Quote:
Originally Posted by MonctonRad
Rents have gone up substantially at Champlain Place in Moncton too, although this was part of a campaign by Cadillac Fairview to drive the remaining local merchants out of the mall to make room for national high end retailers like Coach, Sephora, Swarovski, Fossil, Victoria's Secret etc.
I guess it's all about maximizing revenue per square foot....... |
Seems to be a trend all over the place. Here in Gatineau, Oxford has bought our largest mall (Les Promenades) and has forced out numerous local retailers for this same reason, and has undertaken a huge reno as well.
These smaller retailers have complained in the media, but I wonder if this might not be an opportunity for our main streets - if local retailers (who initially flocked to the mall because that's where the people were) are forced out of the big malls, will they return to main streets, which could become THE place for specialized, unique local retail again?
And the malls will then be home to the exact same retail that you can find in any city anywhere in the world.
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