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Skyline Retail REIT: 2022 Year in Review

A recap of Skyline Retail REIT’s major transactions and news in 2022, and President Gordon Driedger’s industry outlook for the next year.

Skyline Retail REIT, a Guelph, Ontario-based Real Estate Investment Trust (REIT) focused on essentials-anchored retail assets, is celebrating its successes throughout 2022 and is looking forward to further growth in the new year.

In 2022, the REIT acquired approximately $306.3 million in acquisitions, totalling nearly 800,000 square feet of retail space. Skyline Retail REIT currently comprises 118 properties in 71 communities in five provinces across Canada, with a total of 5,454,993 square feet of retail space.1

Key accomplishments for Skyline Retail REIT in 2022

Skyline Retail REIT shared in the overall successes of the retail industry in 2022. This past year, the REIT acquired 8 new properties in multiple communities and provinces:

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A series of photos and descriptions detailing Skyline Retail REIT’s transactions in 2022.

In keeping with the REIT’s acquisition strategy, properties are primarily anchored by national, name-brand tenants offering “everyday essential” products and services. The REIT’s essentials-based retail strategy has proven to be strong and stable not only during the past few years, but since the REIT’s inception in 2013. The REIT also added high-quality income to several of its shopping centers including:

  • Two additional retail units, totaling approximately 13,200 square feet, to an existing property in Elmira, Ontario
  • The Rexall unit is equipped with a rooftop solar system that will provide up to 50% of the location’s energy needs
  • An 1,861 square-foot A&W restaurant in Gravenhurst, Ontario
  • An additional 5,000 square-foot retail pad in Hanover, Ontario, housing barBURRITO, Tokyo Smoke, and Popeyes
  • A new pad development in Longueuil, Quebec, which now accommodates an SAQ liquor store (Quebec’s premier liquor retailer) and a Premiere Moisson Bakery by Metro.

“In addition to 2022 being an exceptional year in terms of growth and leasing, the REIT also enjoyed the success that the completion of these developments has brought to the portfolio,” said Gordon Driedger, President, Skyline Retail REIT.

“They are a great way for us to continue to add value to our existing assets and accommodate new tenants.”

Outlook for 2023

In a PWC 2022 Canadian Consumer Insight Survey, neighborhood/community shopping centers are ranked as the top investment recommendation among subsectors for 2023, with a rising focus on “everyday essentials-based” retail assets such as those which make up much of the Skyline Retail REIT portfolio.2 CBRE reports that markets across Canada are seeing increased activity and demand levels, with food & beverage (F&B), grocery, and personal service tenants among the most active.3

Driedger expects rents to continue to trend upward as sales, foot traffic, and occupancy rates increase, even despite the current economic environment.

“We expect consumers will continue to turn to discount retailers such as dollar stores for more affordable goods,” he said.

“As of September 2022, nearly 5% of Skyline Retail REIT’s portfolio is comprised of dollar and discount stores.”

For Skyline Retail REIT in particular, the outlook for 2023 is positive.

“Our long-term strategy of acquiring ‘everyday essential’ anchored retail properties with quality tenants has stood tried and true, and we will continue this trusted strategy into 2023,” Driedger said.

“We will continue to vet all opportunities to ensure assets we acquire are premium quality, optimally located, and able to sustain high-quality tenants over the long term.”

Skyline Retail REIT is currently open for investment. Visit to learn more about Skyline Retail REIT and contact an Advisor.

Skyline Retail REIT is now on Fundserv (Code: SKY2013). For more information, please contact or visit for more details.

1 As of January 13, 2023.
2 Retrieved December 22, 2022, from PWC Emerging Trends in Real Estate 2023
3 Canada retail rent survey H1 2022. CBRE Canada. (n.d.). Retrieved December 22, 2022, from CBRE Canada Retail Rent Survey H1 2022.

About Skyline Retail REIT

Skyline Retail REIT (the “REIT”) is a privately owned and managed portfolio of retail properties, focused on acquiring well-located properties with service-oriented, national brand tenants in secondary and tertiary communities across Canada.

Skyline Retail REIT is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth Management”), the preferred Exempt Market Dealer for the REIT.

Skyline Retail REIT is committed to providing outstanding places to conduct business and services. It prioritises superior service to its retail tenants while surfacing value with a goal to deliver stable returns to its investors.

To learn more about Skyline Retail REIT, please visit

To learn about additional alternative investment products offered through Skyline Wealth Management, please visit

Skyline Retail REIT is operated and managed by Skyline Group of Companies.

For media inquiries, please contact:

Bethany Curtis
Manager, Content Marketing and Communications
Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
519.826.0439 x231