[Moncton] Retail Thread

[MonctonRad]

They are absolutely maintaining the current style and facade for the Rona on Cabela's Court.

They are currently paining the roof black (rather than Cabela's green). Aside from a few new windows, the exterior of the building appears untouched.

This pleases me greatly.

[DyAm00394]

Canadian Retailer Bentley Acquired By Owner Of Hart Stores

https://retail-insider.com/retail-in...f-hart-stores/

”The assets and store leases of leading Canadian luggage and travel products retailer Bentley & Co. Ltd. have been acquired by Paul Nassar, owner of Hart Stores.

The majority of Bentley’s 140 stores will be retained as part of the transaction, although around 40 stores may close as part of a restructuring of the businesses retail footprint, said Walter Lamothe, President and CEO of Bentley.

Nassar owns Hart Stores and several other small to medium retail operations in Canada. In 2015, he acquired 60 Hart Stores out of bankruptcy. Since then, Hart Stores have grown to over 120 stores with a presence in Ontario, Quebec and the Maritimes”.

[MonctonRad]

From the T&T

Home improvement store opening in former Cabela's building
Canadian home improvement retailer coming to former Cabela's building this fall
Author of the article:Sarah Seeley
Published Jul 25, 2024 • Last updated 1 day ago • 1 minute read
https://tj.news/moncton-miramichi/ho...belas-building (paywall)


Rona, a Canadian construction and home improvement retailer announced it will be opening a Moncton location in the former Cabela's building on Cabela Court. BRUNSWICK NEWS ARCHIVES (T&T photo)

The T&T article tells us nothing we don't already know, and, is being published about two months after the cat was let out of the bag, but, this is understandable since they have to deal with cold hard facts, while we on SSP are happy just speculating with rumours.

[MonctonRad]

Suddenly lots of work occurring in the last vacant CRU in the Plaza Boulevard Centre where the second of the two Stacked Pancake House's is going to be located. The plan is to open sometime in August.

Still no signage.

[MonctonRad]

The temporarily relocated American Eagle at CF Champlain is now open in the former lululemon space.

[MonctonRad]

Job adverts are now out for Best Buy Express at CF Champlain

[josh_cat_eyes]

I did some more digging on the Sobeys at CF Champlain. It turns out that Crombie REIT actually owns the building and they are the ones that have the lease on the land from CF. Sobeys then leases from Crombie. Also it looks like the store is looking at doing a renovation in the future. They would be looking at shrinking the floor space as part of that renovation, otherwise it doesn’t make any business sense. I don’t know how extensive of a renovation it would be, but I imagine it would be pretty extensive.

[MonctonRad]

Uniqlo to Open 5 Canadian Stores in Fall 2024
Craig Patterson
Retail Insider
https://retail-insider.com/retail-in...ST_EMAIL_ID%5D

Japanese fashion retailer Uniqlo is continuing with its Canadian store expansion with four locations announced for fall 2024, and an additional fifth store confirmed. It’s part of a bigger growth plan for the company which entered Canada with its first stores in 2016.

Following the opening of the first two Toronto stores nearly eight years ago, Uniqlo has since opened a total of nine locations in the Greater Toronto Area, all in major shopping centres. Three more stores will be added this fall as mentioned above. The Greater Vancouver market currently has four Uniqlo stores, with the fall opening of the Langley store marking the fifth in the region. The Montreal area has four Uniqlo stores as well, with Royalmount being the fifth in the region. Calgary, Edmonton, and Ottawa are all home to two Uniqlo stores. Uniqlo’s Canadian locations have opened incrementally since 2016 and over the past 18 months, the pace of store openings appears to have accelerated.

At this point, it would appear that Uniqlo is targeting store locations in potentially every major shopping centre in Canada that is commercially successful. Uniqlo may also target cities where it currently does not have stores, including Winnipeg, Halifax, Quebec City, London/Southern Ontario centres, and eventually even markets such as Victoria and the two largest cities in Saskatchewan.

Given the bolded statement, could Uniqlo eventually consider a store at CF Champlain? The article makes no specific mention of Moncton, but, if there is expected to be a store in Halifax, and, they are considering stores in Regina and Saskatoon, it would not be a stretch to eventually see a store in a CF shopping centre like Champlain Place. If there is a store in Halifax, a second store in Moncton would be useful in terms of bolstering the supply chain. I could see it happening.

[MonctonRad]

Villa Madina finally opens today at CF Champlain.

[jonny golden]

Given the bolded statement, could Uniqlo eventually consider a store at CF Champlain?

I was looking at the Uniglo website, and it looks like they have an extensive collection of stock. So I was thinking that they'd need a lot of square footage for a store - and what that would mean for Champlain Place.

So according to the story in Retail Insider:

The CF Sherway Gardens Uniqlo store will move into a retail space vacated by retailer Laura, according to sources, as well as adjacent spaces to create a Uniqlo store spanning about 15,000 square feet or so. It’s a size that appears to be a sweet spot for the retailer for its non-flagship locations in Canada.

So, a couple of things - There already is a relationship with the company that owns Champlain Place (Cadillac Fairview), and a typical store size is 15000 sq. ft.

Uniglo would be an excellent addition to Champlain Place, but where would it fit?

[MonctonRad]

where would it fit?

The combo SDM/former lululemon space would be pretty much ideal.

Don't expect anything in the short term. Uniqlo is still filling out their footprint in the "big six" cities, and, then will be moving into secondary markets like Halifax, QC and Winnipeg, as well as multiple locations in southern Ontario (like Hamilton, KWC & London). It is only after that they will look at selected smaller markets like Victoria, Saskatoon, Regina, St. John's and maybe Moncton.

We are looking at five or more years down the road before a CF Champlain store might become a reality.

I have a good feeling about Uniqlo though:
- Moncton has a history of punching above it's weight in retail offerings (LL Bean, Bass Pro Shop, MEC).
- Champlain Place is a CF property which gives us more leverage than many other similar sized cities (Uniqlo really wants into a certain CF location in a major central Canadian city, CF says "sure", but, there is vacant space in this other CF property in Moncton that they want to fill - would Uniqlo consider a package deal?). These things do happen in negotiations.
- If Uniqlo puts a store in Halifax, a second store in Moncton would make logistical sense in terms of maximizing the supply chain (instead of sending one half full truck out east each week to supply one store, why not send a full truck out east each week to supply two stores).
- My "rule of 50" still applies (anytime a chain gets up to 50 stores in Canada, usually one of them will be in Moncton). Uniglo will likely be nearing 50 stores within five years.

There will be no Uniqlo in Moncton in the short to medium term, but, in five years time, the answer to this question could be "perhaps."

My spidey senses are tingling a bit on this one.............

[jonny golden]

Originally Posted by MonctonRad

The combo SDM/former lululemon space would be pretty much ideal.

Don't expect anything in the short term. Uniqlo is still filling out their footprint in the "big six" cities, and, then will be moving into secondary markets like Halifax, QC and Winnipeg, as well as multiple locations in southern Ontario (like Hamilton, KWC & London). It is only after that they will look at selected smaller markets like Victoria, Saskatoon, Regina, St. John's and maybe Moncton.

We are looking at five or more years down the road before a CF Champlain store might become a reality.

I have a good feeling about Uniqlo though:
- Moncton has a history of punching above it's weight in retail offerings (LL Bean, Bass Pro Shop, MEC).
- Champlain Place is a CF property which gives us more leverage than many other similar sized cities (Uniqlo really wants into a certain CF location in a major central Canadian city, CF says "sure", but, there is vacant space in this other CF property in Moncton that they want to fill - would Uniqlo consider a package deal?). These things do happen in negotiations.
- If Uniqlo puts a store in Halifax, a second store in Moncton would make logistical sense in terms of maximizing the supply chain (instead of sending one half full truck out east each week to supply one store, why not send a full truck out east each week to supply two stores).
- My "rule of 50" still applies (anytime a chain gets up to 50 stores in Canada, usually one of them will be in Moncton). Uniglo will likely be nearing 50 stores within five years.

There will be no Uniqlo in Moncton in the short to medium term, but, in five years time, the answer to this question could be "perhaps."

My spidey senses are tingling a bit on this one.............

I think you're right about nothing in the near future.

I took a look at the CP map, and something jumped out at me - LLBean. All I've heard about them is that they aren't doing very well, and that their products are very pricey. It's 13312 sq. ft. If they were to vacate the mall at some point in the future, it could be a possibility for Globo, both size wise and also time wise.

[MonctonRad]

Originally Posted by jonny golden

I took a look at the CP map, and something jumped out at me - LLBean. All I've heard about them is that they aren't doing very well, and that their products are very pricey. It's 13312 sq. ft. If they were to vacate the mall at some point in the future, it could be a possibility for Globo, both size wise and also time wise.

I hope LL Bean stays. I buy some stuff there, most recently a pricey (but durable) shirt. This is the thing that people forget about LL Bean. It is not "fast fashion." It won't fall apart after 4-5 times in the washing machine. If you want clothes that you will still be wearing 5-10 years down the road, then this is the place to go. In the long run, you'll save money.

I imagine LL Bean is locked into a long term lease at CF Champlain (maybe 10 years). It won't be going anywhere in the short term. By the time the lease ends however, the timing might be right for Uniqlo to consider a store at CF Champlain. Your supposition therefore has merit.

I've been at LL Bean when it has been absolutely dead, but, I have also been there at times when there are a reasonable number of customers perusing the wares, and, there has been a line-up at the checkout. It just depends. Sales volume is not the only thing that drives profitability. Mark up is equally as important. You can make just as much money selling a few pricey shirts with a 100% mark up as you would many cheap shirts with a 15% mark up. Just because a store doesn't seem particularly busy most of the time doesn't necessarily mean it is not profitable.

[sailor734]

Originally Posted by MonctonRad

I hope LL Bean stays. I buy some stuff there, most recently a pricey (but durable) shirt. This is the thing that people forget about LL Bean. It is not "fast fashion." It won't fall apart after 4-5 times in the washing machine. If you want clothes that you will still be wearing 5-10 years down the road, then this is the place to go. In the long run, you'll save money.

I imagine LL Bean is locked into a long term lease at CF Champlain (maybe 10 years). It won't be going anywhere in the short term. By the time the lease ends however, the timing might be right for Uniqlo to consider a store at CF Champlain. Your supposition therefore has merit.

I've been at LL Bean when it has been absolutely dead, but, I have also been there at times when there are a reasonable number of customers perusing the wares, and, there has been a line-up at the checkout. It just depends. Sales volume is not the only thing that drives profitability. Mark up is equally as important. You can make just as much money selling a few pricey shirts with a 100% mark up as you would many cheap shirts with a 15% mark up. Just because a store doesn't seem particularly busy most of the time doesn't necessarily mean it is not profitable.

^ all valid points. I usually give LL Bean stuff away before I wear it out. I have a Gore-tex rain jacket from them that must be close to 20 years old.

[MonctonRad]

- They are busily beavering away today on the second Stacked Pancake House location in the Plaza Boulevard Centre, despite the fact that it is New Brunswick Day. They said they want to be open by the latter half of August, and, I believe them. BTW, has anyone tried the Petitcodiac Plaza location of Stacked yet? A review would be nice.

- Signage in the windows of the Laura & Melanie Lyne locations currently under construction at Wheeler Park indicated September openings.

- And, I have it on good authority the former Weight Watchers space at Wheeler Park has been leased. I have been told who the lessee is, but, I have been sworn to secrecy. In any event, the new tenant isn't really a very exciting one, but, this is further proof that the new owner of Wheeler Park (Leyad) remains aggressive in promoting this retail plaza. I believe this leaves only be one vacant CRU at Wheeler Park (former Source location). Could Leyad potentially consider future expansion? The parking at Wheeler Park is pretty expansive, I could see some infill coming, especially to the NE, around Superstore and The Brick.

[jonny golden]

Could Leyad potentially consider future expansion?

Something that intrigued me when they acquired the property last year was the comment by owner Henry Zavriyev.

"While there are currently no plans for residential projects on the site, we're not closing any doors and remain receptive to diverse opportunities."

Leyad is heavy into residential properties, particularly in Montreal. Here's their bio from the news story at the time they purchased Wheeler Park:

ABOUT LEYAD
Leyad is a leading real estate development company based in Montreal. It specializes in the design, construction, and management of residential, commercial, and mixed-use properties. Its team of experts is dedicated to providing high-quality and affordable buildings to families and communities.

I know that in the past we've discussed the possibility of a residential component at Wheeler Park, and since Costco left, the huge parking lot is much less busy. You'd have to think that Leyad is aware of the Moncton residential market.

Could they consider doing an apartment building project on the site?

Leyad property in Montreai:

[MonctonRad]

if the former Kent store (now Industrial Commercial Supplies), and the former Costco (now U-Haul) were part of Wheeler Park, then I would say that the possibility of some residential conversion would exist, but, they aren't. Both the Costco and Kent stores were "shadow anchors" of Wheeler Park, and, their properties are completely separate.

Wheeler Park only extends to the north as far as the driveway between the (former) Costco property and The Brick. As such, there is only enough space available to built a small plaza of two on existing surplus parking. There is no room for a substantial residential building, and, I personally think a residential building would be ill suited for Wheeler Park (who would want to live in an apartment building stuck in the middle of a parking lot).

As far as Wheeler Park is concerned, the only way residential conversion would work is by demolishing a large part of the development and starting afresh. I don't think this is in the cards. The Vision Lands are right across the street, and, this is where new high density residential in the north end will go. Meanwhile, there is actually a shortage of available CRUs developing in the city. Creating some new commercial/retail space actually makes more sense.

[new kid in town]

Originally Posted by MonctonRad

- BTW, has anyone tried the Petitcodiac Plaza location of Stacked yet? A review would be nice.

We ordered by delivery on the day they opened. Their pancake choices are very unique from other breakfast places (i.e., IHOP and Pur & Simple). And they have a "hash" meal with lots of nice options (think poutine with tater tots). Would definitely order again in the future.

[drewber]

Originally Posted by new kid in town

We ordered by delivery on the day they opened. Their pancake choices are very unique from other breakfast places (i.e., IHOP and Pur & Simple). And they have a "hash" meal with lots of nice options (think poutine with tater tots). Would definitely order again in the future.

https://www.facebook.com/share/p/EfC...ibextid=A7sQZp

A pretty complete review from Facebook seems to be a hit thus far