[Moncton] Retail Thread

[Nashe]

Originally Posted by habs33

Cabela’s Announces Plans for Moncton, New Brunswick, Canada, Store
http://www.businesswire.com/news/home/20...ces-Plans-Moncton-Brunswick-Canada-Store

Interesting, indeed. My dad is gonna love this. Definitely a nice, unique addition that will serve the rural clientele of NB (and the rest of the maritimes, I guess) well.

[josh_cat_eyes]

Awesome news about Cabelas and Bass Pro Shops!! Maybe these announcements will make the market more intriguing for the Tanger Outlet Mall.

RioCan should buy the Mapleton Centre! Maybe having an experienced land owner would help get that place going.

[NBNYer]

Originally Posted by josh_cat_eyes

Awesome news about Cabelas and Bass Pro Shops!! Maybe these announcements will make the market more intriguing for the Tanger Outlet Mall.

RioCan should buy the Mapleton Centre! Maybe having an experienced land owner would help get that place going.

I think anyone would de a better job than Verdiroc in managing Mapleton centre. What a disaster that place is. I thought we would have seen a least a couple new stores set up before the holiday shopping season but I guess not. They must be losing a ton of money.


But yes, those announcements mean more out of town shoppers and that's great news for retail overall in Moncton.

[Berge]

Originally Posted by MonctonRad

Welcome to the forums Berge!

Thanks for the info.

Even if RioCan no longer owns Wheeler Park, that doesn't take away from the fact that they would be well acquainted with the Moncton market, and thus might still be favourably inclined to consider Moncton as a location for one of the Tanger factory outlet malls.

I am by no means saying that Tanger is definitely considering Moncton. In fact, it is not entirely certain that they are even considering a location in Atlantic Canada. if they were however, I think the two most obvious choices would be Moncton or Halifax. The recent announcements of new destination retailers like Cabela's and Bass Pro Shops should play into Moncton's favour as a Tanger outlet mall is also a destination retailer……..

Thanks for the welcome, this look like a very interesting forum with good info.

Regarding Riocan, it interesting that the larges Commercial property owner/manger in Canada does not have any properties in Moncton right now.

It does not however take away from Moncton's image as a "hub" for retailers, just an interesting fact.

[Ridgpoc]

The opening soon signs for Freshii Moncton will be put up tomorrow. Get ready folks!!! Freshii is coming to NB!

[MonctonRad]

Originally Posted by Ridgpoc

The opening soon signs for Freshii Moncton will be put up tomorrow. Get ready folks!!! Freshii is coming to NB!

So where exactly is it going??

[Ridgpoc]

Opening soon signs go up tomorrow for Freshii Moncton. Anticipated opening date is early January 2014!!!

Originally Posted by MonctonRad

That was my first thought too! A concept like this could fly in the downtown core quite well.

If you look at the freshii website, they are an international chain (apparently based in Toronto) with Canadian locations only in greater Toronto, Ottawa, Vancouver and Edmonton. How likely is it that Moncton would be on their radar right now? They do however franchise. I wonder how reliable Ridgpoc's sources are?

[Ridgpoc]

Originally Posted by MonctonRad

So where exactly is it going??

Old Terre Verde location next to Mexi's

[MonctonRad]

Originally Posted by Ridgpoc

Old Terre Verde location next to Mexi's

Excellent!!

Best place for it. I remember when Freshii was first rumoured, that we speculated that it might go there......

[Stirsnack]

Verodic - Are these the same people that goofed up the old beaver lumber property, and failed hotels to go downtown before Marriot finally came to be ? If so WHY would moncton agree to deal with them again. Their track record is terrible at best, and makes mapleton plaza make more sense. The Zig zag road to get in and out, that yellow thing for a sign and lack luster stores.
Rio-Can - please buy this place and make us our Guys "mall"

Just my 5 cents

[josh_cat_eyes]

I wonder if RioCan sold it in preparation for something else. Like to get some capital for a bigger project in the area. Like maybe where the new BPS is eventually going. It's also interesting to note CREIT now owns the Swiss Challet plaza on Champlain in Dieppe.

[Ammn_guy]

I was walking by the old DT pizza location(same block as the Freshii location) a few days ago, the door was open slightly and the interior was totally revamped, new tables etc with asian style lamps over each. Maybe the grill is still a go?

[Berge]

Originally Posted by josh_cat_eyes

I wonder if RioCan sold it in preparation for something else. Like to get some capital for a bigger project in the area. Like maybe where the new BPS is eventually going. It's also interesting to note CREIT now owns the Swiss Challet plaza on Champlain in Dieppe.

CREIT actually owned this property BEFORE they got Wheeler park., there only property in Moncton to my knowledge at that time. They had a more properties in Halifax, but this is a good sign that there expanding here.

Rio-can being so big, i'm not sure if a sale in Moncton of one property means a re-investment in the same city. Might be more of a "offer they could not refuse" type thing.

[josh_cat_eyes]

Originally Posted by Berge

CREIT actually owned this property BEFORE they got Wheeler park., there only property in Moncton to my knowledge at that time. They had a more properties in Halifax, but this is a good sign that there expanding here.

Rio-can being so big, i'm not sure if a sale in Moncton of one property means a re-investment in the same city. Might be more of a "offer they could not refuse" type thing.

That could be it too, but I figured, like you were saying, that its weird they don't have space in Moncton right now, so maybe something is afoot. In the next 12-18 months, I have a feeling that the retail landscape in Moncton is going to have some pretty big changes.

[NBNYer]

Originally Posted by josh_cat_eyes

In the next 12-18 months, I have a feeling that the retail landscape in Moncton is going to have some pretty big changes.

What makes you think that?

[josh_cat_eyes]

I'm just referring to the Capellas, Bass Pro Shops, Potential tanger outlet mall, the developments on Harrisville, developments in riverview and the @ highfield square. I feel like there is gonna be a lot of activity in the next year or two. Maybe not so much the first year but come 2016 a lot will have happened.

[cbujold]

Outlet Malls do not usually build in cities where they are in competition with regular stores. In the US they tend to be outside big cities where they can draw shoppers and yet do not compete. Think Kittery, North Conway, Merrimack, etc. Even in Canada they are outside Toronto or Ottawa municipalities. Can't see Moncton having outlets anytime soon. Not to sound negative, but the economy seems to be taking a turn for the worse with all the job losses in the province in the past few weeks. Two call centres have closed in St-John and some job losses in Moncton. The job market is very difficult right now and money is tight. The real estate market is also very slow and it is anticipated that this will continue for the next few years. It will interesting to see the retail numbers after the holidays.

[MonctonRad]

Quote from Retailer Insider

A retail analyst further notes that Sears Canada's dividend payouts point to an otherwise gloomy future for the retailer. Keith Howlett of Desjardins Securities mentioned to the Toronto Star that in the first half of 2013, Sears Canada generated a loss from its retailing operations before tax of $56.9 million, while its profit before tax from joint venture real estate investments was $5.8 million. Howlett expects Sears Canada to pay a special dividend to shareholders before the end of 2013, and he estimates it to be as high as $6/share given recent lease sell-backs.

We see these dividends as indicative of a company seeking to cash-out its real estate, rather than a company looking to reinvest profits in a turnaround.

We'll continue to report on the winding-down of Sears Canada, as our source speculates that the company may no longer be in operation by the Spring of 2014.

So, it appears that Sears is using the profit from the current sale of leaseholds for a special dividend to shareholders rather than reinvesting this cash into the company. If so, then it would appear that the company has already given up on the chain in Canada and that bankruptcy is probably inevitable. I think we should start speculating on which chain will take over the current Sears store at Champlain Place. The obvious choice would be the Bay, although several American department store chains could be in the mix as well……...

[MonctonRad]

And further to the above, if Sears does go south, this would also mean that the Sears Home store at Wheeler Park would close too.

It is therefore interesting to speculate that if the Bay does step into the Champlain Place space, would Home Outfitters move into the Sears Home store?

[micks5477]

Originally Posted by MonctonRad

The rumour is that Reitman's is moving over to that last vacant unit in the Northwest Centre, presumably to take advantage of being near Target and Marshall's.

Marshall's may open by March BTW.

I believe back on September 30, 2013 I made mention that two sources told me that Reitman's was moving into this location at the Northwest Centre.