[Moncton] Retail Thread

[stephan.richard]

Originally Posted by MonctonRad

I've had a very interesting conversation with a highly trusted source regarding some inside information about CF Champlain.

Apparently some big things may be in the offing for the mall over the next year or so. At least three new retailers are looking at potentially coming to the mall.

As usual, I have been sworn to secrecy as delicate negotiations are ongoing or expected, and, if the beans were spilled too soon thing could go sideways, so, I can't be too specific, but, if this all pans out, we could see:

1) - the return of an old friendFootlocker
2) - the final arrival of a retailer once interested in CF Champlain about a dozen years ago. Hollister or Nike
3) - the arrival of a truly exciting new signature retailer to the mall. Artizia

If this were to transpire, almost all the vacant retail space in the mall would be gone.

1. Footlocker
2. Hollister, Nike, Jouneys
3 Artizia

[MonctonRad]

Originally Posted by stephan.richard

1. Footlocker
2. Hollister, Nike, Jouneys
3 Artizia

I don’t want to turn this into a guessing game, because this will only confirm the interested parties by the process of elimination but - wrong on all counts.

I have no further comment (for now).

One of the interested parties however will come as a surprise to many.

[MonctonRad]

Construction ai the Meltwich location in Petitcodiac Plaza across from CF Champlain has stalled out. The site has been dead for a couple of months at least. Could there be financial issues?? Anyone have any info???

[Leroy321]

Im not sure if anyone has said it yet so I’m going to ask but does anyone know what’s going in the old money mart location beside battery house? They have a red sign going up but there’s no letters on it yet, when I drove by I took a quick glimpse through the window it looks like it’s a fast food restaurant with a red interior also.

[drewber]

Originally Posted by Leroy321

Im not sure if anyone has said it yet so I’m going to ask but does anyone know what’s going in the old money mart location beside battery house? They have a red sign going up but there’s no letters on it yet, when I drove by I took a quick glimpse through the window it looks like it’s a fast food restaurant with a red interior also.

I didn't know they closed the money mart there. Google still says open, money mart website, number still working. It's possible it's a rebrand as they switched from yellow to red for their color motif

[MonctonRad]

Originally Posted by Leroy321

Im not sure if anyone has said it yet so I’m going to ask but does anyone know what’s going in the old money mart location beside battery house? They have a red sign going up but there’s no letters on it yet, when I drove by I took a quick glimpse through the window it looks like it’s a fast food restaurant with a red interior also.

I just saw this post now - it was just a rebranding. The new Money Mart signage is up now.

[MonctonRad]

Apparently the IMAX screen was installed in Cinema 2 of the Dieppe Cineplex today. If everything goes well, the first IMAX screening in NB will be on November 8th.

No word yet as to what the first IMAX movie will be.

[EnvisionSaintJohn]

Originally Posted by MonctonRad

Apparently the IMAX screen was installed in Cinema 2 of the Dieppe Cineplex today. If everything goes well, the first IMAX screening in NB will be on November 8th.

No word yet as to what the first IMAX movie will be.

Sounds like it's not a major upgrade size wise then, and very unlikely to be accompanied by laser projection. Can't say that's surprising, but still a tad disappointing.

So, if New Brunswick is ever going to get a legit IMAX, it will most likely be a stand alone facility in SJ, Fredericton, or Moncton... or tacked onto the Science Centre in Moncton.

Hopefully one day.

[AGGUS]

Radio spot this AM for the quiz give away on 91.9 has changed from Pita Pit to Noodle Box for a short while. The owners of Pita Pit are the same as the owners of Noodle Box, and they shared an opening date of Nov 7th.

[MonctonRad]

Originally Posted by AGGUS

Radio spot this AM for the quiz give away on 91.9 has changed from Pita Pit to Noodle Box for a short while. The owners of Pita Pit are the same as the owners of Noodle Box, and they shared an opening date of Nov 7th.

Looks like work is progressing at a brisk pace on the interior. Signage still has to change.

[josh_cat_eyes]

Originally Posted by AGGUS

Radio spot this AM for the quiz give away on 91.9 has changed from Pita Pit to Noodle Box for a short while. The owners of Pita Pit are the same as the owners of Noodle Box, and they shared an opening date of Nov 7th.

I won the quiz last year but the card I got had nothing on it. I went in and they said they would send it off to management but they never did. I never bothered following up, it was to much of a hassle for me. Put me off though, I haven’t eaten there since.

[DyAm00394]

Posted on Retail Talk and Share NB:

“Champlain Place has been sold to Montreal headquartered Westcliff, a privately owned real estate company as per All NB News.

Effective today, Cadillac Fairview is no longer the owner of Champlain Place. No financial details have been released on this deal”.

https://westcliff.ca

[MonctonRad]

Originally Posted by DyAm00394

Posted on Retail Talk and Share NB:

“Champlain Place has been sold to Montreal headquartered Westcliff, a privately owned real estate company as per All NB News.

Effective today, Cadillac Fairview is no longer the owner of Champlain Place. No financial details have been released on this deal”.

This is huge news. If allNB is reporting it, it most likely is true.

https://westcliff.ca/en/

Their portfolio includes 21 shopping centres, but almost all of them are lower quality centres in smaller regional communities.

https://westcliff.ca/en/building-type/shopping-centre/

What does this mean for the future of Champlain Place (no more CF)?

I fear the quality of tenants will go down, unless Champlain Place is an attempt by Westcliff to improve the quality of their portfolio.

As I mentioned recently, I had been made aware of several higher end retailers interested in coming to Champlain Place, and, were either in negotiations, or preparing for negotiations with CF. One of these in particular would have been a real coup for the shopping mall. What will happen now???

[DyAm00394]

Originally Posted by MonctonRad

This is huge news. If allNB is reporting it, it most likely is true.

https://westcliff.ca/en/

Their portfolio includes 21 shopping centres, but almost all of them are lower quality centres in smaller regional communities.

https://westcliff.ca/en/building-type/shopping-centre/

What does this mean for the future of Champlain Place (no more CF)?

I fear the quality of tenants will go down, unless Champlain Place is an attempt by Westcliff to improve the quality of their portfolio.

As I mentioned recently, I had been made aware of several higher end retailers interested in coming to Champlain Place, and, were either in negotiations, or preparing for negotiations with CF. One of these in particular would have been a real coup for the shopping mall. What will happen now???

Found an official press release from Westcliff about the acquisition, confirming this news: https://westcliff.ca/en/press-release/we...-leading-super-regional-shopping-center/

Only time will tell what will happen as a result of the change in ownership.

[bridgeoftea]

Originally Posted by MonctonRad

This is huge news. If allNB is reporting it, it most likely is true.

https://westcliff.ca/en/

Their portfolio includes 21 shopping centres, but almost all of them are lower quality centres in smaller regional communities.

https://westcliff.ca/en/building-type/shopping-centre/

What does this mean for the future of Champlain Place (no more CF)?

I fear the quality of tenants will go down, unless Champlain Place is an attempt by Westcliff to improve the quality of their portfolio.

As I mentioned recently, I had been made aware of several higher end retailers interested in coming to Champlain Place, and, were either in negotiations, or preparing for negotiations with CF. One of these in particular would have been a real coup for the shopping mall. What will happen now???

Honestly that's a shame. Was hoping to see CF keep progressing to include higher end stores. Saves the drive to Quebec City or Halifax when living in SJ.

[MonctonRad]

“Champlain Place perfectly aligns with Westcliff’s strategy, marking our commitment to high-caliber assets in key growth markets. With impressive sales nearing 800$ per square foot and an outstanding roster of renowned tenants, this property embodies the quality and dynamism we seek to bring into our portfolio.”

So, it does sound like Westcliff is attempting to up their game.

They however probably do not have the clout, or the connections of CF in terms of drawing in or attracting top quality retailers. What will this mean for the future direction of the mall?

I hope Westcliff will be more flexible with rents. I gather dealing with CF was a nightmare for tenants.

[Taeolas]

Hopefully the Moncton Market will be enough to keep luring those chains in. Champlain Place is THE destination mall in NB, and its cachement is approaching 1M people between NB, PEI and the closer parts of NS. So landing a berth at Champlain Place regardless of the owner would probably be a goal.

Still, the owners would need to make sure Champlain Place keeps its reputation and standards fairly high to make it appealable; especially if they don't have a portfolio that gives them experience working with those types of tenants.

I wonder what it means for SJ and Freddy? Their malls are owned by Primaris. I wonder if WestCliff might be kicking the tires to get the trifecta reassembled again, or if they only wanted Moncton.

Back to Champlain Place, how has the TD Centre been working for it since Covid? Is it still the boon they were expecting it to be, or is it busting out? I'm wondering if Westcliff might be looking to restore that space to commercial purposes if they get the chance (and have clients lining up wanting room)

[DyAm00394]

Originally Posted by Taeolas

I wonder what it means for SJ and Freddy? Their malls are owned by Primaris. I wonder if WestCliff might be kicking the tires to get the trifecta reassembled again, or if they only wanted Moncton.

McAllister Place is for sale, has been since this past June. They are asking $75 million for it. Would be interesting if WestCliff bought it as well, if not them then hopefully a good company buys it and makes good investments in the mall. As part of the sales pitch, there are plans for over 500+ high and medium density residential units on 11-acres portion of the property.

Link to listing: https://property.jll.com/en-ca/listings/mcallister-place-saint-john-nb-519-westmorland-road

[MonctonRad]

Originally Posted by Taeolas

Back to Champlain Place, how has the TD Centre been working for it since Covid? Is it still the boon they were expecting it to be, or is it busting out? I'm wondering if Westcliff might be looking to restore that space to commercial purposes if they get the chance (and have clients lining up wanting room)

Workers are starting to come back to the banking centre after the pandemic. The parking lot is noticeably fuller. As for a "boon" for the mall from having 1200 well paid hungry office workers in the building, I Honestly don't think it made much of a difference.

As for repurposing the TD Banking Centre for more retail, I'm sure the bank has a long term ironclad lease.

[Taeolas]

Even Ironclad leases can be negotiated, especially if both parties want out of it (or are ambivalent about it) for various reasons.

If Westcliff wants more retail space in a prominent spot on the mall property, and TD wants a smaller office space, even after luring/forcing people back to the office, then they could always negotiate an exit plan before it naturally expires. It's not likely, but it's not entirely impossible either.