substantial Jewish and Asian communities, influencing preferences for kosher and Asian groceries. Tertiary education levels reach 65%, unemployment is 5.5%, and per capita retail spending totals $10,500 yearly, with $1,200 on apparel, $4,000 on groceries, and $800 on electronics. This supports strong performance in specialty foods, health, and entertainment but requires culturally tailored merchandising to maximize sales in ethnic segments.
Competitive Landscape
Promenade faces medium density competition from nearby centers like Vaughan Mills (1.3 million sq ft outlet mall with high tourist draw), Hillcrest Mall (repositioned mixed-use), and Centerpoint Mall (local serving). E-commerce poses high threat, with 60% click-and-collect adoption and 95% internet penetration eroding apparel sales. Market saturation risks exist in groceries and fitness due to dual anchors (T&T and Olive Branch). However, redevelopment differentiates Promenade as a transit-oriented community hub, contrasting Vaughan Mills" outlet focus, potentially capturing local daily needs traffic while larger rivals draw regional shoppers. York Region retail vacancy is low at under 6%, indicating stable demand but requiring unique experiential offerings to stand out.
Accessibility and Operational Metrics
Excellent accessibility via direct Highway 407 access (2 km), Promenade GO Station (walking distance), and Viva bus rapid transit supports a 70% visitor draw from within 20 minutes. 3,500 parking spaces accommodate medium-high pedestrian traffic, though peaks strain capacity during events. Annual footfall of 4.2 million yields 5% projected growth tied to residential additions. Occupancy at 95% reflects low 4% vacancy, with sales per square meter at $8,000 CAD. Operational quality includes comprehensive security, frequent promotions, and 40% loyalty program penetration, enhancing dwell time of 90 minutes. Challenges include seasonal variations and rising costs during infrastructure transitions, but transit enhancements mitigate access issues in this growing urban node.
Building Details
Detailed Market Analytics
City Snapshot
Vaughan, ON
Comprehensive market intelligence for retail expansion in this city
Other Retail Destinations in Vaughan
Discover more shopping centers in Vaughan.
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
Vaughan, ON
Comprehensive market intelligence for retail expansion in this city
