The Retail Thread - Page 89

Ramsayfarian · #**1761** Posted **Mar 2, 2012, 3:19 PM**

Quote:

Originally Posted by Plus15

Cadillac Fairview must have some pretty SOLID deals with tenants to take up these spaces. Sears Canada had no plan to exit these locations - essentially Cadillac approached them and bought them out. IF there was no plan in place why would they pay to remove an anchor tenant? I smell Nordstrom in Van and Cgy and a redevelopment in Ottawa...

I think you might be right about CF asking them to leave. If Sears was to shut down any location, you'd think it would be their North Hill store.

With regards to the article, one would think that the Herald could find a better file pic than the one they used.

Plus15 · #**1762** Posted **Mar 2, 2012, 3:40 PM**

Yep, Cadillac Fairview paid Sears $170 million to disappear from these locations. All three are supposed to close by Oct 31. Should be interesting to see what happens...

eggbert · #**1763** Posted **Mar 2, 2012, 3:44 PM**

Quote:

Originally Posted by mersar

Or I'd wonder if it may redevelop it period. Tear that portion down, build more parkade under it and then rebuild 2 levels of mall retail plus offices above?

As for another potential anchor, no idea there either. Its too large a space for almost anyone else who isn't already in or coming to the mall (could Target do a swap of the current zellers location for sears' location? I'd think the Sears one might be bigger)

I was thinking the same thing about Target swapping locations. Seems to me the Sears location is way better than the Zellers location, at least considering the front and back entrance into the parking lot rather than Zeller's front entrance into the mall itself.

fusili · #**1764** Posted **Mar 2, 2012, 4:16 PM**

Just to add to the speculation. Chinook currently has a land use redesignation underway to include mixed use commercial and multi-residential. Perhaps they are planning something for that location. A podium-tower with tie-in to the mall?

Innersoul1 · #**1765** Posted **Mar 2, 2012, 4:27 PM**

Quote:

Originally Posted by Ramsayfarian

I think you might be right about CF asking them to leave. If Sears was to shut down any location, you'd think it would be their North Hill store.

With regards to the article, one would think that the Herald could find a better file pic than the one they used.

Yeah, I was wondering about who asked who to leave. The lease at North Hill must be dirt cheap! What a trashy store! Reminds me of shopping in Great Falls Montana

Bigtime · #**1766** Posted **Mar 2, 2012, 4:27 PM**

Quote:

Originally Posted by fusili

Just to add to the speculation. Chinook currently has a land use re-designation underway to include mixed use commercial and residential. Perhaps they are planning something for that location. A podium-tower with tie-in to the mall?

Very interesting, something like that could really be a catalyst to get more TOD development going in the Chinook station area.

Innersoul1 · #**1767** Posted **Mar 2, 2012, 4:28 PM**

Quote:

Originally Posted by fusili

Just to add to the speculation. Chinook currently has a land use redesignation underway to include mixed use commercial and multi-residential. Perhaps they are planning something for that location. A podium-tower with tie-in to the mall?

That would make a lot of sense given what we have heard!

Calgarian · #**1768** Posted **Mar 2, 2012, 4:28 PM**

I would like to see a Nordstrom's or something similar move to the Sears location. There are a lot of large American department stores that i'm really surprised have no presence in Canada.

Is that location too large for a Brooks Brothers?

Calgarian · #**1769** Posted **Mar 2, 2012, 4:30 PM**

Quote:

Originally Posted by Innersoul1

Yeah, I was wondering about who asked who to leave. The lease at North Hill must be dirt cheap! What a trashy store! Reminds me of shopping in Great Falls Montana

I think Sears probably approached CF and they worked out a deal, Sears has a lot of debt and the $170 mil will go a long way to helping relieve some of the pressure.

fusili, that's really interesting. Is the land use on their site? I thought CF also owned a lot of the land across MacLeod...

fusili · #**1770** Posted **Mar 2, 2012, 4:53 PM**

Quote:

Originally Posted by Calgarian

I think Sears probably approached CF and they worked out a deal, Sears has a lot of debt and the $170 mil will go a long way to helping relieve some of the pressure.

fusili, that's really interesting. Is the land use on their site? I thought CF also owned a lot of the land across MacLeod...

The land use is for the Chinook site itself (6455 Macleod Trail S).

Innersoul1 · #**1771** Posted **Mar 2, 2012, 5:52 PM**

Quote:

Originally Posted by Calgarian

I would like to see a Nordstrom's or something similar move to the Sears location. There are a lot of large American department stores that i'm really surprised have no presence in Canada.

Is that location too large for a Brooks Brothers?

WAY too big for Brooks Brothers. That being said, I wonder how successful BBs is? I don't think that you would want to saturate the market with another store just yet.

I would be all over Nordstroms. Amazing inventory but the best part is the customer service. The hardest part would be finding capable employees to provide said customer service

Cage · #**1772** Posted **Mar 2, 2012, 7:16 PM**

Quote:

Originally Posted by eggbert

I was thinking the same thing about Target swapping locations. Seems to me the Sears location is way better than the Zellers location, at least considering the front and back entrance into the parking lot rather than Zeller's front entrance into the mall itself.

The Zeller's location is slated to close on Aug 11. With Sears closing October 31st the North end of Chinook (minus the new space) is going to look very empty for 2012 Christmas season.

mersar · #**1773** Posted **Mar 2, 2012, 7:29 PM**

Just saw this quote about the Sears closing on CBC:

Quote:

"While we had no plans to close stores, the transaction for these three specific locations provides an attractive financial benefit for the company," president and CEO Calvin McDonald said in a statement Friday.

The retailer will get $170 million from real estate developer and landlord Cadillac Fairview Corp. Ltd. Sears will look into opening other stores in the three cities, the company said.

Source: http://www.cbc.ca/news/canada/calgar...-cadillac.html

Ramsayfarian · #**1774** Posted **Mar 2, 2012, 10:08 PM**

Quote:

Originally Posted by fusili

Just to add to the speculation. Chinook currently has a land use redesignation underway to include mixed use commercial and multi-residential. Perhaps they are planning something for that location. A podium-tower with tie-in to the mall?

I'm hard pressed to think of a less attractive place to live. But that's just me.

YYCguys · #**1775** Posted **Mar 2, 2012, 10:19 PM**

I think if residential will be built there the Shell needs to relocate. I wouldn't want to smell the gas and diesel from my balcony! Having said that, it would be a good transition from the residential properties across the avenue!

fusili · #**1776** Posted **Mar 2, 2012, 10:27 PM**

Quote:

Originally Posted by Ramsayfarian

I'm hard pressed to think of a less attractive place to live. But that's just me.

My girlfriend has a hard time keeping me at Chinook without becoming irritable. Chapters and the Apple store are the only stop gap measures. I hate malls with a passion, and hate mall rats even more.

SpongeG · #**1777** Posted **Mar 2, 2012, 11:15 PM**

i read on facebook on a friend's feed, not a firm source, that nordstorm has signed a deal to take over all three locations - Vancouver, Calgary and Ottawa - Nordstrom did publicly announce last year, at least here in vancouver that they were serious about entering Canada and had some deals they were working on securing some locations

Ramsayfarian · #**1778** Posted **Mar 2, 2012, 11:22 PM**

Quote:

Originally Posted by fusili

My girlfriend has a hard time keeping me at Chinook without becoming irritable. Chapters and the Apple store are the only stop gap measures. I hate malls with a passion, and hate mall rats even more.

I feel the same way. I'd would add Phil & Sebastian to that list.

Can you imagine having to deal with the Christmas gong show that mall turns into every time you return home? It would drive me postal.

Calgarian · #**1779** Posted **Mar 2, 2012, 11:23 PM**

Quote:

Originally Posted by fusili

My girlfriend has a hard time keeping me at Chinook without becoming irritable. Chapters and the Apple store are the only stop gap measures. I hate malls with a passion, and hate mall rats even more.

I hear ya man, when I go to the mall, I get what I need and get the hell out, I definitely don't linger. The thing I hate most about Chinook is the gong show that is parking and driving around there, absolutely brutal!

Ramsayfarian · #**1780** Posted **Mar 2, 2012, 11:23 PM**

Quote:

Originally Posted by mersar

Just saw this quote about the Sears closing on CBC:

Source: http://www.cbc.ca/news/canada/calgar...-cadillac.html

Sears would get a better return on that $170 million if they invested it in GIC's or just bought lottery tickets with the money.