Quote:
Originally Posted by Harley613
I just carefully added up the brand new leasing floorplan:
http://www.primarisreit.com/system/f...pdf?1575998850
Place D'Orleans now has a retail GLA of 528,181 and that includes all of the latest changes such as the Dollarama move, the Aubanerie/Marks, the Food Court move etc.
That is compared to the current blurb on their leasing page that says 'With approximately 761,000 square feet of retail area, anchored by Hudson's Bay, The Bay Home Store, Goodlife Fitness and Sport Chek Supercentre, Place d’Orléans is one of the largest shopping centres in the Ottawa area. '
http://www.primarisreit.com/portfoli...lace-d-orleans
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Something I've always found odd about this mall. Place d'Orleans opened around 1980 as a very small mall(Only had a Dominion where Goodlife is and then the hallway between Goodlife and Sunrise Records. That was it). In '84 they built out the rest of the single-story hallways, then the Woolco/Walmart/Zellers/Target store in the late 80s, and finally the mall reached it's massive size in 1990 with The Bay(Formerly Eaton's) and 2-story section along with Vegas-style fountain. There wasn't just a lot of retail area, the hallways are very wide to handle big crowds and the food court was one of the largest in the region. You could get anything you could possibly want under the roof of Place d'Orleans. Instead of SUVs from local dealerships, the fountain area was used for actual celebrities to visit.
By this point, the parking facilities are also massive. I don't think they've ever had more than 25% of the spots filled even during the mall's heydey. What a waste of space. Although the surface lots near Farm Boy and the bus station are usually full, there's the under-utilized 2 story structure on the St. Joseph side, the underground garage, and the garage that was under Walmart/Zellers. The mall is also served by a large expressway interchange that never experiences congestion.
Fast forward to less than 10 years after the grand re-opening (Late 90s): Eaton's went bankrupt and The Bay took their space. The mall never fully leased out the original Bay store to retail. Vacancies in the smaller store spaces started adding up, and then the mall turned half the upstairs into a furniture store (Bay Home Store). In the early 00's they did away with the remaining upstairs corridor and that became a Sport Chek Supercentre.
In '05 Walmart left and the mall could never recreate the traffic Walmart brought in. After that, the surrounding retail areas began their downward spiral. Some other losses were the movie theater in Centrum and Loblaws. In the 00s, The Innes Rd. area and Trainyards also became new shopping destinations for the east end.
Now the upstairs is completely devoid of the main intention for the facility... shopping.
Recently, some malls in the region have expanded (Rideau, Bayshore) but most large malls are relatively stable (St. Laurent, Promenades, Billings, Carlingwood, Galeries). Yet Place has been shrinking and shrinking.
The point I am trying to make in this rambling post is that I believe the expansion of Place was badly planned and overly ambitious. The mall was only full for about 8 years. It's had an issue with vacancies ever since and has coped by essentially shrinking the mall bit by bit. I don't think high rents are the only reason and the decline started well before the Amazon age. I believe the decline was started by:
1. the mall being hard to access(not centrally located in the region, 174 no longer a provincial highway and Tenth Line no longer a planned inter-provincial link),
2. lack of shoppers (is Orleans big enough to support a large mall when Orleans residents can also go to malls in other parts of the city where most residents also work and hang out),
3. loss of anchors and many stores in Canada going out of business in general (unable to attract replacement for Eaton's, losing Walmart, and unable to fill the smaller store spaces),
4. retail activity in Orleans moving to Innes area (movie theatre, Loblaws, Walmart and Canadian Tire moving from the St. Joseph area. It's kind of inconvenient to drive to Place from neighborhoods along Innes. If you need to go to a store on Innes you will finish your errands on Innes).
Some people just believe the mall is cursed because the decor has a lot of illuminati symbols.
If I repeated anything already mentioned I'm sorry you read the whole thing