ACT7
Active Member
That's crazy. I'm speechless...
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That's crazy. I'm speechless...
bAuHaUs
Active Member
Tiffany's is moving next to the new LV (perhaps downsizing their space).
ardwold1
Active Member
I'm pretty sure that would be an upsize, no? I'd be curious about square foot vs. square foot. Nice flagship opportunity though, and leaves space for another retailer to move in. I'm REALLY curious to know what's going into the new Four Seasons
ACT7
Active Member
That's what I just found out too. The good people at Tiffany's head office were pretty confused.
So then that begs the question as to who would take over their space. That's also over a year away so whoever last year's major European brand was supposed to be, may not happen for a while now. Hmm, lots of shifting and very little progress.
ACT7
Active Member
Seems to be a bit of a downsize. The listing shows retail space of 10,000 sq ft with an addtional 3,400 of basement. Although I don't think the basement was used for retail. I think the space beside LV is approx. 8,600 sq. ft.??
bAuHaUs
Active Member
Well the rug store across the street is leaving and the space is available...great corner across from the Four Seasons. I will try to find out who they've leased the retail space to at the Four Seasons to, and will report back.
pw20
Active Member
I think its actually larger then current premises. I have the 150 Bloor West floor plan from December. The were then 3 units vacant.
3000 feet next to LV on the main floor + 5500 square feet on the mezzanine floor for a total of 8500 square feet. There were also two second floor units behind the large unit at 1300 square feet each (total 2600). One is now labeled storage... the other says existing retail. Both are directly connected to the 8500 main space. I'm sort of assuming that Tiffany's consolidated all of that space.
Also the third floor of the current store was primarily used for offices along with parcel pick up... The large second floor allows Tiffany's to consolidate operations on two floors instead of 3 (and anyone who's waited for the elevator to get up to the 3rd floor... knows how annoying it was).
If Tiffany's needed a larger Canadian office (they are opening several stores across the country) there is also more office space in 150 Bloor West.
Long - answer... from a selling perspective I think the new store will actually appear much larger and will clear out the second floor bottleneck which occurs on Saturdays as the new store will have at least 5500 square feet on the second floor compared to 3300 in the current store.
3000 feet next to LV on the main floor + 5500 square feet on the mezzanine floor for a total of 8500 square feet. There were also two second floor units behind the large unit at 1300 square feet each (total 2600). One is now labeled storage... the other says existing retail. Both are directly connected to the 8500 main space. I'm sort of assuming that Tiffany's consolidated all of that space.
Also the third floor of the current store was primarily used for offices along with parcel pick up... The large second floor allows Tiffany's to consolidate operations on two floors instead of 3 (and anyone who's waited for the elevator to get up to the 3rd floor... knows how annoying it was).
If Tiffany's needed a larger Canadian office (they are opening several stores across the country) there is also more office space in 150 Bloor West.
Long - answer... from a selling perspective I think the new store will actually appear much larger and will clear out the second floor bottleneck which occurs on Saturdays as the new store will have at least 5500 square feet on the second floor compared to 3300 in the current store.
vatche
Senior Member
What bugs me the most is the secrecy of all this. it's taking forever for news to come out and for stores to move in. And everything seems to be a rumor....anyways I guess I'm impatient.....but yorkdale seems to be getting the news out in no time.
ACT7
Active Member
That's very true. I remember reading an article a while back and the head of the Bloor-Yorkville BIA was quoted as saying that despite all the lease signs, all the spaces have been rented out and that we would be hearing about them soon. I guess she had a different definition of soon. From a marketing perspective, Yorkdale seems to know what to say and when to say it.
pw20
Active Member
Yorkville has 3 problems vis-a-vis Yorkdale (maybe more):
1) Yorkdale has a permanent PR, marketing team behind it. The BIA doesn't compare...
2) Yorkdale also has a national leasing team which can curate retailers. Because each building is owned individually the BIA has no say over which tenants, wheras Yorkdale can actively push out tenants if it wants to
3) Yorkville can't compete with overall square feet of Yorkdale. There's an interesting aritcle about the old mac spot - its only 1000 square feet and the owner doesn't want a food retailer (ie Starbucks)... large "european brands" or even the J. Crews of the world want 5,000 square feet plus. The Tory Burch in Yorkdale is almost 3000 square feet.
That being said - its remarkable to think of how Bloor has changed in a decade. I remember the Grand and Toy location where Burberry was... etc...
One of the things Bloor hasn't seen (yet) has been the development of malls to add additional square feet. Chicago has numerous small malls which feed into Michigan Ave. Newbury Street has Copley Place too (for example their Tiffany location is in Copley Place). The game changers will be: 1 Bloor East, the renovation of the old Four Seasons and whatever Oxford does to Cumberland Terrace. We should see over 300,000 square feet of premiere retail added to the district (50,000 Yorkville Plaze, 100,000 at One Bloor East + whatever happens at Cumberland Terrace), this is key to the problem - look at the Top Tier retail that was added where Diesel and Anthropologie is... the demand is there for large format retail - I suspect there's a real shortage of space.
1) Yorkdale has a permanent PR, marketing team behind it. The BIA doesn't compare...
2) Yorkdale also has a national leasing team which can curate retailers. Because each building is owned individually the BIA has no say over which tenants, wheras Yorkdale can actively push out tenants if it wants to
3) Yorkville can't compete with overall square feet of Yorkdale. There's an interesting aritcle about the old mac spot - its only 1000 square feet and the owner doesn't want a food retailer (ie Starbucks)... large "european brands" or even the J. Crews of the world want 5,000 square feet plus. The Tory Burch in Yorkdale is almost 3000 square feet.
That being said - its remarkable to think of how Bloor has changed in a decade. I remember the Grand and Toy location where Burberry was... etc...
One of the things Bloor hasn't seen (yet) has been the development of malls to add additional square feet. Chicago has numerous small malls which feed into Michigan Ave. Newbury Street has Copley Place too (for example their Tiffany location is in Copley Place). The game changers will be: 1 Bloor East, the renovation of the old Four Seasons and whatever Oxford does to Cumberland Terrace. We should see over 300,000 square feet of premiere retail added to the district (50,000 Yorkville Plaze, 100,000 at One Bloor East + whatever happens at Cumberland Terrace), this is key to the problem - look at the Top Tier retail that was added where Diesel and Anthropologie is... the demand is there for large format retail - I suspect there's a real shortage of space.
vatche
Senior Member
I agree! Bloor BIA is not creating excitement and momentum at all. Everything's advancing at a snail's pace. Whereas yorkdale keeps coming out with new stuff. Ur also right that bloor has changed a lot compared to 1987 when I used to go to yorkville to party. It is much much better now.
ACT7
Active Member
Totally agree as well. It would be nice if the BIA was more proactive and involved with releasing information.
As an aside, I've had a hell of a time trying to find out who is moving into the retail space in the Park Hyatt. Who else wants to give it a shot?
grey
Senior Member
That Hyatt space would have been a way better spot for Brooks Brothers instead of being way over on George Street, but it's nice to see quality shops stretching further west on Bloor.
ACT7
Active Member
Here is a semi-official announcement about Tiffany's. The new space is a bit smaller but as has been mentioned, has a better layout.
http://canadianmalls.blogspot.com/2012_03_01_archive.html
http://canadianmalls.blogspot.com/2012_03_01_archive.html
prosperegal
Senior Member
wow, so this would leave two decently-sized spaces on Bloor...