Northern Light
Superstar
Look for news on the former Zara space shortly,
Some news at the corner of Bay and Bloor too.
and something a bit further west..........
Should all be public w/i 3 weeks or so.
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Look for news on the former Zara space shortly,
Some news at the corner of Bay and Bloor too.
and something a bit further west..........
Should all be public w/i 3 weeks or so.
taal
Senior Member
@Northern Light do you see landlords giving in and reducing rents (not just a Yorkville question but in general e.g. Queen West, Yonge, ...) as I've always hoped that'd be a catalyst to drive some retail growth ?
Honestly, most of the inner city, with traditional street based retail (e.g. Yonge, Queen, Bloor, King, ..., ...) seems in worse shape then a few years back, and of course that's too be expected (maybe NYCC being an exception but pretty much everything is a restaurant here with a lot of local demand). It's just not clear to me, with new trends (e.g. working from home, online {ok, not really new, ...}, ...) if this will ever change without a lot of rent reductions.
Honestly, most of the inner city, with traditional street based retail (e.g. Yonge, Queen, Bloor, King, ..., ...) seems in worse shape then a few years back, and of course that's too be expected (maybe NYCC being an exception but pretty much everything is a restaurant here with a lot of local demand). It's just not clear to me, with new trends (e.g. working from home, online {ok, not really new, ...}, ...) if this will ever change without a lot of rent reductions.
Northern Light
Superstar
I haven't really been following the retail rent scene to be frank, I'm sure there others here better positioned to answer that, but I'll see if some of my contacts don't have an inkling....
Benito
Senior Member
Today.
Northern Light
Superstar
To follow up on this, I asked about and this is what I heard.
- Prices may have come off just a smidge and/or some 'incentives added' (ie. 3 months free rent or a credit towards fit-out) but overall, prices are not down much and the market is not particularly soft.
- There are still a few units that are not leased, in the area (or under negotiation) but maybe only 1/2 a dozen a-list spots, if that.
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Northern Light
Superstar
I'm not saying what this is yet; some of you probably know. But I'm not letting it out just yet. Don't want people grumbling at me. LOL
jasonmcc
New Member
How about a clue?!?
Richard White
Senior Member
Can we eat it?
pw20
Active Member
I believe retail inside said it was a “Canadian Retailer” and my mind went to Canada goose. Not sure if that’s right or not (and while you can eat Canadian geese you cannot eat Canada goose). I’m more intrigued by who rented the Zara space.
Richard White
Senior Member
Technically you can eat a Canada Goose jacket however you would be quite sick.
Northern Light
Superstar
pw20
Active Member
Browns is opening between Alo Yoga and Holts (returning to Bloor Street) and Arc'tryx is opening in the former Zara space. Good tenants for the area IMO. Good job Morguard.
Benito
Senior Member
Today.
taal
Senior Member
Thanks a ton for that ! That's very insightful.
I could see that being the case, though I do wonder about other not-so-prime area - example take WQW or even Queen East - but I think these are more structural issues with demand in the area - though still, I've always wondered if landlords are somehow incentivized to keep a retail spot empty over lowering rents to acquire any tenants.
Benito
Senior Member
Yesterday.
