REITs eye Canada's retail potential

05/10/2013 | Wall Street Journal, The

RioCan REIT and Tanger Factory Outlets plan to break ground on projects near Ottawa and near Toronto. They are planning a number of projects across Canada. Other REITs, such as Simon Property, are also eyeing the market. "There is less retail per capita in Canada than in the States, and if a developer is fortunate enough to be able to get all the permits and start construction, the productivity on a per-square-foot basis is usually higher in Canada than in the States," said Steve Tanger, president and chief executive of Tanger.

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