The Metro Vancouver Retail Thread

[Vin]

Originally Posted by YYCguys

Eau Claire market is going to be demolished and the land redeveloped for a mixed use plan approved and underway, so no use in reinventing the building.

It's to be demolished because of lousy business, and not the other way round. It should've been revamped decades ago to garner better business. They would never replace a popular tourist destination the likes of Granville Island public market.

[officedweller]

Brentwood South End anchors:

Basement- Grocery store/London Drugs?

http://shapeproperties.com/leasing/#/amazing-brentwood/plans

Level 1 -Fashion Anchor

http://shapeproperties.com/leasing/assets/projects/brentwood/pdf/brentwood-brochure.pdf

Level 2 - Anchor / Food Hall

http://shapeproperties.com/leasing/#/amazing-brentwood/plans

[LeftCoaster]

Originally Posted by officedweller

Holt Renfew for Brentwood?

From the new Amazing Brentwood Leasing brochure mall floor plan.

The "Apartment" is HR, isn't it?

New mall plan (Level 1) showing "Phase III" as the south end of the mall
with an office tower, "Fashion Anchor", tower above it and the tower at the corner of Beta Ave.
The north anchor still says "Department Store" (can anyone tell by the internal layout which department store it is?)

The brochure certainly depicts a Holt in the north end, but that's what it is made to do. Shape is fishing for Holts to join the development but that's all this is, an aspirational brochure intended to get their attention. If a deal was made you'd know about it.

Whether Holts will bite or not remains to be seen. I'd say it's not a good location for them, but they went to Square One, which is an awful location for them, so they've made weird choices in the past.

I think Holts would be much better off opening a second store in Richmond. It would cannibalize less of their existing clientele and is in an area with much more HNW shoppers.

[Tetsuo]

I'm guessing the 3 big luxury brands are all jockeying around
Nordstrom Richmond
Saks Oakridge? (instead of going downtown)
Brentwood Holt (could position to capture HNW from north shore, Burnaby, Coqutilam)

[officedweller]

That distribution makes sense to me.

Nordstrom at Richmond Centre playing off the CF connection (they have located at multiple CF centres).

Saks with Hudson's Bay at Oakridge (playing off Hudson's Bay's existing lease and the QuadReal's need to renegotiate).

Holt Renfrew - Not at either of those and I'd guess they'd steer clear of Metropolis at Metrotown after their Square One issues (both are wide spectrum malls catering from low end (Wal-Mart / T&T) and up without an established high end). City of Lougheed is not poised to be a high end centre. Shape's deal with L Catterton could be the tipping point for high end critical mass. This all assumes HR wants to open a 2nd store locally.

**********

WRT the plans as a fishing expedition, if that's the case, it's odd though that Shape would publicly use the names of all of those high end brands on the department store layout without their consent. i.e. legal issues could arise.

[officedweller]

FAO Schwarz is opening pop-ups across Canada in Hudson's Bay stores this holiday season
http://dailyhive.com/vancouver/the-bay-fao-schwarz-christmas-pop-up

[SpongeG]

Originally Posted by officedweller

That distribution makes sense to me.

Nordstrom at Richmond Centre playing off the CF connection (they have located at multiple CF centres).

Saks with Hudson's Bay at Oakridge (playing off Hudson's Bay's existing lease and the QuadReal's need to renegotiate).

Holt Renfrew - Not at either of those and I'd guess they'd steer clear of Metropolis at Metrotown after their Square One issues (both are wide spectrum malls catering from low end (Wal-Mart / T&T) and up without an established high end). City of Lougheed is not poised to be a high end centre. Shape's deal with L Catterton could be the tipping point for high end critical mass. This all assumes HR wants to open a 2nd store locally.

**********

WRT the plans as a fishing expedition, if that's the case, it's odd though that Shape would publicly use the names of all of those high end brands on the department store layout without their consent. i.e. legal issues could arise.

but isn't the LV group handling the leasing for shape?

[officedweller]

Originally Posted by SpongeG

looks likea Holt Renfrew with instore shops for Chanel, Dior, Balenciaga, Celine, Tiffany, Miu Miu, Bvlgari, Gucci, Fendi, Cartier. They have those downtown in store.

I meant permission to use the names of the in-store shops on the department store plan.
Are the above all LV bands?

[SpongeG]

No. Chanel and Gucci are separate companies. Louis Vuitton is on an expansion mode right now as is Gucci. I just read an article the other day about that, apparently millenials are loving anything Gucci and are willing to shell out the $$ for high end things and the main choice of theirs is Gucci and LV.

Last time I walked through gucci downtown there must have been a dozen or more teens and 20 somethings trying on Gucci sneakers. In Melbourne, so many youngsters were wearing Gucci sneakers it was quite common. I don't know how anyone can spend $1200 on sneakers but they are.

Louis Vuitton is pulling out of Holt Renfrew in Edmonton and opening a new stand-alone store in West Edmonton Mall and Gucci is rumoured to be looking at opening its 3rd Canadian stand-alone store in Edmonton according to Retail Insider.

[officedweller]

I think RI said Holt Renfrew might close the Edmonton store since they are moving towards larger (100k sq ft) stores (i.e. closed Ottawa; closed Sherway Gardens, opened Square One)

[SpongeG]

Yea probably why LV is moving to WEM. LV is also opening in Chinook Centre in Calgary, It wasn't clear if they would shut down their concession in Holt Renfrew though there.

[officedweller]

Oh well, no mention of additional space for a Saks...

HBC Agrees to Amend Hudson's Bay Lease at Oakridge Centre

TORONTO & NEW YORK — HBC (TSX: HBC) today announced that it has entered into an amendment to its lease for the Hudson’s Bay location at Oakridge Centre in Vancouver, BC. In exchange for certain concessions and approvals related to the redevelopment of Oakridge Centre, HBC has received $151.5 million, which has been used to repay borrowings on the Company’s revolving credit facility. As part of the amendment, HBC agreed to relocate Hudson’s Bay to a new location within the redeveloped Oakridge Centre, where it will remain a retail anchor and pay similar rent as its existing lease. Construction of the new location is expected to be completed in 2022, at which time HBC will receive an additional $21 million to outfit the new store, which is expected to open in 2023. The current location is expected to remain open and serve customers throughout the redevelopment.

...

https://business.financialpost.com/pmn/p...end-hudsons-bay-lease-at-oakridge-centre

[officedweller]

Jump at the pump expected as Washington state refineries cut output
https://www.citynews1130.com/2018/10/10/...-washington-state-refineries-cut-output/

[whatnext]

The Wilson family parts ways with Kit & Ace:
https://www.bnnbloomberg.ca/kit-and-ace-parts-ways-with-wilson-family-founders-1.1150430

[SpongeG]

there is a kit & ace pop up store coming to metrotown.

[Sheba]

Metropolis store openings

Walmart’s new Supercentre store location at Metropolis at Metrotown is now one of the largest businesses at the Burnaby shopping mall.

The multinational retailer will be opening its newest store in Metro Vancouver this morning, Thursday, October 11, within a 117,000-sq-ft space formerly occupied by Target in the east wing.

Walmart Supercentre can be accessed from both inside the mall and exterior entrances facing Central Boulevard, near SkyTrain’s Metrotown Station.

Although the store soft opens today, its official grand opening celebrations are scheduled between 11 am and 3 pm on Saturday, October 13.

...

Another major, but physically small, store opening this weekend will be Sweet Jesus, a popular Ontario-based ice cream chain. Its location at the shopping centre, the chain’s first BC store, opens on Friday, October 12.

And by the end of this month, MUJI’s barely one-year-old store location at Metropolis at Metrotown will reopen with a large floor area expansion – growing from 7,700-sq-ft to 12,305-sq-ft, making it the second largest MUJI location in Canada.

[officedweller]

Didn't realize that the Garden City Wal-Mart was 163,0000 sq ft
- no wonder it feels vast and empty, especially upstairs.
The Garden City location has a crazy selection of Asian foods though (for a Wal-Mart).

***********

Metropolis store from Burnaby Now.

The signage looks too understated to me - should be bigger.


The new Walmart Supercentre is now open at Metropolis at Metrotown
https://www.burnabynow.com/business/the-...en-at-metropolis-at-metrotown-1.23460388


https://www.burnabynow.com/business/the-...en-at-metropolis-at-metrotown-1.23460388



I guess the Target had a narrow entrance too:


https://abandonedtargetsofcanada.tumblr....ned-targets-of-canada-117-the-metropolis

[officedweller]

In side the Metropolis store -

Looks cramped - but remember it was an old Woodward's location that was built from the bones of the old Sears warehouse.

https://604now.com/metrotown-walmart-supercentre-photos/

[Vin]

With the Walmart opened in Metropolis, it seems that vacancy is virtually 0%. So where's all the doom-and-gloom predictions of malls failing?

[Sheba]

Originally Posted by Vin

With the Walmart opened in Metropolis, it seems that vacancy is virtually 0%. So where's all the doom-and-gloom predictions of malls failing?

That's mostly been in the US, where they overbuilt malls / retail.