CF Pacific Centre Developments

[phesto]

Didn't think it would happen, but money talks, and Cadillac paid a very big number not to play a longer waiting game with Sears. Store closes Oct 31.

http://www.vancouversun.com/business/Sears+Canada+closing+Pacific+Centre+store+this+year/6240477/story.html

[cc85]

This is the biggest rumour to ever come true! hahah

http://www.theglobeandmail.com/globe-investor/sears-to-close-three-stores-in-top-markets/article2356330/

[connect2source]

This will be transformational for downtown Vancouver to say the least, we've had to deal with this filthy eyesore of a building for years now while Sears profits eroded and their loyalty and respect, locally, decayed. Here's to a wonderful new life for this building and a revitalization for the Robson and Granville area!

[sacrifice333]

Does that site have height restrictions since it's along Robson?

Wonder if CF will go for the short-term gain -- new tenant. Or long-term profit -- build to suit WITH residential or office component?!

I don't know of any possible tenant that could make a go of the entire space and I don't know how you'd really chop it up without hurting the potential tenants... unless you cut it up vertically and gave at least two tenants access to most floors.

[twoNeurons]

Before you all get carried away, my guess is that they'll lease out the store to a US department store, rather than tear down the buildling.
If it's going to be another department store, I'd love to see something styled like this Daimaru in Kobe:
http://farm8.staticflickr.com/7150/6640309149_00e6ae22ee_z.jpg
source (http://flic.kr/p/b7MjyM)

Of course, the Japanese department store concept, with a food floor on the bottom, would be really nice. Just not sure if it would fly here.

[wrenegade]

This is excellent news. I'm sure we'd all love to see it torn down, but I doubt that will happen right away. My money is on a Nordstorms. I'd love to be proven wrong though, and see a wrecking ball show up Nov 1st.

[TwoFace]

I guess I'm in the minority here, but for me and many others this is not a very positive thing for the Downtown retail consumer.
Sears has always proved to be very affordable with a great selection of product.
When the "new" department store comes up from the States I foresee that it will be more in-line with The Bay's pricing.
Another "overpriced" alternative for most.

[mezzanine]

^ one thing about sears is that I could always find a vaccum cleaner part/filter there. They also had a watch/clock repair service that was handy for a watch i had that took unusual batteries not found at london drugs.

however, Overall this is a good thing, especially if they build a new structure at the sears site.

I'm not a retail analyst, but I am pessimistic about nordstrom's moving in. I don't think they can lease out all the space - i'm sure who really could of any retailer, at the rates CF are going to ask for. i'm thinking a redevelopment - they can even re-do/build over the vancouver city centre station entrance.

[Valley_Refugee]

The Bay is not overpriced, it's gone more upmarket. If a consumer wants value brands (and the quality level that comes with them), then there are Wal-Mart and Zellers/Target. I think it's a great thing for downtown. The Bay is slightly upmarket, Nordstrom moreso, and Holt Renfrew at the top.

[phesto]

The preliminary concept plans from Cadillac Fairview posted on here 6 or 7 years ago showed a new or renovated retail podium with office and residential above. Maybe someone can shed some light on if this is still in the works?

[memememe76]

You can get some great deals at The Bay.

And I like Sears. Although, yes, the building itself is bad. But I like the store.

[Prometheus]

I have always maintained that if the Vancouver Art Gallery had to move, then this site would be the ideal, most culturally-relevant location for a stunning, iconic, starchitect-built new Gallery. I have also maintained, however, that the genius of the building would lie in its ability to be a coherent work of art that seamlessly houses a high-brow cultural institution on the Howe half of the block while functioning as an exciting, funky commercial building on the Granville half of the block.

Assuming the Rattenbury building continued to function as a cultural institution (possibly even as a second building for the Vancouver Art Gallery, connected to the new Gallery by a glass sky-bridge over Howe), then the virtue of the above solution is its success in solidifying the Robson Square area as the cultural/political epicentre of the city while maintaining and enhancing Granville Street as the premiere funky retail/entertainment district.

[jlousa]

I don't have any inside info on this, but I'm sure someone else on here does. I will guess that we will see the site reworked though. For the amount paid out, it would take a very long time to recoup the money with only higher lease rates. They had several scenarios planned and one of them would allow them to build a tower or two while removing the top couple of floors and building the tower thru the exisiting space. The building would be stripped and reclad. They would be able to keep retail open while building thru but ideally they would have it closed until the towers poke out the top, (probably a year or so).
As an urbanist I'm excited about the potential here, as a consumer I'm saddened a little as Sears caters to a market that will be underserved once it's gone. Downtown could really use a Target

[Hed Kandi]

..

[Hed Kandi]

..

[Mininari]

... and see a wrecking ball show up Nov 1st.

Personally, I'd prefer dynamite. A lot of dynamite.

[Metro-One]

This is great news, but we should also be worried.

This is a terrible location for residential to be placed, hopefully this plot of land can only be developed commercial / retail.

Also, it would be nice to have a multi level department store retained here, with connection to Pacific Centre and skytrain.

Chances are the building is just going to be re clad with a new tenant (which is great), but if it is completely re-built, this could also be a good opportunity to expand Pacific Centre slightly (of possible) and build a south entrance / exit to the Vancouver City Central station, which it needs.

And yes, i would love to have it look like Daimaru in Kobe, in fact I have a picture of that exact same building and have used it as an example in the past as what to do with Sears ;)

[Hed Kandi]

..

[dreambrother808]

That is some serious beauty, Kandi.

As for the end of Sears, hallelujah! There will be a retail gap left in its wake. A Target downtown, like Jlousa proposed, would be a great addition, if feasible. In some other location of course. If we can have Costco downtown, surely we can have a Target. Now we just need an Ikea, however unlikely. :)

[GeeCee]

While Target might not exactly fit the area, I think that they would put a good look on the building. Nice new exterior with giant Target logos on it.. oh yeah. :)

[trofirhen]

I wish it could be made into a Westlake Center type of thing. That is such a prime location, it needs to be a real magnet.

And of course, as Metro said, that spot is no good at all for residential.

[connect2source]

Something multi-use would be ideal! Grand entry to Pacific Centre off Robson, with the first two floors catering to flagship retail much like the new areas of Yorkdale, the top 2 - 4 floors could house a department store much like the Nordstrom in the San Francisco Centre in downtown SF. BNN is speculating that CF already has nailed a tenant, their guess is Nordstrom, JC Penny, Target or a non US retailer. The conversion with transform our city centre for sure.. long overdue!!

[officedweller]

Yeah, the biggest rumour that actually did come true!

Thoughts:

Even if Nordstrom does move in, the space is 600,000 sq ft and from what others on the forum have said, that's too big for a Nordstrom flagship (200,000 sq ft(?)).

That suggests that there will need to be some sort of redevelopment (in addition to just the facade)

The structure is steel frame - so that may lend itself to reconfiguration.

In downtown San Fransisco, Nordstrom has a store above the multi-storey San Fransisco Centre mall [EDIT - great minds ...] - so it's conceivable that (instead of a vertical split) Nordstrom take the top 3 floors of Sears and the parts below become new retail space for Pacific Centre.
I would like to see a brightly lit atrium opening onto Granville Street (one-sided) that would also allow a large floorplate retailer on the lower floors))

Pacific Centre has repositioned itself as an upper end retail mall - so it would be a bit odd for a Target to enter the mix, although they do occupy a different marlet than Nordstrom.

I agree that the downtown retail market is getting higher end - if they do open, it'll be interesting to see if Nordstrom does well given the history of Vancouver and higher end stores - Woodward's tried it and dies, so did Eaton's and Sears "on Robson" even tried it too in the early years.

So that's the second decampment of Sears from downtown Vancouver - The first was the closure of the Sears Harbour Centre store (in the late 1980s?) - in the former Eaton's/Spencer department store space. At the time, it was said that Sears' primary market is in the suburbs - and that still seems to ring true.

News1130 interviewed Michael Geller - who suggested that VAG may now be re-interested in the space.

http://www.news1130.com/business/article/336986--sears-store-in-downtown-vancouver-shutting-its-doors

EDIT - JC Penney? That would be a surprise, given they aren't doing well in the US and are similar to Sears.

[racc]

It would be great to have some cafes with patios along Granville Street along with some weather protection. Don't planners know that rains in Vancouver? A Robson Street entrance to the Canada Line would be great. Even better, an entrance to the Mall and Canada Line from Robson Square. Robson Square was designed to be an entrance to a subway down Howe Street.

[golog]

Didn't think it would happen, but money talks, and Cadillac paid a very big number not to play a longer waiting game with Sears. Store closes Oct 31.

http://www.vancouversun.com/business/Sears+Canada+closing+Pacific+Centre+store+this+year/6240477/story.html

Call it intuition : )

[Vestry]

http://i.imgur.com/gSpi8.gif

[connect2source]

As mentioned on BNN, CF's payout to Sears comes from the fact that they're already secured a deal, it will remain retail and not become the new VAG location, the use will stay the same as it's part of CF's Pacific Centre, only the tenant will change.

[Pinion]

Great news. Don't mind if it stays a mall - PC is a bit small as-is. But of course a re-cladding is mandatory.

A lot of downtown peninsula people already came to North Van for Wal-Mart. I wonder if Sears at Capilano Mall will benefit from this too.

PS It is called Nordstrom, not Nordstrom's. Just a personal pet peeve.

[golog]

There is a lot of wasted space in Sears today. Whether renovation or redevelopment, better use of the space will be made (which also brings better rents, the whole reason why Sears was bought out)

So even if you would shop at a Sears and not a Nordstrom's, it should end up being a positive for you. The size and location are significant enough that it will change retail outside of it as much as it does on the inside.

[TwoFace]

I guess in the long run demand will dictate pricing, or they will fade away like the others did.
As long as they punch some windows out and slap some exterior paint around, I'm OK with it.

http://www.bnn.ca/News/2012/3/2/Sears-to-close-three-stores-in-top-markets.aspx

[officedweller]

... Robson Square was designed to be an entrance to a subway down Howe Street.

More likely under Hornby, as the truck tunnel under Howe would get in the way.
See also 1975 transit plan showing Steetcar/LRT on Hornby:
http://regardingplace.com/?p=8157

[flight_from_kamakura]

yeah, with what cadillac fairview paid for this, they must have another tenant. i'd guess target before nordstrom, given their plans in canada. i'd also guess, in that case, that we're unlikely to see much beyond renovation.

[Canadian Mind]

Man, I thought PeterPrinciple was full of shit when he said that the lease was up.

Guess he wasn't lying. Peter, if you ever read this, I know I didn't put you down, but I owe you a beer anyways at the next SSP meet (on top of the 2 I owe JLousa and the... 6? I owe Metro-One).

[DKaz]

http://regardingplace.com/?p=8157

URL Change: http://spacingvancouver.ca/2010/04/07/vancouvers-1975-downtown-transit-plan/

[jlousa]

The lease wasn't up, it was bought out, big difference, like $170M big.

[yogiderek]

When Eatons closed there was massive sales. I'm wondering if we'll have the same bargains at this Sears location. :) I hate that building. Wish they would rebuild the second Hotel Vancouver again on that site. Though now it would be oriented on Robson instead of the original Georgia street. A new hotel, tower and 200,000 sq foot Nordstroms would be fantastic. Plus, fix up that lifeless plaza in front of it. Build something out onto the street again. All three streets facing that store are disasters that need some life.:banana:

[officedweller]

Looking forward to the sales - although the merchandise selection isn't as good as it once was.

The plaza is used a lot in the summer - esp. with CFOX's summer concert series every Friday (Corus is a TD Tower tenant).

[WarrenC12]

Sears/Eatons must have had an incredible deal on a long term lease to make a $170M buyout worthwhile... and of course CF had a much bigger deal ready to go.

[jsbertram]

More likely under Hornby, as the truck tunnel under Howe would get in the way.
See also 1975 transit plan showing Steetcar/LRT on Hornby:
http://regardingplace.com/?p=8157

I was told years ago that when Erickson designed Robson Square, the future subway was going to be run under Robson St, so that's why the stairs/ramps are north & south of today's skating rink. They were designed to manage the crowds entering and leaving a busy subway stop.

The next level down (what we know today as UBC downtown campus) was to be the transit mezzanine a la Montreal, and then the deepest level was to be the subway platforms and tunnels.

A Robson Subway could still be built, but since it would have to go under the Granville St Canada Line, it would just stay at that deep elevation to get under the Robson Square truck tunnels too.
Easy Peasy.

[jsbertram]

The plaza by the Canada Line station was going to be rebuilt after the Canada Line station was finished, so I would expect the plaza to be done at the same time as re-habbing the eatons/sears building. May be replaced with a northern extension of the Sears building to cover the plaza & get a better grand entrance to the mall, TD Tower, (ex-) Sears, and Canada Line.

I was lazily thinking today on the train this morning about what to put in that space.

- UBC Downtown campus moves in; Robson Square taken over by the Art gallery; new galleries built under Front lawn of art gallery?

- VAG takes over all the space; UBC Downtown campus renovates & moves in to old Court House?

- SFU Downtown campus expansion (or space consolidation)?

- basement of Sears gets taken over for mall expansion; main floor is boutique retail space; upper floors converted to offices. - requires recladding of exterior (yay!)

- building demolished & replaced with one or two new towers - just like the north block of Pacific Centre.
both towers as office space?
One tower as condos? If Telus can do that only a block away, why not?

- has Target done an urban store before? I've only seen them in the 'burbs. Same question about WalMart.

[connect2source]

As mentioned, CF's 170M buyout stems from alternate retail ( and more lucrative ) interest either firmly established or under late stages of negotiation, so the building will stay retail however, the configuration may change significantly, ie: dept. store on upper levels and flagship retail on the first two levels. Our retail scene is short of prime location +5000 sq. foot spaces, this just may satisfy the demand for exciting, large format spaces which Robson and Granville seriously lack.

[red-paladin]

The things I miss when I go on vacation!

[SpongeG]

the 170 million figure also includes the lease buyouts for calgary and ottawa - and i just read on facebook that nordstrom is taking over all three stores in the deal as they want to and have publicly said that they are entering canada

it remains to see how they will chop up the sears here to fit their size - i know when they took over fredrick and nelson in seattle that they only used 4 of the 7 floors i think it was

[jsbertram]

rumours from a friend (of a friend &tc..) are that Nordstroms is taking all three spaces.

Meanwhile ... another rumour is that Cadillac Fairview has a redesignation of their land use under way for Chinook Centre in Calgary.

And still another rumour ... Sears will use the $$ to open new locations in Calgary, Vancouver & Ottawa.

<Grain of Salt included>

[SpongeG]

its says this in the article

He said the deal offers Sears an “attractive financial benefit” allowing it to focus on new prototypes at other locations to build on its strengths. He outlined four new formats that Sears will soon start to test, including four conventional department stores, expanded franchised “dealer” stores in smaller communities and a larger-than-usual home-goods store in Ottawa.

http://www.theglobeandmail.com/globe-investor/sears-to-close-three-stores-in-top-markets/article2356330/

[LeftCoaster]

As many of you have probably guessed this is in fact the "big big news" I was referring to last week in the rumours thread. It was more or less compelted at that point but it had not been finalized at that point so hence the delay in the announcement.

Sears will indeed be leaving on the 31st, and will also as some of you were wondering be liquidating their merchandise in the months leading up to that date.

There are several plans related to the redevelopment, and it will become clear in the next few months what they will be. I have a feeling how it will shake out in the end but there are still some pieces up in the air and much of it remains confidential.

It is important to note to those speculating about height restrictions and redevelopment plans that this site has already used its maximum density, so there is not a lot of impetus to completely redevelop the site as opposed to renovating it for alternate uses.

More info will be forthcoming, but this is a day many of you have been hoping for so just enjoy it and know that whatever replaces the Sears will be miles better than the current toiletbowl.

[NewfBC]

Sears/Eatons must have had an incredible deal on a long term lease to make a $170M buyout worthwhile... and of course CF had a much bigger deal ready to go.

A very incredible deal. I don't remember the exact terms.. but they were paying next to nothing for the Pacific Centre lease.

Ron.

[LeftCoaster]

They were involved with the initial development which is why their terms were so favourable.

[officedweller]

The rumour was appreciated!

I was told years ago that when Erickson designed Robson Square, the future subway was going to be run under Robson St, so that's why the stairs/ramps are north & south of today's skating rink. They were designed to manage the crowds entering and leaving a busy subway stop.

The next level down (what we know today as UBC downtown campus) was to be the transit mezzanine a la Montreal, and then the deepest level was to be the subway platforms and tunnels.

A Robson Subway could still be built, but since it would have to go under the Granville St Canada Line, it would just stay at that deep elevation to get under the Robson Square truck tunnels too.
Easy Peasy.

That makes sense - the Howe St. tunnel would only be a minor obstacle at 90 degrees, versus an allignment under it along its length.

I think Target has a downtown store in Minneapolis (its head office city)

http://www.phototour.minneapolis.mn.us/7472

[officedweller]

Another article:

http://blogs.vancouversun.com/2012/03/02/the-great-white-urinal-will-soon-be-vacant-again-with-sears-departure/

Of interest - Target planning for a downtown Portland store and it's not all on one floor, either.

Target will lease approximately 100,000 square feet of the Galleria Building, which presently houses Brooks Brothers and other tenants. The retail space will be split between 40,000 square feet on each of the second and third floors; a ground-floor lobby and the loading dock facility will account for the remaining 20,000 square feet.
http://djcoregon.com/news/2011/10/21/target-finalizing-lease-for-downtown-portland-store/
http://djcoregon.com/news/2011/04/27/target-gets-serious-about-downtown-galleria-space/

Blog on urban Target stores (meaning not surrounded by surface parking):

http://urbanmilwaukee.com/2011/02/21/target-in-downtown-milwaukee/

[trofirhen]

I was told years ago that when Erickson designed Robson Square, the future subway was going to be run under Robson St, so that's why the stairs/ramps are north & south of today's skating rink. They were designed to manage the crowds entering and leaving a busy subway stop.

The next level down (what we know today as UBC downtown campus) was to be the transit mezzanine a la Montreal, and then the deepest level was to be the subway platforms and tunnels.

A Robson Subway could still be built, but since it would have to go under the Granville St Canada Line, it would just stay at that deep elevation to get under the Robson Square truck tunnels too.
Easy Peasy.
:previous:
Could not such a Robson line, if deep enough not to collide with any existing infrastructure, form part of that hypothetical RRT Line going from North Burnaby, down Hastings, connecting downtown, going under Robson before turning down Denman, crossing the Bay and going to Arbutus & 41st ??

Wrong thread, I know, but this previous post figured into that. (I guess the discussion could be placed in Transit Fantasies)

Anyway, back on topic; yeah, I can't think of how anything, however modest, that couldn't be an improvement over the Sears store as it is now. The storefronts are bleak on three sides. As someone mentioned, punch out some windows, makeover the street level with something attractive, and we're on our way. However this turns out, I'm sure it will eventually develop into something that will add real pulse to central downtown.

[jsbertram]

Nordstrom is more than just rumours, according to the G&M:

"Sears Canada Inc.’s SCC-T decision to jettison three of its top store locations opens the way for upscale U.S. department-store rival Nordstrom Inc. JWN-N to make its long-awaited entry into Canada."

http://www.theglobeandmail.com/report-on-business/sears-closing-of-top-locations-opens-door-for-us-rival/article2357390


also:
"Sears currently pays as little as $1 a square foot at key locations such as Vancouver’s Pacific Centre, industry sources said"

If true, no wonder Sears snapped up the bankrupt Eatons -just for the leases, and yet they still managed to lose money.

[quobobo]

- has Target done an urban store before? I've only seen them in the 'burbs.

Yep - Target has a pretty good 2-story store in downtown Minneapolis.

[whatnext]

Nordstrom is seriously overestimating the appeal of a high-end department store IMHO. From Simpsons to Woodwards to Eatons the Canadian retail scene is littered with department stores that went high-end. At heart we Canadians are a cheap people.

[GeeCee]

Nordstrom is seriously overestimating the appeal of a high-end department store IMHO. From Simpsons to Woodwards to Eatons the Canadian retail scene is littered with department stores that went high-end. At heart we Canadians are a cheap people.

It seems to be working out pretty good for the Bay.

[trofirhen]

It seems to be working out pretty good for the Bay.
:previous:
Would you call the Bay truly high end? What about stores in the USA like Nieman Marcus. It seems it is still operating, based out of Dallas. It was suggested for Vancouver at one time, years back. Just an idea.

[cornholio]

Btw, Does anyone know what the height limit is for this site?

http://img14.imageshack.us/img14/7084/27493276.png

Vancouver conveniently doesn't have a head planer around anymore. Maybe Cadillac will throw some money at the city and build something big with a generous density bonus and lax parking requirements. Would be funny if they already had plans drawn up long before deciding to buy the lease out.

Just using my imagination, doubt something like this would actually happen...

You know through some money at the city for some bonus density, then lease 200,000 square feet of space to the art gallery for next to nothing, have them connect it with the current gallery site on the north west side of the property, have the city give them quadruple the density back in the form of bonus density so 800,000sqft, then give Nordstroms 200,000 or so sqft on the north east side of the site, build a 600+' office tower on the Robson/Granville south west side of the site, then after stick another small tower/building expansion on the Plaza site and fill the remaining 100,200,000sqft of retail space after all construction is finished with other retail tenants and open up the Granville street side by reconfiguring it to have street front retail. Then with whats left of the roof build a Dr.Sun Yat Shen style Chinese garden green roof type style of thing, if its steel frame it could hold the extra weight a some pots/ containers of soil and walkways. To top it off the art gallery can then look for a sponsor to build the underground theater under the front lawn of the gallery while they reconfigure the gallery with all the new space.

[GeeCee]

:previous:
Would you call the Bay truly high end? What about stores in the USA like Nieman Marcus. It seems it is still operating, based out of Dallas. It was suggested for Vancouver at one time, years back. Just an idea.

I dunno, I'm not really a retail kind of guy. :P They've certainly been adding quite a bit of what I would generally consider to be higher end items. Nordstrom's selection is pretty similar to what the Bay is offering these days, I believe.

[EdinVan]

I dunno, I'm not really a retail kind of guy. :P They've certainly been adding quite a bit of what I would generally consider to be higher end items. Nordstrom's selection is pretty similar to what the Bay is offering these days, I believe.

Well lord knows their prices have certainly gone higher-end -- though without a commensurate increase in customer service. Perhaps Nordstrom will be different in this regard, like Eaton's during its better days.

[Van23H]

Nordstrom is much more high end the Bay. Some Nordstroms house in-store boutiques for Chanel, Louis Vuitton, Gucci and Prada and etc... I believe there is room in the market for another high end department store. The Holt Renfrew in Vancouver is always in dead heat with the Bloor store for top sales. Plus we have a large asian population who are steady buyers and consumers of luxury goods and create a stable market coupled with wealthy tourists. I think the addition of Nordstrom would help to create some healthy competition in Vancouver while offering us more options in a currently brand skimpy shopping environment. The closure of Sears offers new and exciting opportunities in the Vancouver retail landscape and I look forward to seeing what happens to the building in the near future.

[SpongeG]

:previous:
Would you call the Bay truly high end? What about stores in the USA like Nieman Marcus. It seems it is still operating, based out of Dallas. It was suggested for Vancouver at one time, years back. Just an idea.

well you haven't seen the new bay, they carry many high end labels now like givenchy, balmain, black label ralph lauren etc. they have really switched things around, the downtown vancouver store is supposed to be getting an instore burberry boutique

the mens is much better now, many labels only carried at the bay, they have a huge selection of every level of hugo boss as well

[SpongeG]

plus those housewives of vancouver with all their money could support a high end store on their own lol - who else can afford 4 houses in west vancouver probably doesn't blink at dropping $4000 on a balmain outfit

[Hed Kandi]

..

[logan5]

this most certainly cannot be the big big news, because the last article i read on the sears building said that it could support an office tower at least the size of td tower right next door. everybody knew sears was going down.

[Metro-One]

:previous:I fee the same, if this is the big big news, i feel a little cheated, hehe, was hoping for a 600 foot + office tower.

[Built Form]

Heather Deal please shut up! Now she's on the bandwagon to have the VAG move into Sears. She should know the facts before she starts spewing ideas, and in this case all they require is a little common sense.

http://www.theglobeandmail.com/news/national/british-columbia/vag-should-consider-moving-into-sears-site-advocates-say/article2357590/

[nova9]

Heather Deal please shut up! Now she's on the bandwagon to have the VAG move into Sears. She should know the facts before she starts spewing ideas, and in this case all they require is a little common sense.

http://www.theglobeandmail.com/news/national/british-columbia/vag-should-consider-moving-into-sears-site-advocates-say/article2357590/

But think! A modern art gallery in the Sears building would be our equivalent of Centre Pompidou in Paris!!! :tup::tup::cool::D /sarcasm

[SpongeG]

one of the friends on my facebook was discussing the sears building and a lot of the people wanted to see the VAG take it over - some just wanted it to get washed

[p78hub]

A power wash would be great for that building at this point. It's just so scummy-looking right now.

[LeftCoaster]

Nordstrom is much more high end the Bay. Some Nordstroms house in-store boutiques for Chanel, Louis Vuitton, Gucci and Prada and etc... I believe there is room in the market for another high end department store. The Holt Renfrew in Vancouver is always in dead heat with the Bloor store for top sales. Plus we have a large asian population who are steady buyers and consumers of luxury goods and create a stable market coupled with wealthy tourists. I think the addition of Nordstrom would help to create some healthy competition in Vancouver while offering us more options in a currently brand skimpy shopping environment. The closure of Sears offers new and exciting opportunities in the Vancouver retail landscape and I look forward to seeing what happens to the building in the near future.

Nordstrom operates somwhere between the Bay and Holts in terms of high end offerings. It would fill a nice niche in Canada where I think they would do quite well, and clearly they feel the same way.

There is little reason for Neiman Marcus to come to Canada as tey would be in direct competition with Holts which is already well established and serves the high end relatively well.

this most certainly cannot be the big big news, because the last article i read on the sears building said that it could support an office tower at least the size of td tower right next door. everybody knew sears was going down.

:previous:I fee the same, if this is the big big news, i feel a little cheated, hehe, was hoping for a 600 foot + office tower.

Jesus you guys are tough to please. Everyone spends years on this site bitchig about the Sears building and how they want it gone, it finally happens and all you can say is the news wasn't big enough. :shrug:

I give up.

one of the friends on my facebook was discussing the sears building and a lot of the people wanted to see the VAG take it over - some just wanted it to get washed

Well I'm sure the VAG would love the space, but given how much CF spent getting Sears out you can imagine how they aren't very excited to just fire off the space to someone who is going to pay little to no rent.

First choice is clearly Nordstrom, if that doesn't pan out you can be certain they have several other options to justify the buyout.

[Darren Tate]

Jesus you guys are tough to please. Everyone spends years on this site bitchig about the Sears building and how they want it gone, it finally happens and all you can say is the news wasn't big enough. :shrug:

I give up.


Well I happen to think it's huge news. Any change to that building's exterior will be a welcome one. I am thrilled to hear that Sears is finally leaving. This is fantastic news for downtown Vancouver. :cheers:

[entheosfog]

If the building stays, I just hope some sort of retail (or something, anything!) could be built on the Granville/Robson sides, given its location. It deserves more than what's currently there:

http://img818.imageshack.us/img818/5609/img3410k.jpg

The entrance at Granville and Georgia actually isn't that bad!
http://farm7.staticflickr.com/6161/6177458348_193d88967a_b.jpg (http://www.flickr.com/photos/entheos_fog/6177458348/)
Sears (http://www.flickr.com/photos/entheos_fog/6177458348/) by entheos_fog (http://www.flickr.com/people/entheos_fog/), on Flickr

[trofirhen]

I still think it's a shame something Weslake Center-ish couldn't go in there, anchored very possibly by Nordstrom, with a bit of structural and cosmetic redesign for the whole building, (like windows, awnings, maybe a glass atrium rooftop garden ...)

[connect2source]

I still think it's a shame something Weslake Center-ish couldn't go in there, anchored very possibly by Nordstrom, with a bit of structural and cosmetic redesign for the whole building, (like windows, awnings, maybe a glass atrium rooftop garden ...)

What's to say the layout won't be highly altered. Nordstrom ( or any other department store tenant ) is highly unlikely to occupy the entire enormous Sears / Eatons space, my guess would be three floor max and likely the upper floors much like San Francisco Centre, the lower floors could very likely be 'two storey' flagship sized spaces much like Yorkdale giving it an open, airy feel and connecting the existing mall straight through to Robson which is the natural traffic pattern. Personally I think Westlake Center is awful, short floors, bad flow, lots of dead ends and lacks direct access to a major anchor, it's suffered over the years with many vacant spaces and the loss of Neiman Marcus Galleries in the early 2000's. I do get your point, however, regarding a similar format as the size and scope of the current building would adapt well.

[logan5]

Jesus you guys are tough to please. Everyone spends years on this site bitchig about the Sears building and how they want it gone, it finally happens and all you can say is the news wasn't big enough. :shrug:

I give up.


Bad tact by me. Anyways, don't give up, any inside information is appreciated.

Not sure if I read it here or somewhere else about the frame of the sears building being strong enough to support a significant office tower. That would be a welcome change from what's currently there.

[catkat]

Word on the street is this will be Jysk's new flagship store :cool:

[trofirhen]

Word on the street is this will be Jysk's new flagship store :cool:

What is Jysk, (or is it J.Y.S.K.)? Love to know

[Hed Kandi]

..

[GeeCee]

Word on the street is this will be Jysk's new flagship store :cool:

:yuck::yuck::yuck::yuck::yuck:

[Metro-One]

Nordstrom operates somwhere between the Bay and Holts in terms of high end offerings. It would fill a nice niche in Canada where I think they would do quite well, and clearly they feel the same way.

There is little reason for Neiman Marcus to come to Canada as tey would be in direct competition with Holts which is already well established and serves the high end relatively well.





Jesus you guys are tough to please. Everyone spends years on this site bitchig about the Sears building and how they want it gone, it finally happens and all you can say is the news wasn't big enough. :shrug:

I give up.



Well I'm sure the VAG would love the space, but given how much CF spent getting Sears out you can imagine how they aren't very excited to just fire off the space to someone who is going to pay little to no rent.

First choice is clearly Nordstrom, if that doesn't pan out you can be certain they have several other options to justify the buyout.

Sorry to be a Debbie downer. I just dream a little too big, I was hoping that the "Sears closing" announcement was going to be just part of a much larger announcement involving re-building the entire site with office towers, new south exit for Van City Centre station and a brand new retail podium with lights and digital billboards on the Robson / Granville side.

Having Sears closing is great news! But for me it seems to be only the first step of a true big announcement. What is done with the site and what replaces Sears could go either way, it actually makes me nervous. For example, a new tenant could move in without even re-cladding the building. Another bad scenario is that condo towers are built on site (and this area would be the worst in the entire city to have condo towers). I guess thats why I feel like this, because as is right now it is very open ended.

[whatnext]

On the contrary, recent studies (http://www.collierscanada.com/~/media/Files/Research/2011/The%20Retail%20Report%20-%20Spring%202011.ashx) have shown that Canadians spend more per capita on retail goods than our American counterparts.

This is particularly interesting when one considers that Canadians possess a lower average income (http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita) and yet pay a greater amount (http://www.ctv.ca/CTVNews/TopStories/20110414/loonie-prices-bmo-110414/) for the same item as our southern neighbors.

And Canadian consumer debt levels have now surpassed US ones, so anyone basing a business plan for high-end retail on that report is going to get burned, likely sooner rather than later. There are only some wealthy immigrants to go around, and they're unlikely to keep a large store afloat. The rest of the populace waits in 2 hour border line-ups to get to the Premium Outlet Mall in Burlington.

As to the building, its not as horrendous as some woudl make out. Google any modern downtown department stires. Aside from the strangely missing ground level windows, its no worse than many examples, and better than some:
http://www.bing.com/images/search?q=donwtown+macy%27s&view=detail&id=6066CF59429CD33B80F552DCC2828894E0917BDC&first=31&FORM=IDFRIR

[SpongeG]

What is Jysk, (or is it J.Y.S.K.)? Love to know

you live in europe they are all over europe

www.jysk.fr/

they are based out of denmark with stores worldwide

[nova9]

What is Jysk, (or is it J.Y.S.K.)? Love to know

It's pronounced "yisk" and it's the Danish equivalent (but not really) of IKEA.

[Metro-One]

:previous:There is one in Maple Ridge, it is pretty much a smaller scaled IKEA.

[SpongeG]

nordstrom knows what they are doing, i am sure they have kept track of their shipping and customers based in canada - i think i read once that they had a large amount of vancouver based customers based on their internet shopping numbers

[trofirhen]

Having Sears closing is great news! But for me it seems to be only the first step of a true big announcement. What is done with the site and what replaces Sears could go either way, it actually makes me nervous. For example, a new tenant could move in without even re-cladding the building. Another bad scenario is that condo towers are built on site (and this area would be the worst in the entire city to have condo towers). I guess thats why I feel like this, because as is right now it is very open ended.
:previous::previous::previous:
makes me nervous too, all the way over here. given the stupidity awards of the city government, hold your breath tight on this one, and get ready to protest if necessary ... (well, however to express yourself best)

[catkat]

you live in europe they are all over europe

www.jysk.fr/

they are based out of denmark with stores worldwide

Yes I know, I was kidding

they are craptastic

[whatnext]

It's pronounced "yisk" and it's the Danish equivalent (but not really) of IKEA.

How do the Danes carry all that stuff home on their bikes? :haha:

[twoNeurons]

For those of you worrying about another high end retailer surviving... you don't have to worry. The gap between the extremely wealthy and the poor is wider than ever before. More and more industries and retail is targetting this growing market. Growing in wealth and influence, not necessarily size.

It's just the way things are going in most English-speaking developed countries. Governments with little money, wealth being concentrated in a few.

Not to be such a downer, it's just the way it is. I'm sure Nordstrom will do just fine. But I could be wrong.

[SpongeG]

the way high end works too is say nordstrom and holt renfrew both carry chanel - but nordstrom may get the exclusive on certain chanel pieces from the collection so they are the only store one can go to, to get that particular piece and vice versa for holts - exclusive could just mean colour too - like holts get all the red jackets and nordstrom gets the same jacket in black or whatever

[Van23H]

I think Nordstrom is going to give Holt Renfrew a tough time since it has stronger buying power due to the companies shear size... meaning it is buying for more than 100 full line stores as opposed to Holt's 9 stores. That also means if brands are forced to choose between Holts and Nordstrom they would sooner drop Holts in order to maintain their business relationship in the US with Nordstrom. It will be interesting to see what brands will be carried in Nordstrom's future Vancouver store.

[SpongeG]

nordstrom isn't as high end as holts though - i mean you can get sketchers, converse and nike at most nordstrom stores in the shoe dept. compared to gucci, dsquared and whatever

my korean friend said holt renfrew is a real dept store to him like back in korea, but small, he said sears and the bay are not dept stores he is used to and doesn't think of them the same way

[Van23H]

I didn't say that Nordstrom was more high end than Holt Renfrew. Nordstrom covers a much broader market than Holts. They carry much more lower end stuff than Holts and in some stores carry just as a high end merchandise. The difference is Holts is a high end department store and carries majority luxury items and Nordstroms merchandise is usually mid-high but can vary dramatically depending on location. What I was trying to point out is that Nordstrom will want to have some exclusivity in the market... meaning they might have to fight Holts for some desired high end brands such as Chanel, Gucci and Prada and due to the companies size and strong relationships from the US they are more likely to win.

[SpongeG]

i got what your saying - it will be interesting to see which one we get here - i know the downtown seattle store compared to the bellevue store are quite different one is more like bloomingdales and the other is more like neiman marcus

many people complain about the selection at holt renfrew but they are tied into selfridges which has some clout as well in the fashion world

[trofirhen]

Let's start a Sears Site FANTASY THREAD. (It couldn' hurt)

[s211]

my korean friend said holt renfrew is a real dept store to him like back in korea, but small, he said sears and the bay are not dept stores he is used to and doesn't think of them the same way

And this is relevant in a Canadian context how? We're doing it wrong?

[whatnext]

Let's start a Sears Site FANTASY THREAD. (It couldn' hurt)

I'm not sure the words Sears and Fantasy belong together in the same thread. :haha:

[trofirhen]

I'm not sure the words Sears and Fantasy belong together in the same thread. :haha:
:previous:
You're right! That's a bit like apples and shoe-polish.

[Van23H]

Interesting article in the Vancouver Sun about the possibilities for redevelopment of the site! Hopefully no one has previously posted this.

http://www.vancouversun.com/business/Sears+departure+means+unloved+site+could+facelift/6243884/story.html

[trofirhen]

Interesting article in the Vancouver Sun about the possibilities for redevelopment of the site! Hopefully no one has previously posted this.

http://www.vancouversun.com/business/Sears+departure+means+unloved+site+could+facelift/6243884/story.html
:previous:
Interesting article. I like the idea of a "40 to 50 storey 'trophy' officer tower"