The Metro Vancouver Retail Thread

[Tetsuo]

The Pizza Pizza local expansion (much to LeftCoaster's delight) has continued.

Two more have now open, Lougheed and Willingdon, same strip mall as FatBurger, and 152nd & 24th Ave in White Rock.

This along with the New West sixth st location

[SpongeG]

West Vancouver Kerrisdale Cameras location closing due to building's structural problem
KEVIN GRIFFIN Updated: March 11, 2019

Kerrisdale Cameras on Marine Drive in West Vancouver is closing its doors and consolidating with its branch on Lonsdale in North Vancouver.

The last day for the Ambleside store is Saturday, March 23, said store manager Derek Bell.

He said the closure of the store at 1534 Marine Drive is because of a structural problem with the building.

The 1500-block of Marine Drive has had flooding issues for years, he said. It is particularly bad when a very high tide, or King Tide, occurs at the same time as a heavy rain storm. The combination can lead to flooding in the alley behind the store and water seeping into the store’s parking lot.

“There has been damage done to the concrete slab in the crawl space underneath the building,” he said.

...

https://vancouversun.com/news/local-news...sing-due-to-buildings-structural-problem

[NewfBC]

Miniso China is taking over Miniso Canada operations. Should put some stability in place for the stores and provide new Miniso branded inventory. They've been stocking a lot of 3rd party inventory in stores since their dispute with the head office late last year.



Ron.

[officedweller]

Cross posted from the crazy real estate price thread:

This Global news video about the Robson street redevelopment on the 600 block, at 1:27 says that
the former 7-Eleven across the street (soon to be cannabis store) was rumoured to have asked
for $56,000 per month in rent.
https://globalnews.ca/video/rd/1456182851969/?jwsource=em

[LeftCoaster]

Originally Posted by Tetsuo

The Pizza Pizza local expansion (much to LeftCoaster's delight) has continued.

Two more have now open, Lougheed and Willingdon, same strip mall as FatBurger, and 152nd & 24th Ave in White Rock.

This along with the New West sixth st location

Yuk

[whatnext]

Originally Posted by officedweller

Cross posted from the crazy real estate price thread:

This Global news video about the Robson street redevelopment on the 600 block, at 1:27 says that
the former 7-Eleven across the street (soon to be cannabis store) was rumoured to have asked
for $56,000 per month in rent.
https://globalnews.ca/video/rd/1456182851969/?jwsource=em

That would be a lot of Slurpees!

[bluefox]

Originally Posted by NewfBC

Miniso China is taking over Miniso Canada operations. Should put some stability in place for the stores and provide new Miniso branded inventory. They've been stocking a lot of 3rd party inventory in stores since their dispute with the head office late last year.

So can we finally shatter the illusion once and for all that this is a "Japanese lifestyle brand"?

[PeterAKer]

THINKA recently closed on Robson Street. I counted 9 Empty Spaces from Bute Street to Thurlow Street on Robson Street.

[retro_orange]

Originally Posted by PeterAKer

THINKA recently closed on Robson Street. I counted 9 Empty Spaces from Bute Street to Thurlow Street on Robson Street.

Basically any retail building that has been flipped in the past 5 or so years will have a high lease rate to cover the cost paid for the over inflated land value; which not many retailers are willing to pay. I think we will see a lot of vacant retail space throughout the city for awhile yet unless some of these properties are foreclosed on and sold off for a more reasonable price and the new owners would justly reduce the lease rate as their overhead would be less. The buying power of people in Vancouver has also been greatly reduced in the past few years because more of their usable income is going towards rent instead of consuming at retail stores and restaurants.

[SpongeG]

Army & Navy closes West Hastings section as Vancouver discount store marks 2019 centennial

by Carlito Pablo on March 21st, 2019


The store’s West Hastings Street side has not been doing business for a number of days.
GOOGLE

One of Vancouver’s oldest retailers is celebrating its 100th anniversary this year.

Army & Navy has announced on social media that it is working on the “relaunch” of its “newly-renovated store” downtown at 36 West Cordova Street.

"2019 is all about celebrating Army & Navy’s 100th anniversary. I am thrilled to be honouring the business my Grandpa Sam started in 1919," president and CEO Jacqui Cohen said in a statement. "To mark the occasion I decided to create a better shopping experience for our customers by consolidating and revitalizing the Cordova Store."

"Army & Navy has been a viable business for a century because we’ve never forgotten who we are," she continued. "We take pride in serving all members of our community and are excited to welcome new customers to the Cordova Store."

The company has closed the West Hastings Street section of the store.

"As for the Hastings Street section, there are a lot of opportunities and I receive calls of inquiry every day," Cohen said. "There is particular interest from the creative economy but there is no imminent announcement. It’s nice to be so wanted."

...

https://www.straight.com/news/1217421/ar...ver-discount-store-marks-2019-centennial

[bc2mb]

strongly suspect that they decided to close the West Hastings side due to the ongoing and steadily worsening street disorder...

[Conrad Yablonski]

Originally Posted by bc2mb

strongly suspect that they decided to close the West Hastings side due to the ongoing and steadily worsening street disorder...

That's something of an oversimplification-not totally wrong though it's a horror show down there now.

[Vin]

Originally Posted by bc2mb

strongly suspect that they decided to close the West Hastings side due to the ongoing and steadily worsening street disorder...

That goes without saying. It's a gong show there. They can save so much on security funding and insurance money alone by just closing that section off. However I laud them for putting on such a brave face and contunue the business in the neighbourhood.

For a century-old store, it must be sad to see the area slide from a once beautiful high street of Vancouver to its current state.

[officedweller]

Apparently the Running Room on Cambie has closed and will be replaced by a pot shop.

[LeftCoaster]

Originally Posted by officedweller

Apparently the Running Room on Cambie has closed and will be replaced by a pot shop.

Haha talk about from one extreme to another.

[Jougho]

Kenneth Chan reported yesterday in the Daily Hive that the new owners of the Bentall Centre ar planning a major renovation for the 140,000 sq. ft. of retail there.

[rofina]

Originally Posted by Jougho

Kenneth Chan reported yesterday in the Daily Hive that the new owners of the Bentall Centre ar planning a major renovation for the 140,000 sq. ft. of retail there.

And that it has potential for a whole new tower on the site.

Seems like Blackrock is interested in maximising value.

I cannot wait to find out the haircut Anbang took from the $1.06 they paid for it.

[LeftCoaster]

Likely very little, the CRE market is still very strong. Though Anbang wasn't in a great position of needing to sell I think there were many suitors.

[officedweller]

From Granville twitter today:


Luxury retailer @Hermes_Paris adds a construction site panel to their new flagship location at Georgia & Burrard
https://twitter.com/GranvilleStreet

March 25th:


Updating the @Fluevog street sign at 870 Granville
https://twitter.com/GranvilleStreet

[jollyburger]

Originally Posted by rofina

And that it has potential for a whole new tower on the site.

Seems like Blackrock is interested in maximising value.

I cannot wait to find out the haircut Anbang took from the $1.06 they paid for it.

They mentioned 500,000 square feet so maybe another 30 storey tower? Or something more slim in the 40 range?

Any guesses on which parkade they would tear down? Thurlow side?