The Metro Vancouver Retail Thread - Page 913

Changing City · #**18241** Posted **Dec 3, 2024, 12:23 AM**

Quote:

Originally Posted by jollyburger

I wonder if they could get close to that $675 million dollar figure that was floated when they wanted to sell the downtown location.

The current assessed value of the Bay building is $198m, $166m of it land value.

whatnext · #**18242** Posted **Dec 3, 2024, 1:40 AM**

Quote:

Originally Posted by jollyburger

I wonder if they could get close to that $675 million dollar figure that was floated when they wanted to sell the downtown location.

You mean the mystery Asian buyer in 2018 didn't go through with the sale (before their property market imploded)?

officedweller · #**18243** Posted **Dec 4, 2024, 2:38 AM**

Quote:

Originally Posted by whatnext

No mentioned here is that HBC claims that since they won't be going ahead with Oakridge they'll be reinvesting in the downtown flagship:

...Asked what prompted the change of plans, HBC spokesperson Tiffany Bourré said in an email that the company continuously looks at opportunities to optimize its real estate portfolio.

She says the company instead plans to serve the Vancouver community by investing in and redeveloping its flagship location on Granville Street in downtown Vancouver....

https://www.biv.com/news/real-estate/hbc...-park-redevelopment-in-vancouver-9877537

The office redevelopment project would have seen the temporary closure of the downtown store and a smaller Hudson's Bay store after completion.

So can the statement be interpreted as "given that the office redevelopment dead, we'll be renovating the existing store (and maybe leasing out the top floors for office space, as was planned years ago)"

jollyburger · #**18244** Posted **Dec 4, 2024, 4:11 AM**

The whole store redevelopment company seems to have gone silent for the past year or two.

Vin · #**18245** Posted **Dec 5, 2024, 9:29 PM**

Quote:

Originally Posted by jollyburger

There's one empty CRU for 950 Granville. The current retail list:

Doner Kebab
Pizza Garden
Rice & Noodle
Taco Bell
KFC

https://marcusmillichap.ca/property-sear...Fc2b2qf5r5q%2Fretail%2Fpage%2F2%23803857

Interesting that all the units are taken up by F&B/fastfood establishments. I guess the saying "if you build it, they will come" still works here.

Vin · #**18246** Posted **Dec 5, 2024, 9:32 PM**

Quote:

Originally Posted by officedweller

So can the statement be interpreted as "given that the office redevelopment dead, we'll be renovating the existing store (and maybe leasing out the top floors for office space, as was planned years ago)"

This thought makes me happy.

I am very opposed to redeveloping the heritage building, and hopefully talk of major renovation is the discourse they will take.

gaviscon · #**18247** Posted **Dec 16, 2024, 10:03 PM**

All you can eat K-BBQ, Porker Face, opened in Brentwood on Nov 29, replacing Sooda.

$32 is quite a steal for an all-you-can-eat kbbq place.
My friend who works there says the meat is Sous vide roasted as well

https://www.instagram.com/porkerface_official/p/DCF0Zu-SlSa/?hl=en

SpongeG · #**18248** Posted **Dec 17, 2024, 2:46 AM**

did Sooda move into the old R&D White Spot space inside Brentwood?

jollyburger · #**18249** Posted **Dec 17, 2024, 3:03 AM**

Yes. Rivian closed down as well.

jollyburger · #**18250** Posted **Dec 20, 2024, 9:09 PM**

Possible design of the new Chanel boutique at Oakridge Park

https://www.linkedin.com/posts/rwc-syste...rkmall-activity-7246927024894664705-KEBR

gaviscon · #**18251** Posted **Dec 22, 2024, 5:40 PM**

S.Korean pastry chain Paris Baguette opened up on Alberni yesterday

https://www.google.com/search?q=paris+ba...Slk5WEc1U1Fici1ybzJieGhOVi11WWV3LXZFRU43

officedweller · #**18252** Posted **Dec 23, 2024, 11:53 AM**

The "How to" sign doesn't require payment!

************

It’s been a tough year for The Bay in Vancouver. Why 2025 likely won’t be any better
https://vancouversun.com/news/the-bay-vancouver-struggles

SpongeG · #**18253** Posted **Dec 23, 2024, 3:03 PM**

I was at the Bay in Coquitlam centre yesterday and the Guildford store, Both stores lacked merch. Coquitlam had almost no watches, the cases were mostly empty, less than 10 watches in the whole section, instead they had signs in the cases that said to go online and order. THe fragrances and cosmetics area were also pretty empty feeling but they placed gift sets around where they could. Overall both stores had sparse mech that was arranged to look fuller. Not looking good.

connect2source · #**18254** Posted **Dec 23, 2024, 4:02 PM**

Death by a thousand cuts!

Decided to give the downtown store a visit after many months only to be faced with broken escalators, once again, beginning on the main floor. I gave up, would rather say goodbye to The Bay now than witness the painful decline any longer. Also noticed the branded Levi's store on the lower levels has closed.

officedweller · #**18255** Posted **Dec 24, 2024, 12:33 AM**

Quote:

Originally Posted by SpongeG

..., instead they had signs in the cases that said to go online and order. ...

Consumers' Distributing!

Sheba · #**18256** Posted **Jan 3, 2025, 12:24 AM**

Toys "R" Us Canada closing 5 stores, expand HMV and add play spaces to some shops

Quote:

Toys "R" Us Canada says it is closing five Ontario stores and revamping several others as it works to "optimize" its business.

...

On top of shuttering some locations, the brand says it is also "rationalizing" its inventory levels to make room for other concepts within its stores.

Some locations will see an expanded, stand-alone footprint for entertainment banner HMV, which started appearing in the toy store last year and is also run by Toys "R" Us owner Putman Investments.

Other stores will be remodelled to host a Wonderlab, a concept Toys "R" Us Canada has been testing in Burlington, Ont., that includes an indoor play structure and space for arts and crafts and sensory activities.

I wonder if they're limiting it to Ontario or just starting there and then expanding it to some of their other stores across Canada.

NewfBC · #**18257** Posted **Jan 3, 2025, 1:56 AM**

Nordstrom building in downtown Vancouver to be fully demolished for redevelopment

https://dailyhive.com/vancouver/nordstro...demolition-redevelopment#google_vignette

Wow!

Ron.

NewfBC · #**18258** Posted **Jan 3, 2025, 2:31 AM**

Quote:

Originally Posted by NewfBC

Nordstrom building in downtown Vancouver to be fully demolished for redevelopment

https://dailyhive.com/vancouver/nordstro...demolition-redevelopment#google_vignette

Wow!

Ron.

Hmm.. they took this story offline and replaced it with one that includes just the hotel...

https://dailyhive.com/vancouver/four-seasons-hotel-vancouver-tower-demolition-redevelopment

See an archived story here...
https://skyscraperpage.com/forum/showpost.php?p=10341811&postcount=892

Ron.

SpongeG · #**18259** Posted **Jan 4, 2025, 1:47 AM**

I've been to 3 Bay stores in the last week and all 3 of them, Guildford, Coquitlam Centre and Metrotown have stopped selling men's socks. Metrotown did have a few pairs left on clearance. The Zellers seems to be a big fail, the merchandise doesn't seem to get updated much. The ANKO brand just opened a store in Manila recently.

whatnext · #**18260** Posted **Jan 4, 2025, 3:35 AM**

Quote:

Originally Posted by jollyburger

Possible design of the new Chanel boutique at Oakridge Park

https://www.linkedin.com/posts/rwc-syste...rkmall-activity-7246927024894664705-KEBR

I’ll be very curious as to how the mall does. At a couple parties this holiday season chatting with people who worked in luxury retail. Sales had been tepid mostly blamed on the decline of China-money customers.