The Core Photo Gallery

The CORE draws a diverse urban demographic, primarily young professionals and office workers aged 25-44 with median household incomes exceeding $100,000, drawn from Calgarys energy, finance, and tech sectors. Annual footfall reaches 13 million, bolstered by 250,000 weekly pedestrians via the +15 skywalk and CTrain proximity, which accounts for 40% of downtown traffic. This supports consistent dwell time and conversion rates for fashion and lifestyle retailers. However, footfall fluctuates with office occupancy at 73% in downtown, impacted by remote work trends, potentially reducing weekday peaks by 15-20% compared to pre-2020 levels. Market reports indicate resilient visitor growth tied to population influx of 52,000 in 2025, enhancing long-term potential despite seasonal dips in winter months.

The tenant mix balances upscale fashion (40% of space) with services (20%), dining (15%), and youth brands (15%), anchored by Simons and Harry Rosen to drive traffic. Over 120 tenants include Aritzia for womenswear and Best Buy Express for tech, creating synergies for cross-shopping. Occupancy at 88% reflects strong demand in a market with 3.8% citywide vacancy. Competition arises from suburban malls like Chinook Centre (1.2 million sq ft, family-focused) and Southcentre, which capture 60% of regional retail sales due to better parking and entertainment. The COREs urban edge suits premium positioning but faces saturation in fashion categories, with 25% of similar downtown spaces competing for affluent spenders amid economic sensitivity to oil volatility.

Leasing at The CORE offers net rates of $45-65 PSF for inline spaces, with minimum sales thresholds around $800 PSF and percentage rent at 7-10% over base. Terms typically span 5-10 years, including TI allowances up to $50 PSF for qualifying tenants and options for renewals with capped escalations at 3% annually. Advantages include high visibility co-tenancy protections with anchors. Risks involve market saturation in downtown retail, where high office vacancy (27%) dampens spending, and access issues like limited dedicated parking forcing reliance on paid nearby options at $20-30/day. Aging infrastructure from 1980s construction poses maintenance costs, while broader challenges include competitive suburban rents 20% lower and potential footfall erosion from e-commerce growth, necessitating adaptive merchandising strategies.