Winnipeg Retail

[plrh]

The Charleswood Safeway also was a Dominion.

[LilZebra]

Originally Posted by plrh

The Charleswood Safeway also was a Dominion.

That's when it was called Forest Park Mall.

I don't know why they renamed the mall. I like the old name.

[LilZebra]

Originally Posted by cllew

Adding to the list there was a Dominion in one of the strip malls in Southdale.

Yes, in the original part, I can't remember exactly, but probably where the Co-Op is now or next to it.

Not in the Shindico (?) 1990s newer part.

[cllew]

I see in today's Free Press that the leased space that the Center Venture renovated 4 years ago on the second floor at City Place mall is coming up for rent as of Sept 2018.

I am guessing that if its in the paper and on the Triovest web site that CV has given notice that they are not renewing. Anybody have any idea where they are thinking of moving to?

In the FP its not named as the Center Venture site by name in the ad but the description of the space fits and the Tiiovest site does show its that space.

[Biff]

Originally Posted by cllew

I see in today's Free Press that the leased space that the Center Venture renovated 4 years ago on the second floor at City Place mall is coming up for rent as of Sept 2018.

I am guessing that if its in the paper and on the Triovest web site that CV has given notice that they are not renewing. Anybody have any idea where they are thinking of moving to?

In the FP its not named as the Center Venture site by name in the ad but the description of the space fits and the Tiiovest site does show its that space.

Hopefully to another space on the 1st or 2nd floor of CitiPlace...that way they can do the same type of renovation and put some more windows in. I love the windows they installed for their current offices and think it is a huge improvement over the 2 storey stucco squares on the 1st and 2nd floors of the building.

[bomberjet]

Financially prudent CentreVenture. Renovating office (mall) units and moving 4 years later. Great job.

that was sarcasm

[esquire]

Originally Posted by bomberjet

Financially prudent CentreVenture. Renovating office (mall) units and moving 4 years later. Great job.

that was sarcasm

Why does Centreventure keep bouncing around like that? They were in Cityplace for such a short period... as I recall, they were in their Main Street offices for a similar length of time, maybe it was even shorter. I don't remember where they were before that.

[The Unknown Poster]

Reminiscing about Dominion, there was also one in the strip mall on Pembina where Toys R Us is now (Best Buy, Shapes etc). It faced the opposite way, towards Bishop.

As a kid, I was fascinated by it because they'd send your groceries out on a conveyor belt for pick up. lol

When it closed it became Arizona Fitness. And eventually a mini golf course.

[buzzg]

CentreVenture's job is to spur development and growth downtown, so if that means going into generally unwanted spaces for a few years and fixing them up, making them more attractive to new tenants, I think that's great. Granted with cityplace they may have found someone regardless eventually – but who knows, CV brought a lot of attention there the last few years, helped with TNS, and now cityplace is doing quite well.

I'm sure they'd only be moving if someone wanted the space, and hopefully they move into another space that's been vacant or under-utilized for a while and rejuvenate it. Lots of qualified spots downtown. They've always been located on the places they focus on, and likely will again. Whether that means their main focus shifts to Portage (Warehouse One or Portage Place) or Graham (several vacancies at west end) remains to be seen, but I see this as a good thing. Who knows, maybe cityplace will start to open up the main floor?

Maybe TV can add to this

[bomberjet]

I'd be interested to know how much they spent reno'ing the current space, then they'll be reno'ing the new space. Millions of dollars for sure.

And I wouldn't say City Place is doing well. The mall is pretty much useless. The food court and skywalk are the only thing keeping people in there. Cept for the Shark Club of course.

[esquire]

^ People (Tom Brodbeck especially) seem to forget that Cityplace is an office building first, mall second. I'd estimate that no more than 10% of the building's space is retail. The building is doing fine even if the mall has declined the way that all mainstream downtown retail has since Eaton's went kaput.

That said, if Centreventure wants to set up in a neglected part of downtown, it should go somewhere north of City Hall.

[buzzg]

Originally Posted by bomberjet

I'd be interested to know how much they spent reno'ing the current space, then they'll be reno'ing the new space. Millions of dollars for sure.

And I wouldn't say City Place is doing well. The mall is pretty much useless. The food court and skywalk are the only thing keeping people in there. Cept for the Shark Club of course.

There's very few vacancies. Just because it's not full of sexy international clothing stores doesn't mean it's not doing well. If someone wants to do some digging you could probably find out how much money it makes since MPI owns it, meaning all the profits go back to us. How nice.

[bomberjet]

All true.

[CoryB]

Originally Posted by buzzg

If someone wants to do some digging you could probably find out how much money it makes since MPI owns it, meaning all the profits go back to us. How nice.

My favourite has to be the transfer of funds from Hydro to MPI regarding the employee parking in CityPlace.

[cllew]

I would not be surprised that the monthly parking in the 3 lots brings in more money than the rent from the retail or small amount of non MPI offices in the tower (2 Fed Govt offices and the Winnipeg 311 call center).

The rest of City Place office tower is MPI office space, and I don't think they would be charging them selves rent there anymore than they would charge themselves rent in their claims center buildings.

Looking at the annual report I don't see a line item for City Place rental income but I may be not using the right search terms.

https://www.mpi.mb.ca/en/PDFs/2016-Annual-Report.pdf

[buzzg]

^Exactly, cityplace actually makes a ton of business sense and works well for the public.

Not sure how many spots are in its parkades/lots, but the Portage Place parkade makes $5 million a year for FNP, and the *EDIT: monthly* parkade rates are fairly comparable. PP is actually significantly cheaper than CP if you just want daytime access.

[esquire]

Originally Posted by buzzg

^Exactly, cityplace actually makes a ton of business sense and works well for the public.

Not sure how many spots are in its parkades/lots, but the Portage Place parkade makes $5 million a year for FNP, and the parkade rates are fairly comparable. PP is actually significantly cheaper than CP if you just want daytime access.

Actually PP is $12 for casual daily while Cityplace is under $10, either $9 or $9.50 (I just parked there earlier this month). The challenge at Cityplace is finding a spot since it fills up with a lot of monthly parkers.

[buzzg]

Originally Posted by esquire

Actually PP is $12 for casual daily while Cityplace is under $10, either $9 or $9.50 (I just parked there earlier this month). The challenge at Cityplace is finding a spot since it fills up with a lot of monthly parkers.

I was referring to monthly rates, my bad – thought I mentioned that. Monthly parkers account for the bulk of revenue.

[SpongeG]

did they ever have woodwards in manitoba? i don't know how far east it went, perhaps it stopped after alberta.

[cllew]

Woodward's was only located in BC and Alberta before selling out to The Bay.