Plaza Retail is a leading owner, developer and manager of retail real estate properties in Canada. It has total assets worth $1 billion comprising of 275 properties representing 8.4 million square feet area.
The occupancy rate of these properties is high at more than 96%. Plaza derives more than 30% of its revenue from the pharmacy and medical properties, and 60% from Ontario and Quebec. Over 90% of its total rental income is from national retailers focusing on the consumer staples market segment which is more resilient to volatile market conditions.
Most of Plaza’s national tenants are on long-term leases which results in stable cash flows. Over the years, Plaza REIT has developed solid in-house development expertise and strong relationships with leading retailers. Plaza’s top ten tenants by revenue are Shoppers Drug Mart, KFC, Dollarama, Canadian Tire Group, Sobeys Group, TJX Group, Staples, Bulk Barn, Tim Hortons, and Rexall Pharma Plus.