[Moncton] Retail Thread

[NBNYer]

Originally Posted by MonctonRad

On a darker note, online chatter seems to be veering from something exotic or exciting in the old Sears location towards a rather more mundane possibility - a commercial office space or (horrors) a call centre!!!

Nothing confirmed of course, but certain people (possibly in the know) are openly voicing this possibility, perhaps to tenderize the populace into accepting the inevitable.

I also have been growing more pessimistic over the last several weeks. HBC is having challenges, and Simons is running short of cash for future expansions (unless they get private equity partners). As such, the possibility of a single retailer taking over the Sears space is becoming unlikely. I still hope for the space to be subdivided for retail, and there are interesting possibilities out there (like an Indigo relocation, Rec Room or several other fashion retailers like F21 Red), but the rumours on the street are getting more persistent........

I've noticed this too. I wonder if any other CF properties are going this route. I can't see this as being a sound long term strategy. If true, I fear this is a last ditch effort to fill the space with just anything without considering the negative impact it might have on existing retail. Decreased foot traffic in that end of the mall would be significant. I hope it doesn't lead to a downward spiral for CF Champlain.

[L'homard]

I put as much credence in the call centre rumours as I do in the rumours that it will be an Olive Garden, a kids play area, etc.....

[Scarface]

Originally Posted by MonctonRad

Another Quebec based retailer is planning on moving into the Moncton market.

There is a job posting online on Indeed.com for a sales associate for a new store opening (Cazza Petites) in CF Champlain.

http://www.cazzapetite.com

This makes three upcoming store openings in CF Champlain:
- Roots
- Envy
- Cazza Petites

On a darker note, online chatter seems to be veering from something exotic or exciting in the old Sears location towards a rather more mundane possibility - a commercial office space or (horrors) a call centre!!!

Nothing confirmed of course, but certain people (possibly in the know) are openly voicing this possibility, perhaps to tenderize the populace into accepting the inevitable.

I also have been growing more pessimistic over the last several weeks. HBC is having challenges, and Simons is running short of cash for future expansions (unless they get private equity partners). As such, the possibility of a single retailer taking over the Sears space is becoming unlikely. I still hope for the space to be subdivided for retail, and there are interesting possibilities out there (like an Indigo relocation, Rec Room or several other fashion retailers like F21 Red), but the rumours on the street are getting more persistent........

This must be what is going between the Country Lane, and Peoples Jewllers then. It's the only empty space I see other then if they are taking on a peice of Sears But don't believe that would be the case.

Originally Posted by NBNYer

I've noticed this too. I wonder if any other CF properties are going this route. I can't see this as being a sound long term strategy. If true, I fear this is a last ditch effort to fill the space with just anything without considering the negative impact it might have on existing retail. Decreased foot traffic in that end of the mall would be significant. I hope it doesn't lead to a downward spiral for CF Champlain.

It's sad to say but if this is the case that the Mall is looking into turning the old SEARS into Call Centre space it ussually means the mall is dying.

[OUIR@random]

I highly doubt that Cadillac Fairview is planning to have a call centre in that space. If that would to happen, it means that CF wants to divest itself from this property in the near future. But again I don't think this is happening, we are not there yet.

[MonctonRad]

Originally Posted by OUIR@random

I highly doubt that Cadillac Fairview is planning to have a call centre in that space. If that would to happen, it means that CF wants to divest itself from this property in the near future. But again I don't think this is happening, we are not there yet.

That would be my biggest concern - that CF wants to unload Champlain Place.

I agree with you, CF is a fashion mall manager and is certainly not interested in having call centres in their portfolio.

So, if the old Sears space is redeveloped as a call centre, this signals to me that CF wants to "fatten up" Champlain Place (by decreasing the number of vacancies) in order to make the property as attractive as possible before selling it off to another mall management company.

Champlain Place is already a bit of an outlier in their portfolio. Almost all of their other properties are in the "big 10" Canadian cities. Champlain Place is the only mall in their portfolio east of Quebec. If they can't find any retailers interested in the Sears space, I could see them taking the easy way out, redevelop Sears as a sweat shop call centre and then plan for a quick sale of the property...........

The future of Champlain Place rests on the type of redevelopment that occurs in the Sears space.

[josh_cat_eyes]

Originally Posted by MonctonRad

That would be my biggest concern - that CF wants to unload Champlain Place.

I agree with you, CF is a fashion mall manager and is certainly not interested in having call centres in their portfolio.

So, if the old Sears space is redeveloped as a call centre, this signals to me that CF wants to "fatten up" Champlain Place (by decreasing the number of vacancies) in order to make the property as attractive as possible before selling it off to another mall management company.

Champlain Place is already a bit of an outlier in their portfolio. Almost all of their other properties are in the "big 10" Canadian cities. Champlain Place is the only mall in their portfolio east of Quebec. If they can't find any retailers interested in the Sears space, I could see them taking the easy way out, redevelop Sears as a sweat shop call centre and then plan for a quick sale of the property...........

The future of Champlain Place rests on the type of redevelopment that occurs in the Sears space.

I’d be okay with the selling it, so long as Ivanhoe Cambridge or another big name property owner bought it.

[MonctonRad]

Originally Posted by josh_cat_eyes

I’d be okay with the selling it, so long as Ivanhoe Cambridge or another big name property owner bought it.

Well, I think we're getting pretty far ahead of ourselves in speculation about what is going to happen with the Sears space at CF Champlain. Some of the rumours are pretty wild, and the longer that there continues to be a vacuum of information, the more unconventional the speculation will become. I think it would be prudent for Cadillac Fairview to announce something before the rumours get too outrageous.

Regarding the worst case speculation that CF is fattening up Champlain Place with a call centre before selling the property off - this would certainly be disappointing, but would not be the end of the world.

Cadillac Fairview is probably the most prominent retail mall ownership and management group in the country, including such prestige properties as the Toronto Eaton Centre, Sherway Gardens, Rideau Centre, Chinook Centre, Polo Park and the Pacific Centre in it's portfolio, and as such, having Champlain Place as part of this group gives the property a certain amount of prestige.

There are other similar prominent property ownership and management groups in the country out there however. For example, the most successful mall in the country (Yorkdale) is owned by Oxford Properties.

Within our region, the major malls are owned by:

MicMac Mall - Ivanhoe Cambridge
Halifax Shopping Centre - Cushman Wakefield
Avalon Mall - Crombie REIT
Champlain Place - Cadillac Fairview
Regent Mall - Primaris
McAllister Place - Primaris

If a sale were to come about, there are any number of other good quality property ownership and management groups that could step up to bat.

Personally, I'm going hold off on any further speculation for the time being. I continue to hope that the dreadful call centre rumour is just that - a rumour. I think the chances of HBC or Simons are becoming less likely, but there are a number of options available in refurbishing and subdividing the space for new exciting retail adventures. This is where I'm laying my hopes at present.

[Scarface]

Originally Posted by MonctonRad

Well, I think we're getting pretty far ahead of ourselves in speculation about what is going to happen with the Sears space at CF Champlain. Some of the rumours are pretty wild, and the longer that there continues to be a vacuum of information, the more unconventional the speculation will become. I think it would be prudent for Cadillac Fairview to announce something before the rumours get too outrageous.

Regarding the worst case speculation that CF is fattening up Champlain Place with a call centre before selling the property off - this would certainly be disappointing, but would not be the end of the world.

Cadillac Fairview is probably the most prominent retail mall ownership and management group in the country, including such prestige properties as the Toronto Eaton Centre, Sherway Gardens, Rideau Centre, Chinook Centre, Polo Park and the Pacific Centre in it's portfolio, and as such, having Champlain Place as part of this group gives the property a certain amount of prestige.

There are other similar prominent property ownership and management groups in the country out there however. For example, the most successful mall in the country (Yorkdale) is owned by Oxford Properties.

Within our region, the major malls are owned by:

MicMac Mall - Ivanhoe Cambridge
Halifax Shopping Centre - Cushman Wakefield
Avalon Mall - Crombie REIT
Champlain Place - Cadillac Fairview
Regent Mall - Primaris
McAllister Place - Primaris

If a sale were to come about, there are any number of other good quality property ownership and management groups that could step up to bat.

Personally, I'm going hold off on any further speculation for the time being. I continue to hope that the dreadful call centre rumour is just that - a rumour. I think the chances of HBC or Simons are becoming less likely, but there are a number of options available in refurbishing and subdividing the space for new exciting retail adventures. This is where I'm laying my hopes at present.

I don't think Oxford Properties ould be intrested since all there property are either in Ontario, or West. Also all Higher end.

[CdnEh]

They'll probably break it up into smaller spaces like Primaris did at McAllister Place. Nobody is interested in space that big anymore.

[Scarface]

Originally Posted by CdnEh

They'll probably break it up into smaller spaces like Primaris did at McAllister Place. Nobody is interested in space that big anymore.

well there still seems to be a lot of larger footprint stores. It's just none seem to be intrested in Greater Moncton, or New Brunswick as a whole.

On a facebook group they where talking about what the Canadian Government should have implemented but most seem to be intrested in Criminalizing the internet, or online shopping. Making it cheaper to buy in stores instead of online. But I tend to have a problem with that since I know a large number of people who purchased Ikea furniture before there as even a pick up point nearby. So it would have cost them more to go pick it up in store then have it delivered by courier service.

[MonctonRad]

Two bits of actual good news on the "retail apocalypse" front from a couple of articles in "Retail Insider"

1) - there are now "multiple offers" on the table for Toys "R" Us (Canada), with at least one offer planning to salvage the best 200 US stores (out of over 700 remaining stores) in addition to the 83 Canadian units.
2) - While Claire's in the US is seeking chapter 11, the Canadian unit is not involved and therefore may survive.

[Scarface]

Good news on the Canadian retail front.

I have what might be good news. The old Blockbuster/Furniturama store is curently being renovated including the old sign, and steel frame being removed, and a replacement should be ariving shortly.

[MonctonRad]

Originally Posted by Scarface

The old Blockbuster/Furniturama store is curently being renovated including the old sign, and steel frame being removed, and a replacement should be ariving shortly.

Yes, I just noticed that on the drive home tonight.

I hope that this building is put to a good use. It's in pretty good shape, and I have many fond memories of the building back from the time it used to be Blockbuster Video.

[Scarface]

Originally Posted by MonctonRad

Yes, I just noticed that on the drive home tonight.

I hope that this building is put to a good use. It's in pretty good shape, and I have many fond memories of the building back from the time it used to be Blockbuster Video.

That is what one of the Contractors said. That, and Watch out this sign was not installed properlly. They know they are renovating for a tenant but don't know who is moving in.

[MonctonRad]

Cazza Petites is apparently going to occupy the former Danier Leather location at CF Champlain. Renovations are currently ongoing.

[MonctonRad]

Originally Posted by MonctonRad

Cazza Petites is apparently going to occupy the former Danier Leather location at CF Champlain. Renovations are currently ongoing.

This store is now open (that was quick!!)

[MonctonRad]

Structural steel is going up for the new Cannabis NB retail store at the Mapleton Centre.

[MonctonRad]

Further to the above:

[MonctonRad]

According to Halifax ReTales (a reliable retail blogger in Haligonia), Five Guys Burgers & Fries has confirmed entry into the Halifax, Moncton & St. John's (NL) markets in 2019!!

https://www.facebook.com/HalifaxReTa...c_location=ufi

[drewber]

Originally Posted by MonctonRad

According to Halifax ReTales (a reliable retail blogger in Haligonia), Five Guys Burgers & Fries has confirmed entry into the Halifax, Moncton & St. John's (NL) markets in 2019!!

https://www.facebook.com/HalifaxReTa...c_location=ufi

Kind of curious how this will work with Big League since they literally stole their whole premise from five guys. Even have the same checkerboard red white pattern