The nearly $100-million investment in Masonville Place mall seems to be paying off.

The north London retail giant cracked a top list of sales for shopping centres across Canada, said a recent Retail Council of Canada report.

“We are thrilled to see Masonville in the upper echelon of top-performing malls in Canada, we put a lot of work into getting things right, we’re pleased to see London consumers embracing that,” said Finley McEwen, senior vice-president development for mall owner Cadillac Fairview.

In 2017, the mall posted average sales per square foot of $933, a jump from $855 in 2016, placing it 13th on the list of Canada’s top-performing malls.

That comes on the heels of the shopping centre recently completing a $77-million renovation and redesign, attracting new tenants.

“We made a number of changes to bring it up to standards, London is a good market,” said McEwen.

“It is essential to keep up-to-date if you want to remain a productive mall.”

The only other mall in Southwestern Ontario to place high on the list was Conestoga Centre in Waterloo, finishing 15th with sales of $919 a square foot. Lime Ridge in Hamilton was 29th spot, with $749 per sq. ft.

The top performing mall was Yorkdale Shopping Centre in Toronto, with sales of $1,653 a square foot.

Masonville will finish an exterior ­upgrade this summer, with landscaping, sidewalk work and new asphalt, added McEwen.

This summer also should see the opening of The Rec Room, part of an additional $28-million renovation to the second floor of the former Target store, turning it into an entertainment and gaming centre, a new draw for the mall to attract customers.

Masonville’s performance is part of sales growth in the region, with the retail sector in Southwestern Ontario enjoying a five per cent increase in sales, last year over 2016, said Diane Brisebois, chief executive, Retail Council of Canada.

“That is at the high end of the national average, (Masonville is) performing well because they continue to see capital investments to provide new services and amenities and new anchor tenants who create experiential customer service — thus attracting new customers,” she said. “We expect continued sales growth in the region.”

But the question lingers what the success of Masonville means to other shopping centres, said Michael Pearce, business professor, Richard Ivey School of Business

“Masonville has stayed at least a step ahead of other malls in London, so it is not surprising to see the results,” said.

“But how many retail jobs have been lost, taxes reduced and stores vacated?” he said. “In the end, there is only so much shopping we do and only so many stores we need.”

In other news, recreational retailer SAIL will anchor the proposed PenEquity development south of Highway 401, just west of Wellington Road.

ndebono@postmedia.com

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