Quote:
Originally Posted by Djeffery
How is the vacancy at Champlain? CF has a mall here in London and I am constantly amazed at how they manage to fill space when something leaves. This mall had a Target and a Sears and redeveloped and filled the space in a very short time. Now they are going to have to deal with a large 2 level Forever 21 store, but I have no doubt they will have it filled within months, if they don't already have somebody lined up.
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CF Champlain has an occupancy exceeding 95%. There used to be a waiting list of stores wanting into Champlain Place and, while this is no longer true since the retail apocalypse, as a general rule storefronts don't remain empty for long. We lost a Sears two years ago too, but it was replaced with a TD Bank corporate banking centre. At full roll out (next year I believe), there will be 1,100 well paid banking employees in the centre. I want to stress this is not simply a call centre. Half the employees will be CPAs, and the centre is responsible for corporate accounting services for North America. This pool of "captive" employees within the mall has resulted in a stable customer base for mall based retailers, and especially the food court and coffee shops.
Otherwise, anchors include Sobeys, WalMart, H&M, Toys R Us, Sports Chek, Urban Planet, Bass Pro Shops, Cineplex and Chapters. Higher end retailers include Roots, lululemon, Pandora, Fossil, Victoria's Secret, Swarovski, Sephora, Ernest, Eddie Bauer, Jump+ etc.
The mall continues to do well. All three big NB cities have one main mall. CF Champlain here in Moncton/Dieppe, Regent in Fredericton and McAllister Place in Saint John.