Winnipeg Retail

[CoryB]

If St Vital does 5-6 tenants in the vacant anchor space that suggests most units will be in the 20,000 sq ft+ range. H&M and Forever 21 definitely fall into that size range as would Zara. Apple store and Microsoft store could also be at play. Without much effort there are five possible names.

That said with space over two floors on an otherwise single level mall it will be interesting to see how the second floor is handled. Based on Apple stores in other cities I could see Apple being willing to take up space on the second floor with a minimal ground level presence.

[Authentic_City]

Any idea what is happening in the vacant Hakim Optical space at Portage Ave and Sherbrook (in the Casa Loma Building). I saw yellow zoning variance notices in the windows when I drove by today.

[Jeff]

Originally Posted by Authentic_City

Any idea what is happening in the vacant Hakim Optical space at Portage Ave and Sherbrook (in the Casa Loma Building). I saw yellow zoning variance notices in the windows when I drove by today.

nothing is going on in there. those variance signs are for the ongoing battle to re-purpose the billboards on the top.

[esquire]

Originally Posted by CoryB

If St Vital does 5-6 tenants in the vacant anchor space that suggests most units will be in the 20,000 sq ft+ range. H&M and Forever 21 definitely fall into that size range as would Zara. Apple store and Microsoft store could also be at play. Without much effort there are five possible names.

That said with space over two floors on an otherwise single level mall it will be interesting to see how the second floor is handled. Based on Apple stores in other cities I could see Apple being willing to take up space on the second floor with a minimal ground level presence.

Interesting... it sounds a bit like what happened in Polo Park when Safeway and Zellers moved out... more specialty stores and junior anchors to replace the former anchors.

So if any new-to-Winnipeg anchors like Simons or Nordstrom are going to open up, is it safe to say that Polo Park is the likeliest bet?

[Authentic_City]

Originally Posted by Jeff

nothing is going on in there. those variance signs are for the ongoing battle to re-purpose the billboards on the top.

Oh yeah right... forgot about that. Nothing to get excited about, unfortunately.

In other news, the old Blockbuster at Portage and Young street is now a dental office.

[Jeff]

some small things are nice to see changing in the direct vicinity. hopefully these few changes will entice the old car dealership to finally get demo-ed and that awful pharmacy on the north side with the nice stained glass windows fixed up.

[esquire]

^ It would be nice to see more continuity between West Broadway and Portage Ave.

[Authentic_City]

I can't figure out what's going on at the old McNaught car dealership. No for sale sign and no signs of life.

Also, Hildegard's Bakery at Portage and Maryland is not open yet, but the website says soon.

[Jeff]

Part of me wanted that 10-storey pie-in-the-sky office development for the parking lot on the north side of Portage and Beverley to have come to fruition. Shows people are kicking the tires in the area, though.

[Mahjong123]

In regards to the Kildonan Place Sears location, a large wall is currently going up separating the mall proper from that former location. Not sure if this is temporary or permanent. My guess is that the old Sears will be subdivided as nothing would really go in the entire space these days. Save On Foods is definitely a possibility as there isn't one in the east end yet.

[wags_in_the_peg]

Originally Posted by Authentic_City

I can't figure out what's going on at the old McNaught car dealership. No for sale sign and no signs of life.

Also, Hildegard's Bakery at Portage and Maryland is not open yet, but the website says soon.

It blows me away how that just sits there with no for lease signs at all. And the windows are always being cleaned every month or so

[CoryB]

Originally Posted by esquire

So if any new-to-Winnipeg anchors like Simons or Nordstrom are going to open up, is it safe to say that Polo Park is the likeliest bet?

Considering Winnipeg was originally supposed to get the first Simons outside Quebec they are definitely willing to sit on the sidelines and wait for the right space. Pretty sure they have even publicly said in interviews in the past that for Winnipeg it is the Polo Park area or nothing. Well not directly said it was heavily inferred they meant a space like Sears in the Polo Park mall. It was actually somewhat of a surprise they weren't able to land the old Zeller's. My guess there is to get Target to give up the space and anchor the stadium site CF needed to give the concession it wouldn't be a single medium or large retailer taking the space.

It is also worth mentioning the Simons more recently said publicly that their expansion plans for the near term (couple of years) are pretty much fully tapped out already. That said having an ideal location drop in your lap can change that for any company.

--

In terms of Nordstrom's, unless they are bring their off-price Rack format here, of which none of opened in Canada yet, I can't see them rushing to this market. The mixed history with Holt's in Winnipeg is enough to make any premium/luxury brand think twice about coming here. Off 5th is a good starting point to change that but reality is that was originally going to be a Hudson Bay Outlet until that brand was folded into Off 5th in Canada.

The other thing to keep in mind is if CF wanted to make the play they could potential strike an unlikely deal to see both Simons and Nordstrom carve up the Polo Park Sears space.

--

Originally Posted by Authentic_City

I can't figure out what's going on at the old McNaught car dealership. No for sale sign and no signs of life.

Just because a building doesn't have a "for sale/for lease" type sign on it doesn't mean it isn't on the market. Look at all the empty Sears spaces as an example. Even Garden City that currently has the Stiches outlet in it.

Originally Posted by Authentic_City

Also, Hildegard's Bakery at Portage and Maryland is not open yet, but the website says soon.

Hildegard's Bakery is self-funding their startup and doesn't have a lot of freely available working capital which is why there progress is somewhat slow.

[drew]

Originally Posted by CoryB

Hildegard's Bakery is self-funding their startup and doesn't have a lot of freely available working capital which is why there progress is somewhat slow.

I walk past there everyday during the week. It looks to be quite the operation they are setting up in there.

I am looking forward to trying them out.

This area of the city will have a decent number or quality bakeries fairly close to one another (Tall Grass, Stellas and now Hildegard).

[Authentic_City]

^And Sleepy Owl is not far away on Wall Street.

[Authentic_City]

Originally Posted by CoryB

Just because a building doesn't have a "for sale/for lease" type sign on it doesn't mean it isn't on the market. Look at all the empty Sears spaces as an example. Even Garden City that currently has the Stiches outlet in it.

Well, I suppose so, but this is Winnipeg, and people like to slap big brightly colored "For Sale/Lease" signs on buildings around here. Perhaps mall management at Polo and GC have forbidden large signs on exteriors of their properties? You don't see signs like this on the exterior of Portage Place either, but I'm sure there's lots of available space...

[CoryB]

The challenge is large retail spaces like that are a pretty niche market to start with. I don't work in the industry but I wouldn't be surprised if you contract with an agent working in that field who then calls up the type of tenants that would be looking for that type of space to see if they are interested.

All the major malls also have publicly accessible leasing sites that list sizes of available spaces and some other general information. If someone not on the list was looking the information is out there including the people to contact. The other reality here is if you are looking to lease 100,000+ sq ft of retail space you have moved well beyond a mom and pop operation and have an agent of some sort looking to find you a space.

It isn't so much that these transactions are "hidden" it is just that the likely tenants are more likely to find your space on a website than driving past and seeing a giant for lease sign hanging on the side of your mall. Further still "for lease" reads like "closed for business" to customers that might frequent your property.

[cllew]

Was in the new Peavy Mart on Pembina Hwy today. Its currently doing a soft opening as they are still waiting for some stock to show up, and will have the Grand Opening sometime in early March according to the staff person I was talking to while I there.

I think its brighter and better laid out than their other store on Panet@Narin

[esquire]

^ I noticed it was open on Saturday when I stopped at the Sobeys Plus. It has a bit of a "down home" kind of look complete with a sort of mock porch... it's quite something. It's a strange fit for that area.

[Jeff]

the windows on the old car dealership were just cleaned again lol.

And speaking of FOR LEASE signs on malls, Portage Place does have a normal-sized sign on the corner of Portage and Carlton advertising a chunk of 2nd floor space.

[CoryB]

^^ Portage Place has become more a low-rise office building with some retail than a true mall. I wouldn't be surprised if a small office called about the "retail" space they would have no issue leasing to them. The same can't be said about the former Sears spaces in any of the malls.