Quaker Bridge Mall has a lot going for it, but its real estate prices are going up.
The mall’s property values are up about 1.8 per cent this year, according to real estate research firm Trulia.
That compares to a 1.6 per cent increase in 2015.
“We see a real estate market that’s a bit different from last year’s,” said Mark Lutz, chief executive officer of Trulia, which has surveyed mall owners since the late 1990s.
“It’s more of a mixed bag of factors, including the fact that we’re seeing some of our most expensive properties close and some of the more moderate ones get pushed out.”
Mall owners are facing a lot of pressure, particularly in the west end.
A new shopping centre is scheduled to open there next year.
Quaker Bridge has also seen a surge in traffic, as many of its shoppers are heading to the city for a job fair and other events.
But the mall is not the only mall to see an uptick in rents, with Quaker’s two-level shopping centre and its adjacent Quaker Market facing similar rents.
A spokesman for Quakerbridge declined to comment.