Company type | Subsidiary |
---|---|
Industry | Real estate |
Founded | 1974 |
Headquarters | 20 Queen Street West 5th Floor Toronto, Ontario M5H 3R4 |
Area served | |
Key people | Salvatore (Sal) Iacono (president and CEO) |
Parent | Ontario Teachers' Pension Plan |
Website | www |
The Cadillac Fairview Corporation Limited, branded as Cadillac Fairview, is a Canadian company that invests in, owns, and manages commercial real estate, mainly in Canada and the United States. As of March 2017, the company had 73 properties, encompassing 50 million square feet, worth over $40 billion. [1] As of September 2017, Cadillac Fairview's portfolio consisted of 60% Canadian retail (mainly major shopping centres) and 26% Canadian office buildings.[ needs update ] [2] Cadillac Fairview is wholly owned by the Ontario Teachers' Pension Plan. [3]
The name "Cadillac Fairview" came into existence in 1974 as a result of the merger between Cadillac Development Corporation Ltd and Fairview Corporation. [4] Cadillac Development Corporation was founded by partners Ephraim Diamond (d. 2008), Joseph Berman (1922–2003), and Jack Kamin in Toronto in 1953 as a developer of high-rise apartment buildings. Fairview Corporation was established in 1958 as the real estate division of Cemp Investments, the holding company of the Bronfman family. Before merging, Cadillac and Fairview had already had strong ties since 1968. [4] Bronfman-held Cemp Investments sold Cadillac Fairview in 1986.[ citation needed ]
The company was purchased by the Ontario Teachers' Pension Plan in March 2000. In 2006, it expanded its operations to Brazil by buying 46 percent of Multiplan Emprendimentos Imobiliarios SA, a Brazilian shopping center manager worth more than $1 billion. [5] In 2012, Cadillac Fairview bought out the leases of Sears Canada in five stores for $400 million, including the lease of the flagship Sears at Toronto Eaton Centre. [6] Many of the former Sears locations, including the one at Eaton Centre, became Nordstrom. [7] In 2014, it purchased the Toronto flagship store of Hudson's Bay Company for $650 million. [8]
On September 21, 2015, Cadillac Fairview rebranded its shopping centre properties, adding the prefix "CF" in front of each shopping centre name and phasing out individual mall logos in favour of a standardized logo format and image campaign. [9] In January 2017, Cadillac Fairview sold a 50% interest in its Vancouver portfolio to the Ontario Pension Board and the Workplace Safety and Insurance Board. [10] Financial terms were not disclosed, but the deal involved 4 million square feet of leasable space in the Pacific Centre and 12 office properties. In September 2017, it announced that it would become a national partner to the Canadian Olympic Committee. [11]
In December 2022, Cadillac Fairview purchased a 25% shareholding in Stanhope plc. [12]
In July 2018, Cadillac Fairview disclosed that it had been employing facial recognition technology via embedded cameras on their mall directory kiosks, which collected anonymized information of the estimated age and gender of customers. The company stated that this information was being used to analyze mall traffic. [13] Following an investigation by CBC News and the announcement of a government probe, Cadillac Fairview suspended the program. [14]
On October 29, 2020, the federal privacy commissioner and his counterparts in Alberta and B.C. released a report detailing Cadillac Fairview's use of anonymous video analytics (AVA) to collect personally-identifiable information from mall visitors without meaningful consent. It found that at 12 properties, the company had used 5 million images from such kiosks to generate biometric representations of visitors' faces. It was also found that the biometric data had unknowingly been compiled into a database by a third-party technology provider "for no apparent purpose and with no justification", which "compounded the risk of potential use by unauthorized parties or, in the case of a data breach, by malicious actors". The report concluded that Cadillac Fairview had complied with their recommendations, with the exception of those "that speculate about hypothetical future uses of similar technology". [14]
Cadillac Fairview defended the program, arguing that the cameras' use were covered by a general privacy notice located on entrance signage (which warned that premises were monitored for safety and security reasons, and referred users to a company privacy policy on the company website), that the images themselves were only stored temporarily for analysis before being deleted, and that they could not individually identify a visitor. [14]
Cadillac Fairview owns, develops, and manages property, malls and large office and retail spaces across the Western Hemisphere, mostly in North America. Cadillac Fairview has also developed suburban housing, such as the Erin Mills "New Town". Among its Canadian assets are five Quebec properties, twenty-five Ontario properties, two Manitoba properties, eight Alberta properties, and fourteen British Columbia properties. [15]
Cadillac Fairview's malls are generally large and high-quality, with high-end stores and high sales per square foot. [16] For instance, sales at the Toronto Eaton Centre, a CF mall, were $1500 per square foot, while lower-end malls have sales closer to $325 per square foot. [16] Cadillac Fairview has actively tried to sell weak malls, reducing its mall count from a high of 40 to around 20 in 2017. [16]
Notable properties managed by Cadillac Fairview, some co-owned with (or managed on behalf of) other investors, are listed below.
Property name | Location | Property type | Year opened |
---|---|---|---|
Carrefour Laval | Laval, Quebec | Shopping centre | 1974 |
Chinook Centre | Calgary, Alberta | Shopping centre | 1960 |
Fairview Mall | Toronto (North York), Ontario | Shopping centre | 1970 |
Fairview Park Mall | Kitchener, Ontario | Shopping centre | 1966 |
Fairview Pointe-Claire | Pointe-Claire, Quebec | Shopping centre | 1965 |
Lime Ridge Mall | Hamilton, Ontario | Shopping centre | 1981 |
Market Mall | Calgary, Alberta | Shopping centre | 1971 |
Markville Shopping Centre | Markham, Ontario | Shopping centre | 1982 |
Masonville Place | London, Ontario | Shopping centre | 1985 |
Pacific Centre | Vancouver, British Columbia | Shopping centre and office towers | 1971 |
Polo Park | Winnipeg, Manitoba | Shopping centre | 1959 |
Promenades St-Bruno | Saint-Bruno-de-Montarville, Quebec | Shopping centre | 1978 |
Richmond Centre | Richmond, British Columbia | Shopping centre | 1964 |
Rideau Centre | Ottawa, Ontario | Shopping centre and office tower | 1983 |
Sherway Gardens | Toronto (Etobicoke), Ontario | Shopping centre | 1971 |
16 York Street | Toronto, Ontario | Office tower | 2019 |
Shops at Don Mills | Toronto, Ontario | Shopping centre | 2009 |
Deloitte Tower | Montreal, Quebec | Office tower | 2015 |
Maple Leaf Square | Toronto, Ontario | Multi-use complex | 2010 |
RBC Centre | Toronto, Ontario | Office tower | 2009 |
Simcoe Place | Toronto, Ontario | Office tower with retail concourse | 1995 |
Toronto-Dominion Centre | Toronto, Ontario | Office complex with retail concourse | 1969 |
Toronto Eaton Centre | Toronto, Ontario | Shopping centre and office towers | 1977 |
Waterfront Station | Vancouver, British Columbia | Transportation facility | 1914 |
Windsor Station | Montreal, Quebec | Office and retail complex; former railway station | 1889 |
This section may require cleanup to meet Wikipedia's quality standards. The specific problem is: section is part table and part list. Can the list be put into table format?(August 2024) |
Property name | Location | Property type | Year opened |
---|---|---|---|
The Bay Centre | Victoria, British Columbia | Shopping centre | 1989 |
Champlain Place | Dieppe, New Brunswick | Shopping centre | 1974 |
Erin Mills Town Centre | Mississauga (Erin Mills), Ontario | Shopping centre | 1989 |
Galeries d'Anjou | Montreal (Anjou), Quebec | Shopping centre | 1968 |
Galeries Chagnon | Lévis, Quebec | Shopping centre | 1974 |
Georgian Mall | Barrie, Ontario | Shopping centre | 1968 |
McAllister Place | Saint John, New Brunswick | Shopping Centre | 1978 |
Place Montréal Trust | Montreal, Quebec | Shopping centre | 1988 |
Promenade Shopping Centre | Thornhill, Ontario | Shopping centre | 1986 |
Regent Mall | Fredericton, New Brunswick | Shopping Center | 1976 |
The Galleria at White Plains | White Plains, New York | Shopping Center | 1980 |
Woodbine Centre | Toronto, (Etobicoke, Rexdale), Ontario | Shopping centre | 1985 |
Hillcrest Mall, Richmond Hill, ON
Eastgate Centre, Stoney Creek, ON
Centre Mall, Hamilton, ON
Midtown Mall, Saskatoon, SK
Cornwall Centre, Regina, SK
Hamilton Eaton Centre (Hamilton City Centre), Hamilton, ON
Parkway Plaza, Scarborough, ON
Fairview Mall, St. Catharines, ON
Cedarbrae Plaza/Mall, Scarborough, ON
Maisoneuve Mall, Montreal, QC
Sarnia Eaton Centre (Bayside Centre), Sarnia, ON
North Hill Shopping Centre, Calgary, AB
Bonnie Doon Shopping Centre, Edmonton, AB
Les Galeries Ste. Anne, Giffard, QC
Gage Square, Hamilton, ON
Rockwood Mall, Mississauga, ON
Domaine Mall, Montreal, QC
Greenfield Park Shopping Centre, Montreal, QC
Montreal Square, Ottawa, ON
Vista Centre, Ottawa, ON
Southland Mall, Regina, SK
Fairview Plaza, Saint John, NB
Thunder Bay Mall, Thunder Bay, ON
York Mills Shopping Centre, Toronto, ON
Parkwoods Village Shopping Centre, Toronto, ON
The Towne Mall, Toronto, ON
Don Valley Plaza, Toronto, ON
University City, Toronto, ON
Millway Shopping Centre, Mississauga, ON
Peanut Plaza, Toronto, ON
North Kipling Plaza, Toronto, ON
CF Toronto Eaton Centre, commonly referred to simply as Eaton Centre, is a shopping mall and office complex in the downtown core of Toronto, Ontario, Canada. It is owned and managed by Cadillac Fairview (CF). It was named after the Eaton's department store chain that once anchored it before the chain went defunct in the late 1990s.
Yorkdale Shopping Centre, Yorkdale Mall, or simply Yorkdale, is a major retail shopping centre in Toronto, Ontario, Canada. Located at the southwest corner of the interchange between Highway 401 and Allen Road, it opened in 1964 as the largest enclosed shopping mall in the world. Yorkdale is currently the third largest shopping mall in Canada by floor space and has the highest sales per unit area of any mall in Canada, with current merchandise sales levels at roughly CA$1,905 per square foot. At 18 million annual visitors, it is one of the country's busiest malls. Many international retailers have ventured the Canadian market initially at Yorkdale.
Carrefour Laval is a superregional shopping mall in Laval, Quebec, Canada. It is located in the Chomedey neighbourhood of the city at the intersection of Laurentian Autoroute (A-15) and Autoroute Jean-Noël-Lavoie (A-440).
Fairview Pointe-Claire is the largest shopping mall in the West Island and one of the biggest on the Island of Montreal. It is located in the city of Pointe-Claire, Quebec, Canada, at the intersection of Trans-Canada Highway and Saint-Jean Boulevard.
Galeries d'Anjou is a shopping mall located in the borough of Anjou in Montreal, Quebec, Canada. Major tenants include Hudson's Bay, Simons, The Brick, Winners, Sports Experts/Atmosphere and Aubainerie. In addition to the main indoor shopping centre, Galeries d'Anjou has several stores around its parking lot including Best Buy and Rona l'Entrepôt.
Fairview Mall is a large shopping centre in Toronto, Ontario, Canada of about 80,000 m2 (860,000 sq ft). Opened in 1970, the centre has over 180 stores, offices and a cinema complex. It is located several kilometres north-east of downtown, at the northeast corner of Don Mills Road and Sheppard Avenue East in the former city of North York.
The Don Mills Centre was a shopping mall in Toronto, Ontario, Canada. It was located on a 44-acre commercial site, at the southwest corner of Don Mills Road and Lawrence Avenue East in Toronto. There were at least 98 stores during the height of the mall's existence. The majority of the mall was closed and demolished in summer 2006 for redevelopment as the Shops at Don Mills.
The Ontario Teachers' Pension Plan Board is an independent organization responsible for administering defined-benefit pensions for school teachers of the Canadian province of Ontario. Ontario Teachers' also invests the plan's pension fund and it is one of the world's largest institutional investors, acting as a partner organization of the World Economic Forum. The plan is a multi-employer pension plan, jointly sponsored by the Government of Ontario and the Ontario Teachers' Federation.
Masonville Place is a two-storey regional shopping mall located in London, Ontario, Canada, at the southeast corner of Fanshawe Park Road and Richmond Street. The mall contains over 130 stores, several restaurants, and a food court. Masonville Place is anchored by several large retailers including Hudson's Bay, Zara, H&M, Sport Chek/Atmosphere, and Shoppers Drug Mart. Cineplex Cinemas has two locations at the shopping mall, the SilverCity / IMAX theatres, and The Rec Room, an adult-centred entertainment facility featuring food, drink, arcade games and axe-throwing.
Sherway Gardens is a large retail shopping mall in Toronto, Ontario, Canada. The mall is located 17 kilometres (11 mi) west of Downtown Toronto, near the interchange of Highway 427 with the Queen Elizabeth Way and Gardiner Expressway.
Eaton Centre is a name associated with shopping centres in Canada, originating with Eaton's, one of Canada's largest department store chains at the time that these malls were developed. Eaton's partnered with development companies throughout the 1970s and 1980s to develop downtown shopping malls in cities across Canada. Each mall contained an Eaton's store, or was in close proximity to an Eaton's store, and typically the mall itself carried the "Eaton Centre" name. These joint ventures were a significant retail development trend in Canada during that period.
The Montreal Eaton Centre is a shopping mall located in the downtown core of Montreal, Quebec, Canada. It is accessible through the Underground City, which is connected to the Montreal Metro's McGill station.
Polo Park is a shopping centre in Winnipeg, Manitoba, Canada. It is situated on the former Polo Park Racetrack near the junction of Portage Avenue and St. James Street. Its grounds also includes a Scotiabank Theatre, a TD Canada Trust, a Party City, and an Earl’s Kitchen + Bar. The mall is currently anchored by Hudson's Bay, Forever 21, Shoppers Drug Mart, Urban Planet, Sport Chek, ZARA, and EQ3. Sears and Zellers formerly anchored the mall.
Pacific Centre is a shopping mall located in Vancouver, British Columbia, Canada. It is owned by Cadillac Fairview, the Ontario Pension Board, and the Workplace Safety and Insurance Board, and is managed by Cadillac Fairview.
Promenades St-Bruno is a two-level shopping mall located in Saint-Bruno-de-Montarville, Quebec, Canada. Ground was broken in the spring of 1977 to build the mall and it was completed in August 1978. Les Promenades St-Bruno is the largest mall in the Montérégie and part of its consumer base come from cities as far as Saint-Hyacinthe and Sorel-Tracy. The anchor tenants are The Bay and Simons.
Lime Ridge Mall is a two-level indoor shopping mall in Hamilton, Ontario, Canada. Opened on September 13, 1981, it is the largest mall complex in the city, an 815,000-square-foot (75,700 m2) super-regional shopping centre with over 213 stores including department stores and big box stores such as Hudson's Bay. Sears closed in 2017. It is located on 999 Upper Wentworth Street.
Promenade, officially Promenade Shopping Centre or Promenade Mall, is a major shopping centre located in Vaughan, Ontario, Canada. The mall has over 150 tenants, and is anchored by T&T Supermarket and Imagine Cinemas.
CF Markville, also known as Markville Shopping Centre in the Cadillac Fairview chain of malls, is a shopping mall of over 140 stores in Markham, Ontario, Canada. It is located at the intersection of Highway 7 East and McCowan Road, and runs along Bullock Drive, located slightly west of McCowan Road. Its anchors are Hudson's Bay, Winners, Walmart Supercentre, Decathlon, Sporting Life, Marshalls, Uniqlo, Best Buy, and a Toys "R" Us/Babies "R" Us combo store. It has a gross leasable area of 981,000 square feet (91,100 m2). It was the largest shopping mall in York Region until 2004 when Vaughan Mills opened.
The Shops at Don Mills is a lifestyle centre-type shopping centre in Toronto, Ontario, Canada, located at Don Mills Road and Lawrence Avenue East in Toronto. There are 72 retail stores with a total floor space of 47,550 square metres. Cadillac Fairview is the owner and manager of the shopping centre.
Cemp Investments was the primary holding company and investment vehicle for, and named after, the four children of Samuel Bronfman: Charles Bronfman, Edgar Bronfman, Aileen "Minda" Bronfman de Gunzburg, and Phyllis Lambert, also known as the Montreal branch of the Bronfman family. Cemp became one of the largest privately owned companies in Canada. At its peak, it controlled tens of billions in dollars of assets in major distilling, commercial real estate development, oil and gas, and entertainment companies across North America.