Galeries De La Capitale Adding Retail Tenants

Why It Matters

The expanded tenant mix strengthens Galeries de la Capitale’s position as Quebec City’s premier super‑regional mall, driving higher foot traffic and revenue while illustrating Primaris REIT’s growth‑focused redevelopment model.

Key Takeaways

• Winners opens 36,000 sq ft, boosting fashion anchor mix.
• Lululemon adds 3,750 sq ft, enhancing athletic‑apparel offering.
• Les Ailes de la Mode to occupy 50,000 sq ft later 2026.
• March Break events aim to increase visitor traffic.
• Primaris targets $175‑$225 M redevelopments of former anchors.

Pulse Analysis

Galeries de la Capitale has long been a cornerstone of Quebec City’s retail ecosystem, drawing nearly ten million visitors each year across its 1.3 million sq ft of floor space. The centre’s ability to attract national and specialty brands reflects a broader shift toward experience‑driven shopping, where a diversified tenant roster mitigates the volatility that has plagued many Canadian malls. By layering fashion, beauty, quick‑service dining and entertainment under one roof, the property leverages cross‑category synergies that keep shoppers inside longer and increase average spend.

The latest lease wave—Winners, lululemon, Kiokii, Lovisa, Chaudron Bavard, Beau et Bon, Boustan and the forthcoming Les Ailes de la Mode—adds roughly 140,000 sq ft of new retail space. These brands target distinct consumer segments, from value‑focused apparel shoppers to affluent athleisure enthusiasts, thereby widening the mall’s demographic appeal. Early indicators suggest that the March Break activation program will translate the new openings into immediate foot‑traffic spikes, reinforcing the centre’s $859 per‑square‑foot sales productivity that already outperforms many regional competitors.

For Primaris REIT, the Galeries de la Capitale expansion dovetails with a portfolio‑wide push to repurpose legacy anchor footprints. The REIT has earmarked up to $225 million for redeveloping former department‑store sites into multi‑tenant formats, a strategy that promises higher rental yields and greater resilience. Enhanced accessibility from the upcoming Quebec City Tramway and the mall’s role as a major bus hub further amplify its long‑term intensification potential, positioning the asset as a growth engine for shareholders.