The Metro Vancouver Retail Thread

[connect2source]

Details and renderings on the new Prada flagship at Alberni and Thurlow as per Retail-Insider:

http://www.retail-insider.com/retail-insider/2016/2/prada-vancouver

[officedweller]

Leon's Furniture takes over eight leases from Sears, including four in B.C.
http://www.news1130.com/2016/02/23/leons...leases-from-sears-including-four-in-b-c/

Leon's taking over 4 BC Sears Home Store locations - opening in September.
The four B.C. locations are in Abbotsford, Langley, Richmond and Victoria.

[officedweller]

Pic by me today - looks like Holt Renfrew's expansion is underway:

[Vin]

Originally Posted by officedweller

Leon's Furniture takes over eight leases from Sears, including four in B.C.
http://www.news1130.com/2016/02/23/leons...leases-from-sears-including-four-in-b-c/

Leon's taking over 4 BC Sears Home Store locations - opening in September.
The four B.C. locations are in Abbotsford, Langley, Richmond and Victoria.

And none in Vancouver, eh?

[officedweller]

There aren't any Sears Home stores in Vancouver.
(and no Sears stores at all, come to think of it).

Leon's owns The Brick - and there's an "Urban Brick" on Granville St.

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

Wal-mart opens on Feb 25th - Surrey Central City and North Delta:

http://www.thenownewspaper.com/business/369732121.html

[squeezied]

Originally Posted by Vin

And none in Vancouver, eh?

Blame the viewcones.

[connect2source]

Originally Posted by officedweller

Pic by me today - looks like Holt Renfrew's expansion is underway:

Wonder if they'll be changing the facade to match the white Holt's facades on Granville and Dunsmuir.

[Vin]

Originally Posted by officedweller

There aren't any Sears Home stores in Vancouver.
(and no Sears stores at all, come to think of it).

Leon's owns The Brick - and there's an "Urban Brick" on Granville St.

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

Wal-mart opens on Feb 25th - Surrey Central City and North Delta:

http://www.thenownewspaper.com/business/369732121.html

Harder to find larger format stores for a lot of businesses in Vancouver now. Available spaces are either facing stiffer competition or getting rater old. Time for some major renewal.

Originally Posted by squeezied

Blame the viewcones.

Don't be silly, blame a lack of retail spaces in Vancouver. There are plenty other things to blame viewcones for, and your incessant sarcasms are duly noted.

[officedweller]

Originally Posted by Vin

Harder to find larger format stores for a lot of businesses in Vancouver now. Available spaces are either facing stiffer competition or getting rater old. Time for some major renewal.

Yet, despite that, Telus Garden downsized its retail spaces in the condo podium and converted the upper floors of the podium to office space from retail! (Pretty disappointing).

Also interesting to note that the Globe & Mail reported that the Sears Home leases are being assigned without any material payment - i.e. the big box lease market is so weak (following Target, Future Shop closures) that there was no "value" to the lease. Sears' only benefit was assigning its obligations under the lease to Leon's (recall that Sears sold back department store leases to Cadillac Fairview for monetary payment).

Originally Posted by connect2source

Wonder if they'll be changing the facade to match the white Holt's facades on Granville and Dunsmuir.

I would expect so.
I wonder what will happen to the heritage facade shown?
It was previously on the Granville side and was already relocated once for the Holt's renovations.

[squeezied]

Originally Posted by Vin

Don't be silly, blame a lack of retail spaces in Vancouver. There are plenty other things to blame viewcones for, and your incessant sarcasms are duly noted.

Lack of big box retail in Vancouver? Vancouver will do fine with less of those. Good to know that you advocate for more of those, or do you just like to take jabs at Vancouver at every opportunity?

[Vin]

Originally Posted by squeezied

Lack of big box retail in Vancouver? Vancouver will do fine with less of those. Good to know that you advocate for more of those, or do you just like to take jabs at Vancouver at every opportunity?

Ohh, in fact, certain folks can even do fine with none of those: no malls, no luxury shops, no Pacific Centre. Back to the good old days of just shopping at moms and pops corner stores. That's just them, and I'm not them. Don't be hypersensitive about criticisms of Vancouver, I've lived here forever and only want to see nice things happening here, although it could be from my perspective.

[Vin]

The Prada Store on Alberni is being revealed as we speak......

Originally Posted by officedweller

Yet, despite that, Telus Garden downsized its retail spaces in the condo podium and converted the upper floors of the podium to office space from retail! (Pretty disappointing).

Also interesting to note that the Globe & Mail reported that the Sears Home leases are being assigned without any material payment - i.e. the big box lease market is so weak (following Target, Future Shop closures) that there was no "value" to the lease. Sears' only benefit was assigning its obligations under the lease to Leon's (recall that Sears sold back department store leases to Cadillac Fairview for monetary payment).

Regarding Telus Garden retail, yeah that was very disappointing, as I was pretty sure that space on the second floor would easily be taken up. Indigo/Chapters is still looking for a bigger space. Other department stores like Saks and Simons, as well as clothing retail giants like Uniglo are also looking into opening up downtown, but they can't seem to find suitable retail spaces as well. As per your saying that big box retail market is weak, I think it really depends on the location. Hot spots like downtown and immediate surroundings with high population densities, Metrotown, and other town centres will always enjoy high take-ups.

[officedweller]

Originally Posted by Vin

As per your saying that big box retail market is weak, I think it really depends on the location. Hot spots like downtown and immediate surroundings with high population densities, Metrotown, and other town centres will always enjoy high take-ups.

.. yeah, just in the suburbs at malls where others have left big swaths of vacant space.

[jollyburger]

I doubt any clothing retailer would want to be stuck in the second floor of Telus's development. Sure Uniqlo could pull people in there, but they could also pull people with a store on East Hastings Street.

[whatnext]

Getting away from the notion that all retail discussion has to be geared to stores catering to label slaves...

The local news had a story about how the so-called Punjabi Market retail area at Main and 49th is dying. Indeed when I've driven by at least half the storefronts appeared papered over. Like everyone else their customers are being pushed out of Vancouver by ridiculous housing prices.

[trofirhen]

Originally Posted by whatnext

Getting away from the notion that all retail discussion has to be geared to stores catering to label slaves...

The local news had a story about how the so-called Punjabi Market retail area at Main and 49th is dying. Indeed when I've driven by at least half the storefronts appeared papered over. Like everyone else their customers are being pushed out of Vancouver by ridiculous housing prices.

Thar's a real shame, not only for the loss of East Indian product range, but also the neighbourhood itself. It was (and still is, I hope) a symbol of multicultural Vancouver.

[SpongeG]

fraser street sems to be much more lively and has more indian shops than main these days

[trofirhen]

Originally Posted by SpongeG

fraser street sems to be much more lively and has more indian shops than main these days

Hey, so maybe it's not dying out after all, just shifting locus. Hope that's it.

[officedweller]

Vancouver's Alberni Street transforms into upscale retail hotspot

Read more: http://www.vancouversun.com/vancouver+al...otspot/11747944/story.html#ixzz41Ofz0tbt

[Vin]

Originally Posted by jollyburger

I doubt any clothing retailer would want to be stuck in the second floor of Telus's development. Sure Uniqlo could pull people in there, but they could also pull people with a store on East Hastings Street.

East Hastings are you kidding? Haha it will end up like Army and Navy.