The Metro Vancouver Retail Thread

[whatnext]

So sad to see The Mighty Oak at Columbia and 18th and its house go up for sale. That's the problem with runaway real estate prices, the money becomes too much to resist and cool, funky ideas get crowded out. I can't imagine anyone who can afford $3 million being interested in running a coffee shop:

http://www.clairrockel.com/ActiveListing...west-18th-avenue-vancouver-bc#viewdetail

[wrenegade]

Wow, I didn't even know that place existed. That's really cool. I hate to see those little commercial properties disappear. They add such an interesting element to the neighbourhoods they are in.

[csbvan]

Originally Posted by connect2source

Amazing news for Robson!! Will certainly help the ailing 1100 block. I assume they'll completely change and update the facade as well.

Robson Street is certainly adapting. The amount of new 'flagship' stores opening on the street (LuluLemon, Sephora, etc), or renovations to create flagships from preexisting spaces (Roots, Aritzia, etc) spells a new era for the strip. Alberni street has the high end, luxury chain market wrapped up, Gastown has the more interesting, locally owned clothing stores, and now Robson is essentially going to be overtaken by mid-range chain flagships.

[csbvan]

Originally Posted by whatnext

So sad to see The Mighty Oak at Columbia and 18th and its house go up for sale. That's the problem with runaway real estate prices, the money becomes too much to resist and cool, funky ideas get crowded out. I can't imagine anyone who can afford $3 million being interested in running a coffee shop:

http://www.clairrockel.com/ActiveListing...west-18th-avenue-vancouver-bc#viewdetail

Vancouver's dearth of retail within neighbourhoods and away from the main retail strips bothers me. That's why I love places like Mighty Oak, Arbutus Coffee or the Wilder Snail in Strathcona.

[Smooth]

Originally Posted by csbvan

Vancouver's dearth of retail within neighbourhoods and away from the main retail strips bothers me. That's why I love places like Mighty Oak, Arbutus Coffee or the Wilder Snail in Strathcona.

At $3M I can't see why the new owners of the property wouldn't want a mortgage helper in the commercial space. The owner of the house doesn't have to run the coffee shop on the property.

[djh]

Originally Posted by Smooth

At $3M I can't see why the new owners of the property wouldn't want a mortgage helper in the commercial space. The owner of the house doesn't have to run the coffee shop on the property.

That really is sad. I know the owners spend a lot of their time running that place, and they also have young kids. They've also said that even though the space makes them a living, it's not enough to pay them as well as hire staff to run it and let them do other things. So it kind of makes sense that they might make the jump and cash out now, allowing them to spend more time with their kids without having to slave away in a shop.

I really just hope that whoever takes over the shop does it right and with love. The previous incarnation of that space was terrible and didn't last long. John really put a lot of love into that place when they bought it - he even designed and crafted the inlays for each table, the details inside the space, the flooring, everything.

[memememe76]

Originally Posted by csbvan

Vancouver's dearth of retail within neighbourhoods and away from the main retail strips bothers me. That's why I love places like Mighty Oak, Arbutus Coffee or the Wilder Snail in Strathcona.

Also include Le Marché St.George, Caffe Cittadella, Take Five in Cloverdale, and End of the Line in North Van. Love all these places.

Too bad, but I certainly don't blame the owners.

[SFUVancouver]

Originally Posted by whatnext

So sad to see The Mighty Oak at Columbia and 18th and its house go up for sale. That's the problem with runaway real estate prices, the money becomes too much to resist and cool, funky ideas get crowded out. I can't imagine anyone who can afford $3 million being interested in running a coffee shop:

http://www.clairrockel.com/ActiveListing...west-18th-avenue-vancouver-bc#viewdetail

That's amazing! I grew up a block up at 19th and Columbia st and this used to be a small corner store! I learned about money and buying things here. It was a Chinese couple that owned the store and they got in trouble with the police once for selling loose single cigarettes to kids.

The house my family rented was torn down and rebuilt a few years ago. Here's the replacement property: https://www.google.ca/maps/@49.253866,-1...3m4!1e1!3m2!1sjWJ5OkcrgvqF34hfwUtCEw!2e0

[whatnext]

Originally Posted by djh

That really is sad. I know the owners spend a lot of their time running that place, and they also have young kids. They've also said that even though the space makes them a living, it's not enough to pay them as well as hire staff to run it and let them do other things. So it kind of makes sense that they might make the jump and cash out now, allowing them to spend more time with their kids without having to slave away in a shop.

I really just hope that whoever takes over the shop does it right and with love. The previous incarnation of that space was terrible and didn't last long. John really put a lot of love into that place when they bought it - he even designed and crafted the inlays for each table, the details inside the space, the flooring, everything.

I can't see them doing it any better than the current owners who have done an amazing job. John did all the carpentry inside, he can probably make way more money with that kind of skill.

I don't think anyone who can afford $3 million is going to need a mortgage helper. And with an extra wide 46' frontage, I wouldn't bet on buyers retaining the current house or commercial space. That my friends is what runaway real estate prices do. I don't blame anyone for selling, its like winning the lottery if you bought the property for $600k ten years ago. Take the cash and try the same thing in New West.

[cairnstone]

Originally Posted by SpongeG

the A&F in bellingham is always busy, and mostly asian canadians - weekends there ar elong line ups for the fitting rooms

With the dollar going to be poor for the next few years and also the huge imigraion upswing it would be a win win for A&F.

[mukmuk64]

Going to be a lot less marijuana dispensaries around soon...

http://politics.theglobeandmail.com/2015/04/22/vancouver-to-crack-down-on-marijuana-dispensaries/

Vancouver city council, spurred into action by public complaints about the explosive growth of marijuana dispensaries, is preparing to bring in tough new regulations and a $30,000 permit.

That would mean two-thirds of the 80 stores now open in Vancouver will have to move or shut down, said Counc. Kerry Jang.

“We went from six that operated for years, technically illegal but nobody cared, to over 80 now,” said Mr. Jang.

He said staff will be bringing forward a business licence for “marijuana-uses” to council next week that will prohibit dispensaries from operating within 300 metres of a school, a community centre or another dispensary; require them to get a development permit; and restrict them to commercial zones.

...

[osirisboy]

So does this mean the two on thurlow/Davie will close as its by that Montessori school?

[Vin]

Good riddance!

And in the meantime, the City wants to shut down downtown's only shishah smokes place at Davie and Granville. The 68-year-old owner threatened to go on a hunger strike in retaliation of the City's desire to shut down the Persian tea house.

[Sheba]

Tired of the same old stores? 10 hot retail ideas

http://www.msn.com/en-ca/money/companies...ld-stores-10-hot-retail-ideas/ss-AAboU1H

[WarrenC12]

Originally Posted by Vin

Good riddance!

And in the meantime, the City wants to shut down downtown's only shishah smokes place at Davie and Granville. The 68-year-old owner threatened to go on a hunger strike in retaliation of the City's desire to shut down the Persian tea house.

Is this about allowing smoking indoors, or something else?

[Vin]

Originally Posted by WarrenC12

Is this about allowing smoking indoors, or something else?

Not sure, but this issue had come up a few years ago and somehow the Persian Tea House continues to open for business. But yeah, I do believe that this has to do with the no-smoking-indoors bylaw.

[csbvan]

Originally Posted by mukmuk64

Going to be a lot less marijuana dispensaries around soon...

http://politics.theglobeandmail.com/2015/04/22/vancouver-to-crack-down-on-marijuana-dispensaries/

I have been wondering when the city would do this. I know that they want to keep some open, they like to capitalize on the loophole created federally to allow the quasi-legalized state of marijuana dispensaries; obviously the city would have legalized/decriminalized marijuana ages ago if it was up to them. That being said I think the city was caught off guard by the proliferation of dispensaries. This, if the regulations are upheld, will allow them to quell the concerns of residents that there were too many dispensaries opening too quickly in too many neighbourhoods.

[officedweller]

Sears Canada teams up with Wayne Gretzky for new line of clothing, grabs Target labels
By: Francine Kopun Business reporter,
Published on Thu Apr 23 2015

Sears Canada Inc. announced Thursday that it is partnering with Wayne Gretzky to launch a new line of better casual menswear in the fall of 2015, exclusive to Sears.

The struggling retailer has also scooped up the popular Cherokee clothing line and Liz Lange Maternity, both of which were exclusive to Target Canada before it closed its last stores earlier this month.
...

Boire said the company will continue to focus on selling high-quality products at fair prices to attract consumers and on cutting costs. It plans to bulk up in areas with higher margins where it does well, such as mattresses, while exiting electronics in full-line department stores.

It will continue to invest in technology, launching a new website next month.

Sears Canada remains open to the idea of more real-estate deals, Boire said.
...

CIBC analyst Perry Caicco believes Sears needs to downsize to 100 stores in small towns and rural areas.

“We do not believe Sears Canada can operate effectively in large urban centres where there is an abundance of competitors and plenty of fashion and home goods choices; their stores simply don’t offer a generally compelling alternative. But in small towns, they rock,” Caicco wrote in a note to investors after Sears released its fourth quarter earnings in March.

Former Sears Canada CEO Mark Cohen, now a professor of marketing at the Business School at Columbia University, believes there is no chance Sears Canada can be turned around.

U.S. hedge fund manager Eddie Lampert is still in control of the company, by virtue of the number of share he and his companies own, Cohen points out.

“At the end of the day, this CEO is as powerless as the CEOs who have preceded him and he has less to work with and the money the company had 10 years ago is gone . . . it’s negative momentum,” said Cohen.

“The only break they’ve had recently is the catastrophe at Target.”

http://www.thestar.com/business/2015/04/...ine-of-clothing-grabs-target-labels.html

**********

Restoration Hardware is also opening a 69,000 sq ft store [in former Sears space] at Yorkdale in Toronto.
I wonder if it has similar plans for Vancouver?

The new west expansion will span an estimated 120,000 square feet. Of that, 69,000 square feet is earmarked for upscale home furnishings retailer Restoration Hardware. The four-level store will be Restorations Hardware’s largest Canadian location. The new west expansion is scheduled to open in November of 2016.

http://www.retail-insider.com/retail-insider/2015/4/yorkdale-rh

[Conrad Yablonski]

Originally Posted by Vin

Good riddance!And in the meantime, the City wants to shut down downtown's only shishah smokes place at Davie and Granville. The 68-year-old owner threatened to go on a hunger strike in retaliation of the City's desire to shut down the Persian tea house.

Did you know he was selling Hash under the counter?

I guess there's not much money in Shisha these days.

[connect2source]

Details on the Holt Renfrew expansion :

-take over of Sport Check - Atmosphere
-80 seat cafe overlooking Howe St.
-Howe St. frontage becomes 200 feet long

I'm excited about the way the Howe Street facade will look, will be a welcome update and add cohesiveness to the entire block.

From : BIV

http://www.biv.com/article/2015/4/holt-renfrew-expand-vancouver-flagship-open-restau/