The Ultimate Vancouver Rumour Thread!

[cc85]

The Airport lands are not as bad as Riverport. Riverport is the worst case of planning within Richmond during the past two decades. It started off with good intentions, a brand new ice rink facility to aid Minoru Arena. The worst was allowing residential uses along the river.

[LotusLand]

Originally Posted by Van23H

I don't think the store will be in a suburb. I have heard some new rumblings yesterday that Nordstrom will launch with the new expansion of Oakridge Centre and will go apparently where safeway is. Oakridge centre has apparently started relocating some retailers and negotiating their new leases.

I've "heard" the same thing. Nordstrom's first store in the LowerMainland will be in Vancouver. Just not downtown. The powers of deduction can begin

[officedweller]

Originally Posted by Van23H

I don't think the store will be in a suburb. I have heard some new rumblings yesterday that Nordstrom will launch with the new expansion of Oakridge Centre and will go apparently where safeway is. Oakridge centre has apparently started relocating some retailers and negotiating their new leases.

Makes sense - but it also begs the question as to whether that would delay a downtown store (since the proximity is so close).

[LeftCoaster]

Let me preface by saying I don't work at Ivanhoe Cambridge so I can't be 100% sure, but I am 99% sure Nordstroms has not signed at Oakridge, nor will they build a full dept store there unless their downtown plans fall apart.

The location is far too close to their proposed downtown location, which they have explicitly stated is their number one choice. Since the downtown locations are still in play there is no reason they would have signed at Oakridge. I'm quite sure they are in talks with IC in case downtown falls apart, but since it is still very much a viable option there is little rationale to suggest they have signed a deal at Oakridge.

[Van23H]

I must correct myself but when my inside person told me the scoop about the bay blocking nordstrom, it was not from entering the downtown but Oakridge Centre. He corrected me about this error today when we were discussing this. This makes more sense, especially with what Leftcoaster said about the bay's control over certain shopping centres. My inside person knows this because he was helping a major brand lease a space in Oakridge and the centre was advertising the possibility of Nordstrom as an anchor tenant if the bay would allow it.

[officedweller]

That's interesting.
If I recall correctly, Woodward's was the original developer of Oakridge - so whatever lease they put in place when the centre was developed, redeveloped and/or sold (and subsequently inherited by The Bay) would likely have been very favourable to Woodward's (now The Bay) - so that suggests there would have been an exclusivity clause (to be the only department store in the mall unless consent was obtained. Presumably Zellers would have been allowed as an affilate of The Bay (and maybe Target because The Bay sold the lease to Target?)

[LotusLand]

The Oakridge location is indeed a back up location if they can't get a downtown location. My "source" also did not indicate if it was a Nordstrom Rack. Either way a Vancouver store is their number one priority, however, they are running into a lot of hiccups due to The Bay and Sears.

I can't blame both The Bay and Sears for not wanting them here. I think for Sears it will hurt them. The Bay has rebranded but has a ways to go to get the younger crowd back in their store. Topshop/Topman is a start. So is the Room.

[jlousa]

If only there was a large upcoming project along Robson that could incorporate a Nordstroms. I'm sure Nordstorms will be able to find a location, if they want it enough.

[osirisboy]

hey what about that large telus project

[s211]

Originally Posted by LotusLand

The Oakridge location is indeed a back up location if they can't get a downtown location. My "source" also did not indicate if it was a Nordstrom Rack. Either way a Vancouver store is their number one priority, however, they are running into a lot of hiccups due to The Bay and Sears.

I can't blame both The Bay and Sears for not wanting them here. I think for Sears it will hurt them. The Bay has rebranded but has a ways to go to get the younger crowd back in their store. Topshop/Topman is a start. So is the Room.

Nordstrom would give the Bay much more to fear than Sears, IMNSHO...

[LotusLand]

Originally Posted by osirisboy

hey what about that large telus project

That would be too far off the strip. In reality Robson Street is great really only from Bute to about Hornby and even then it's really only great between Burrard and Thurlow, as you get closer to Bute it starts to suck.

If Apple's flagship were to go on the corner of Granville and Robson then we'd have a nice long stretch of retail. I just don't think Metro Vancouver has the population to support that long of stretch, hence why Nordstrom wouldn't be a good fit.

To get back to the rumour. I talked again to my contact at IC and they want Nordstrom as part of their expansion plans, but he said that they are only a back up and would most likely end up with a Nordstrom Rack. He stated we'll know in a few months as a deal is really close somewhere in Vancouver.

Not sure what to make of it but he was more secretive than normal which leads me to believe that he's hiding something

[LeftCoaster]

Originally Posted by s211

Nordstrom would give the Bay much more to fear than Sears, IMNSHO...

You are quite correct, The bay has a product mix much more in competition with Nordstroms than Sears. Sears is more concerned with the entry of Target than Nordstroms.

Originally Posted by LotusLand

That would be too far off the strip. In reality Robson Street is great really only from Bute to about Hornby and even then it's really only great between Burrard and Thurlow, as you get closer to Bute it starts to suck.

If Apple's flagship were to go on the corner of Granville and Robson then we'd have a nice long stretch of retail. I just don't think Metro Vancouver has the population to support that long of stretch, hence why Nordstrom wouldn't be a good fit.

To get back to the rumour. I talked again to my contact at IC and they want Nordstrom as part of their expansion plans, but he said that they are only a back up and would most likely end up with a Nordstrom Rack. He stated we'll know in a few months as a deal is really close somewhere in Vancouver.

Not sure what to make of it but he was more secretive than normal which leads me to believe that he's hiding something

Yes there is a deal very far advanced, the reason he is being secretive is because it is a very large deal with several concerned parties. I'll keep you guys up to date on it as much as possible but needless to say it is quite confidential at this point.

[wrenegade]

Another problem when it comes to Nordstroms is that they don't like to pay rent. At all. It is typical in suburban malls (and even some downtown malls in the US) that Nordstroms is paying zero. Nordstroms see themselves as a draw for the rest of a mall and it is a privilege for landlords to include them in their centre and that they should be treated as such. That's not necessarily going to be the case in Canada, but you can be sure they won't be treated like any other retailer. A landlord (or developer) is going to have to be able to get a lot of extra density to spare or a lot of empty space to fit them in unless Nordstroms wants to change their corporate culture. This is why I see a downtown store anywhere but Sears a difficult sell, at least at this point.

[phesto]

Originally Posted by wrenegade

Another problem when it comes to Nordstroms is that they don't like to pay rent. At all. It is typical in suburban malls (and even some downtown malls in the US) that Nordstroms is paying zero. Nordstroms see themselves as a draw for the rest of a mall and it is a privilege for landlords to include them in their centre and that they should be treated as such. That's not necessarily going to be the case in Canada, but you can be sure they won't be treated like any other retailer. A landlord (or developer) is going to have to be able to get a lot of extra density to spare or a lot of empty space to fit them in unless Nordstroms wants to change their corporate culture. This is why I see a downtown store anywhere but Sears a difficult sell, at least at this point.

I imagine Nordstroms' will be paying a subtantial amount in rent wherever they wind up in Vancouver (albeit moreso Downtown than Oakridge). The retail landscape here is significantly different than most of the suburban or even urban US markets where they are already located, and I'm sure they have conceded this as soon as they did an initial survey of the Vancouver market and continued their push to find a location.

The only way Nordstroms would ever wind up in the Sears building would be a significant sublease payment to Sears, or a substantial upfront payment to Sears to have them terminate their lease, which is far less likely.

[officedweller]

Originally Posted by osirisboy

hey what about that large telus project

The retail component is under the condo tower, so the floorplates are chopped up by the elevator core, etc.

It's also only a quarter of a block - so not nearly as "expansive" as the look and feel of Sears.

http://vancouver.ca/commsvcs/plannin...floorplans.pdf

It would crazy if they took over a portion of the Main Post Office, but that's too far off the beaten track.

[SpongeG]

sears in canada is trying to be all like the bay and high end - but sears in the states is like down market kmart or jc penny

as for the bay - every last time i have been there it has been extremely busy - i have never seen the store so busy in all my time shopping there - the mens floor used to be like a ghost town, now i see many people shopping, the shoe dept always has someone trying on shoes and best of all they have multiple staff in the shoe dept to help people with sizes - go figure - you could stand there for hours waiting to get any kind of service in the past and they carry great brands and styles now

they've done a really nice job with the bay and its seem to have worked

[wrenegade]

I would never consider the Sears upmarket. They have been doing a slightly better job as of late but that's not really saying much from where they were. As for the Bay, they are definitely improving their image and feel of the store (at least the Downtown one) but I was very disappointed with the Top Shop. From seeing the women's section upstairs and how much the Top Shop was talked up here I literally walked in and thought I couldn't find the place. It hardly looks much different to before. The offerings are slightly better, and I was impressed with the Diesel mini-store/section, but other than that it was kinda same-old same-old for me. They have a long long way to go if they want to be considered in the same thought as Harrys (at least IMO) or even Nordstroms.

With regards to Nordstroms and rent, ya, they are going to be paying more than they are used to downtown but I wouldn't be surprised to see damn cheap rent at Park Royal/Oakridge/Metrotown/Richmond Centre when or if they go there.

[s211]

Originally Posted by SpongeG

they've done a really nice job with the bay and its seem to have worked

No kidding. Service has really been ramped up. Almost makes me feel like I'm not in Canada anymore!

[SpongeG]

Originally Posted by wrenegade

I would never consider the Sears upmarket. They have been doing a slightly better job as of late but that's not really saying much from where they were. As for the Bay, they are definitely improving their image and feel of the store (at least the Downtown one) but I was very disappointed with the Top Shop. From seeing the women's section upstairs and how much the Top Shop was talked up here I literally walked in and thought I couldn't find the place. It hardly looks much different to before. The offerings are slightly better, and I was impressed with the Diesel mini-store/section, but other than that it was kinda same-old same-old for me. They have a long long way to go if they want to be considered in the same thought as Harrys (at least IMO) or even Nordstroms.

With regards to Nordstroms and rent, ya, they are going to be paying more than they are used to downtown but I wouldn't be surprised to see damn cheap rent at Park Royal/Oakridge/Metrotown/Richmond Centre when or if they go there.

they carry chanel makeup and high end cosmetics - sears in the states i don't think even has a makeup dept, but clothing wise its nothing too high end - more like kohls

[vancityrox]

Originally Posted by wrenegade

I would never consider the Sears upmarket. They have been doing a slightly better job as of late but that's not really saying much from where they were. As for the Bay, they are definitely improving their image and feel of the store (at least the Downtown one) but I was very disappointed with the Top Shop. From seeing the women's section upstairs and how much the Top Shop was talked up here I literally walked in and thought I couldn't find the place. It hardly looks much different to before. The offerings are slightly better, and I was impressed with the Diesel mini-store/section, but other than that it was kinda same-old same-old for me. They have a long long way to go if they want to be considered in the same thought as Harrys (at least IMO) or even Nordstroms.

With regards to Nordstroms and rent, ya, they are going to be paying more than they are used to downtown but I wouldn't be surprised to see damn cheap rent at Park Royal/Oakridge/Metrotown/Richmond Centre when or if they go there.

Im glad you liked my Diesel shop