Prada opens at Toronto's Yorkdale Shopping Centre

Photo: Darrell Bateman 

Prada has opened a boutique at Toronto's Yorkdale Shopping Centre Holt Renfrew store. The Prada concession features accessories as well as women’s ready-to-wear and footwear. The shop is about 3,000 square feet and can be accessed both from within Holt Renfrew as well as from an entrance facing the mall. The photo above is the mall entrance to the new Prada store. 

The Yorkdale Prada is the latest concession for Prada in Canada. Prada has taken to opening and operating leased concessions around the world and currently operates concessions at Holt Renfrew’s Toronto (Bloor Street), Calgary and Vancouver stores. 

Prada joins neighbouring designer concessions including Chanel (which recently opened next to Prada), Gucci, Dior and Louis Vuitton. 



Prada also has a 5,889 square foot free-standing flagship at 131 Bloor Street West in Toronto. It features menswear, womenswear, accessories, footwear and fragrances.

We’ve been told that Saks Fifth Avenue intends on opening Prada concessions within its new Canadian stores. In fact, Prada will be one of several key designer concessions that Saks and Holt Renfrew will compete to operate. Nordstrom also has Prada concessions at several of its American stores and may also try to open Canadian Prada concessions. 

We’ll keep you updated on Prada’s Canadian store expansion, especially given Saks Fifth Avenue’s intentions to carry the designer in Canada. 

Thank you Darrell Bateman for the photo at the top of this article.




Photo: Holt Renfrew [Image Source]

DAVID YURMAN OPENS FIRST CANADIAN STORE

David Yurman, Yorkdale Shopping Centre. Photo: David Yurman

David Yurman's first Canadian store has opened at Toronto's Yorkdale Shopping Centre. The 1,837 square foot store enjoys a corner location in close proximity to other upscale retailers including Salvator Ferragamo, Cartier, Tiffany & Co., Burberry, Mulberry and Tumi. 




For those unfamiliar, David Yurman is a NYC-based designer of fine jewellery and luxury timepieces. The company was founded in 1980. There are 26 David Yurman store locations in the United States as well as two stores in France and one in Hong Kong. Collections are also carried at fine jewellers and American department stores such as Saks Fifth Avenue, Neiman Marcus and Bloomingdale's. David Yurman products can also be found at selected Holt Renfrew stores in Canada. 



Lease Plan: Oxford Properties

David Yurman was first announced as a Yorkdale tenant in March 2013. A source tells us that David Yurman could open further Canadian store locations, including possible store locations in Toronto's Yorkville area as well as in Vancouver. 

Interior of David Yurman, Yorkdale Shopping Centre. Photo: David Yurman

"We're proud to make a home for ourselves in Toronto," says David Yurman's President and Chief Commercial Officer,Carol Pennelli. "The decision to expand into this market was driven by a loyal and avid following of Canadian clients that have been shopping with us for years in the US. We're thrilled to be a part of this diverse and vibrant community, and look forward to introducing our brand to an entirely new customer base."

RELATED: 

Toronto's Yorkdale Mall to Open David Yurman, All Saints, Varvatos, Ferragamo and Other New Stores...

[Source: Press Release]

[Yorkdale Shopping Centre website]

[David Yurman website]

UPDATED ANALYSIS: POTENTIAL SUBURBAN SAKS FIFTH AVENUE LOCATIONS IN CANADA

[Image Source]
According to the November 27th edition of the The Globe & Mail Report on Business, Saks Fifth Avenue CEO Richard Baker says that he'll open up to eight Saks Fifth Avenue stores in Canada, including suburban locations in or near Toronto, Montreal and Vancouver. Based on Baker's comments, we're providing an updated list of which suburban Canadian malls are likely to receive a new Saks store. We also have an update on potential downtown stores: they might not go into current flagship Hudson's Bay store space, after all. 

The Globe & Mail article says the following about Richard Baker:


"He’s also weighing setting up Saks in Calgary, and in suburban Toronto, Montreal and Vancouver—up to seven or eight Canadian Saks in all, he says. He’s already negotiating for space in major suburban malls such as Toronto’s Sherway Gardens and Yorkdale."


Given the above statement, we have an update on what suburban locations we think Saks Fifth Avenue could open in Canada. We'll specifically address potential suburban locations. 


The first two locations we'll discuss are the obvious ones which were mentioned in the article: Toronto's Sherway Gardens and Yorkdale Mall. The second two might be less obvious. We speculate that the Vancouver store location could be at Oakridge Shopping Centre, and that the suburban Montreal store could be at Le Carrefour Laval.


Yorkdale Shopping Centre, Toronto: Richard Baker may be negotiating for the entire 190,000 square foot Sears store location that was recently sold back to landlord Oxford Properties. The store enjoys a prime location next to an expanded flagship Harry Rosen store and is between an upscaled Hudson's Bay and a substantially expanded and modernized Holt Renfrew store. We had initially expected a Yorkdale Saks to be established within part of Hudson's Bay's 303,000 square foot store, though now it appears Richard Baker is willing to spend substantially more money on Canadian Saks stores than we had originally anticipated. 

Saks could have some competition for the Yorkdale Sears space, however. La Maison Simons has expressed interest in leasing part of the space. Furthermore, the mall's landlord has also stated that it may wish to demolish Sears in order to expand Yorkdale Mall into that space as well as the adjacent parking space. 


Nordstrom will join Yorkdale in 2016 with a new 188,000 square foot store, in part of a 298,000 square foot mall expansion. 

Sherway Gardens, Toronto: Saks could occupy part (or even all) of Sherway's 225,000 Sears store location which Sears recently sold back to landlord Cadillac Fairview. We again have changed our thoughts on where Saks could go. We were expecting Saks to open a shop-in-store within suburban Hudson's Bay stores, but after last week's article in the Globe & Mail, it appears that Richard Baker is willing to spend money to build large free-standing Saks stores. We think 225,000 square feet might be a bit too large for Saks at Sherway, however - only two American Saks locations are larger than 225,000 square feet, and both are 'urban' flagships, being the Manhattan (646,000 square feet) and Beverly Hills (275,000 square feet) stores. 

Sherway Gardens is a sufficiently upscale mall for Saks, and it features other upscale tenants including Holt Renfrew (which may stay in the mall, despite its building a 120,000 square foot store in nearby Mississauga) and, in 2016, a 138,000 square foot Nordstrom store. 

Oakridge Shopping Centre, Vancouver: Saks had already been inquiring into space at Oakridge Centre, and Oakridge's landlord is looking to fill a proposed 155,000 square foot anchor store with an upscale American department store. Though it wouldn't open until some time around the year 2020, an expanded Oakridge Centre could become home to a Saks store. 

Carrefour Laval, suburban Montreal: Given the possibility that Saks could open in suburban Montreal, our best guess for its location would be Carrefour Laval. The mall enjoys an affluent shopping base and its landlord, Cadillac Fairview, is keen to make improvements to the mall. We're not sure if Saks could take over the mall's current Sears store, or if it would want to - the mall's Sears store is a bit removed from other upscale retailers and is itself neighboured by some more mid-market stores. We're not aware of mall restrictive covenants though it's possible that a purpose-built Saks could arrive in the mall within a few years.

Besides these four suburban store locations, we expect at least three downtown Canadian Saks stores: one in Toronto (replacing Hudson's Bay at Yonge and Bloor) as well as in Vancouver and Montreal. Sources have informed us that Saks management may want to create free-standing downtown stores rather than locate within flagship Hudson's Bay stores in Downtown Vancouver and Montreal. An eighth possible Saks store could be somewhere in Calgary. 


WHAT HAPPENED ON BLACK FRIDAY AND CYBER MONDAY IN CANADA?

[Image Source]

This year, many Canadians participated in Black Friday and Cyber Monday in hopes of finding outstanding discounts. These traditionally American phenomena have spread to Canada in a big way, partly due to efforts by mall landlords and larger retailers. Did you participate in this year's Black Friday and/or Cyber Monday? We're curious to hear your opinions. We've interviewed Yorkdale Mall's Anthony Casalanguida and consulted with retail expert RJ Cilley to get their opinions on Black Friday and Cyber Monday in Canada. 

Anthony Casalanguida, General Manager at Yorkdale Mall, expected that Black Friday was going to be a big deal at his mall. Yorkdale polled customers and found that a substantial portion of them planned to participate in Black Friday, both in-store as well as online. Though he didn't expect Black Friday to be as popular as Boxing Day in Canada, Mr. Casalanguida still anticipated large crowds. As a response, Yorkdale put forth efforts to improve accessibility during an otherwise busy and potentially stressful time. 


As vehicle access to the mall continues to be very important, Yorkdale has modernized its parking. Yorkdale is the only shopping centre in the Toronto area to offer a parking feature on its mobile App which updates shoppers every 15 minutes on the best areas to find a parking space. In addition, all Yorkdale parking entrances are equipped with computerized tabulators that display the number of available parking stalls, while 'stop light technology' above each stall in the underground parking lot clearly shows drivers where there is availability to park. You can have a live look at parking before you leave home with live streaming video of the upper deck parking on www.yorkdale.comThe mall also launched valet parking in November 2012 as part of its $185 million expansion.


But Yorkdale isn't only facilitating access by car - since last week, shoppers who travel to Yorkdale on a TTC Family Day Pass can receive a $10 Yorkdale gift card. Shoppers can present a valid pass with same-day receipts totalling $50 or more at the guest services kiosk (located near Timothy’s World Coffee).



[Image Source]

In the end, crowds descended upon Canadian retailers for Black Friday, though not as many as were initially expected. We spoke to several retailers both at Yorkdale and other malls who say sales were lower than they expected despite considerable buzz in-store. Was it the lack of deep discounts like those commonly found on the same day in American cities? Some shoppers complained that this years Black Friday sales were essentially no different than regular retail sales. In the United States, plenty of retailers offered 70% and 80% discounts, while many of the sales witnessed in Canada were in the 40-50% range - no better savings than a typical sale in many stores.  

RJ Cilley, Director of Corporate / Business Development at the Hudson's Bay Company, gave us his insights into Black Friday and its increasing popularity among Canadians. According to Mr. Cilley, "Canadian retailers traditionally did not partake in Black Friday events; however, Canadian consumers are more frequently crossing the border to hunt for deals. Over the past few years Canadian retailers saw this as an opportunity and began to offer Black Friday savings events." Cilley further noted that Canadians are seeking not only to get Black Friday deals, but also to be part of the excitement Black Friday offers. 

Excitement aside, we asked Mr. Cilley if he felt that Black Friday deals are worth it. His response was that "consumers are getting great deals on Black Friday; however, [...] there are times with heavier promotions in certain categories throughout the Christmas selling season." he added "There are certain categories that will most likely offer their highest discounts of the holiday season, such as electronics, as this is a major foot traffic driver."


Mr. Cilley further described Cyber Monday as an American trend that has been slower to gain momentum in Canada, noting that "the Canadian consumer is still learning about the event and retailers must focus their attention on marketing the event properly." He then went on to say that Cyber Monday's biggest discounts [were] in categories that did not clear well during Black Friday sales."


So what was your experience with this year's Canadian Black Friday and Cyber Monday sales? Did you get a good deal? Was there chaos in stores similar to what has occasionally turned to violence in American stores? Please feel free to comment below or on our Facebook Page, or tweet us your impressions of Canadian Black Friday/Cyber Monday to our Twitter account


CHANEL'S 2nd LARGEST CANADIAN STORE OPENS AT YORKDALE'S HOLT RENFREW

Entrance to Chanel from within Holt Renfrew. Photo: Holt Renfrew
Chanel has opened its second-largest Canadian store, its fifth store location in Canada, at Holt Renfrew's expanded store at Yorkdale Shopping Centre in Toronto. The store is about 3,000 square feet, according to Holt Renfrew.


Photo: Holt Renfrew


According to Holt Renfrew: "A chic new CHANEL boutique opened at Holt Renfrew Yorkdale Shopping Centre on Thursday November 28. Designed by famed architect and long-time Chanel collaborator Peter Marino, the sparkling new 3000 square foot boutique was inspired by Mademoiselle Chanel’s apartment on rue Cambon in Paris. 

The salon houses Chanel’s coveted ready-to-wear fashion, plus handbags, footwear, accessories, watches and both costume and fine jewellery. We couldn’t resist slipping into the luxurious fitting rooms, featuring custom artwork by Peter Dayton, to try on a few pieces from the standout 2013/14 Cruise collection, first shown at Loewen Cluster in Singapore. #HoltsYorkdale


Photo: Holt Renfrew
Chanel's five Canadian stores include a 7,900 square foot free-standing flagship at 131 Bloor St. W, in Toronto, as well as boutiques within Holt Renfrew stores in Vancouver (1,880 sq ft), Calgary (~1,600 sq ft), Montreal (~1,700 sq ft) and Toronto (50 Bloor St. W. - 1,815 sq ft).


Photo: Holt Renfrew
We're expecting to make at least one major announcement on a Canadian Chanel store in the next couple of months. Stay tuned for updates. 

RELATED:


Chanel entrance from within Yorkdale Shopping Centre. Photo: Holt Renfrew




NORTH AMERICA'S 1ST TATEOSSIAN SHOP OPENS AT YORKDALE'S HARRY ROSEN

Robert Tateossian at the new Tateossian shop at Harry Rosen, Yorkdale

North America's first Tateossian shop has opened inside the Harry Rosen store at Toronto's Yorkdale Shopping Centre. The founder, Robert Tateossian, was in attendance for the shop's opening on November 16th.

For those unfamiliar, Tateossian is a London (England)-based designer and retailer of men's cufflinks and jewellery. Tateossian's designs have become so popular, in fact, that that he's become known as the 'King of Cufflinks' among fans. The shop also sells Tateossian watches, bracelets, tie clips and more. 

The brand is available in over 60 countries and in some of the world's most prestigious stores. It's carried at selected Holt Renfrew and Harry Rosen stores in Canada, as well as at selected Neiman Marcus, Saks Fifth Avenue and Bloomingdale's stores. 


Harry Rosen's Yorkdale store has been undergoing an extensive renovation and much of it is completed. The entire store is expected to be finished by February 2014. 


Thank you to ACT7 of Urban Toronto for notifying us of this store opening. 


RELATED: 


[Harry Rosen website]

[Tateossian website]

COMBINED MEN'S/WOMEN'S SHOPPING DEPARTMENT DEBUTS AT HOLT RENFREW, CALLED 'HOLTS COMMONS'


Holt Renfrew has introduced a shared shopping department for both men and women called 'Holts Commons'. The concept was unveiled over the weekend at Holt's Yorkdale store in Toronto, and it's expected to be introduced in other Holt Renfrew stores, space permitting. The Toronto Holts Commons spans about 7,000 square feet.

This is how holt Renfrew portrayed the concept: 

"His. Yours. Hers. Ours. Share your closet.

We are excited to introduce you to Holts Commons, an exciting new shopping destination for him and her exclusively at our Yorkdale location. Drawing inspiration from a mid-century modern design aesthetic, Holts Commons is a place to stay connected with others and shop collections from some of today’s most talked-about contemporary designers. Because shopping is an experience that’s best when it’s shared, Holts Commons allows both men and women to cross-shop and share some of the best pieces our store has to offer. Join us as we celebrate the launch of Holts Commons. #HoltsCommons"

Various brands are available in the new space including The Kooples, Rag & Bone, Burberry Brit, Comme des Garcons PLAY and Zadig & Voltaire.

We'll keep you updated on the innovative retail concept that is Holts Common's cross-Canada expansion as an innovative retail concept.

RELATED:





[Holt Renfrew website]

Photo: Barbara Atkin, Holt Renfrew

TUMI'S 1st CANADIAN STORE OPENS IN TORONTO

[Image Source]
Tumi's first fully-dedicated store opened on November 22nd at Toronto's Yorkdale Shopping Centre. The 1,285 square foot store is located between jewellers Thomas Sabo and Maison Birks.

For those unfamiliar, Tumi is a New Jersey-based manufacturer, wholesaler and retailer of travel bags and accessories. It has more recently branched into the lucrative handbag retail market. Tumi has over 120 stores worldwide and over 200 shop-in-store locations.

This is technically Canada's first full-fledged Tumi store, as the one we reported on in Vancouver is a combined Tumi and Rimowa retailer. 


RELATED:  



[Yorkdale Shopping Centre website]

[Tumi website]

CANADA'S 1st JOHN VARVATOS STORE HAS OPENED, AND YOU COULD WIN A $1000 GIFT CARD

[Image Source]

Canada's first John Varvatos store has opened at Toronto's Yorkdale Shopping Centre. The 3,600 square foot store is located in the mall's recently expanded wing, between Canada's first AllSaints store and the mall's high-volume Apple Store.

As part of the store opening, Varvatos is giving away a $1,000 gift card. To enter, you can follow this link via Yorkdale Shopping Centre:  http://yorkdale.com/contest/john-varvatos

For those unfamiliar, John Varvatos is an American lifestyle menswear brand which designs, manufactures and retails high-end fashion. The company has won numerous awards and has attained a loyal customer following.

John Varvatos is in the process of a significant store expansion. It had 13 free-standing stores at the beginning of 2013 and expects to have a total of 20 by the end of 2014. 

The Yorkdale Varvatos store is located in the new wing of the mall's most recent expansion. In November 2013, Wayne Gretzky opened the new 145,000 square foot wing which reportedly cost about $185 million. New tenants included Kate Spade, Ted Baker, Tesla Motors and Canada's first Microsoft Store, among others.

We'll update you on any further John Varvatos Canadian store openings, including a rumoured Vancouver store location. 

[Yorkdale Shopping Centre website]

[John Varvatos website]

LOUIS VUITTON OPENS 3RD-LARGEST CANADIAN STORE AT YORKDALE'S HOLT RENFREW

Photo: Yorkdale Shopping Centre Twitter
Louis Vuitton has reopened inside of the Toronto Yorkdale Holt RenfrewSources tell us that the store, which has been expanded, is about 4,000 square feet. This makes it the third-largest Louis Vuitton store in Canada.

Canada's first-and second-largest Louis Vuitton stores are both substantial, two-level flagships referred to as 'Maisons'. The second-largest store, which was also the first Louis Vuitton Maison to appear in Canada, opened at the Hotel Vancouver in December 2010. It's about 10,000 square feet. An even larger Maison opened in Toronto in September 2012, at over 15,000 square feet. These are Canada's only free-standing Louis Vuitton stores, as a free-standing shop in Banff, Alberta closed in May of 2011.

Canada's other Louis Vuitton stores are all located within department stores. These include Vuitton concessions at Holt Renfrew in Vancouver, Calgary, Edmonton and Toronto (Yorkdale Shopping Centre and 50 Bloor St. W.). A 3,200 square foot Louis Vuitton shop is also located within Montreal's iconic Ogilvy department store.

Yorkdale's Holt Renfrew store is undergoing a substantial expansion and renovation, and we'll be doing a comprehensive article about it when completed.

[Louis Vuitton website]

[Holt Renfrew website]


WHITE HOUSE | BLACK MARKET OPENS FIRST CANADIAN STORE


White House | Black Market opened its first Canadian store yesterday at Toronto's Yorkdale Shopping Centre, and it threw a grand opening party the evening of Wednesday, October 23rd. Calgary-based blogger Ryan, aka Mr. Fab, provided us with the photos in this brief article, all from the store's grand opening.

Ryan did some investigating and found that White House | Black Market alleges that it has no plans to open elsewhere in Canada, besides the three Toronto-area stores that we previously announced. We doubt this is true, as a national roll-out of the chain only makes sense given its popularity as well as its already costly efforts to open in Canada.



Canada's second White House | Black Market opens October in Mississauga's Square One Shopping Centre, and the third location opens November 12th at the Upper Canada Mall in Newmarket, Ontario.

We'll update you when we learn of more possible White House | Black Market store locations.

Thank you to Ryan, aka Mr. Fab, for this article's photos and investigation. You can find his blog here and also follow him on Twitter.

[White House | Black Market website]



DE BEERS TO OPEN 2ND CANADIAN LOCATION IN TORONTO

[Image Source]

De Beers will open its second Canadian retail location within Yorkdale Shopping Centre's Holt Renfrew. Construction hoarding is up, and it opens this fall. It will be the first De Beers in North America to be located within a department store. 

De Beers' first Canadian store opens soon in Vancouver. We first reported on the Vancouver De Beers in February, when we discovered that it would occupy space in The Carlyle, a luxury retail development on Vancouver's upscale Alberni Street


For those unfamiliar, De Beers is a diamond company that also retails its wares in a few select cities around the world. De Beers stores are beautiful, product is pricey, and having a De Beers store is considered a prestigious addition to any retail location. De Beers currently has 8 North American locations, all in the United States (9 if you include Hawaii). The company has 46 stores world-wide, 26 of which are located in Asia.


Thank you to source ACT7 of Urban Toronto for notifying us of this story. 


We'll keep you updated if De Beers decides to open further Canadian locations.


[Holt Renfrew website]


[De Beers website]

MIU MIU TO OPEN 2ND CANADIAN LOCATION AT YORKDALE'S HOLT RENFREW

Photo: Miu Miu
Prada-owned Miu Miu will open its second Canadian location within Yorkdale Shopping Centre's Holt Renfrew. Canada's first Miu Miu store opened in January at Holt Renfrew's Bloor Street flagship in Toronto. No word yet on the Yorkdale Miu Miu stores's size, though we're told the Bloor location is about 450 square feet. 

As with the Downtown Toronto Miu Miu, Yorkdale's Miu Miu will carry only accessories and handbags, and no women's clothing. 


There are currently 15 leased Miu Miu boutiques in the United States. Nine are free-standing shops that carry women's ready-to-wear. The other six are accessory shops like those in Canada, and five of those are within Saks Fifth Avenue stores while one is within Manhattan's flagship Bloomindale's store. No word yet if Saks Fifth Avenue will attempt to secure Miu Miu leases when it opens in Canada


Thank you to source ACT7 of Urban Toronto for notifying us of this story. 


We'll update you on any further Miu Miu store openings in Canada, as it's speculated that a Vancouver location could be next in the works. 


[Holt Renfrew website]


[Miu Miu website]

CANADA'S TOP RETAIL RENTS: ALL LOWER THAN YORKDALE MALL

Colliers International has released its latest report on retail space rents, including those on Canada's most expensive shopping streets. Interestingly, Toronto's Yorkdale Shopping Centre charges rents higher than Canada's most expensive street, Bloor Street West, in Toronto.

According to the study, these numbers are average quoted asking rental rates, and we're using Canadian dollars. Canada's highest retail rents, as measured per square foot, are as follows:

1) Bloor Street West, Toronto: $315/sq ft

2) Robson Street, Vancouver: $200/sq ft

2) (tie) Ste Catherine Street, Montreal: $200/sq ft

4) Alberni Street, Vancouver: $150/sq ft

5) Granville Street, Vancouver: $125/sq ft

6) Spring Garden Road, Halifax: $65/sq ft

6) (tie) 17th Avenue S.W., Calgary: $65/sq ft

8) 4th St. S.W., Calgary: $60/sq ft

9) Greene Avenue, Montreal: $60/sq ft

10) Rue de la Montagne, Montreal: $60/sq ft. 

The following are a few comments about several of these streets, followed by comments on Yorkdale: 

Bloor Street West, Toronto:

Bloor Street's high rents are concentrated in a few short blocks between Yonge Street and Avenue Road. Retailers include some of Canada's most prestigious stores (Chanel, Gucci, Prada, MulberryDolce & GabbanaTiffany & Co.) as well as some lower-priced stores including the likes of Zara, Winners, Roots and, soon, J. Crew and Brooks Brothers. Bloor Street is considered to be Canada's most prestigious high street and its high rents reflect this. Interestingly, Bloor Street's rents are only marginally lower than those of Chicago's Michigan Avenue, assessed at $328/sq ft. Bloor Street has been Canada's most expensive street for years, and rents only went up 1.6% from last year. 

Robson Street, Vancouver:

Vancouver's Robson Street has more mid-range retailers, and its relatively high rents reflect the volume of sales on the street. Asking rents of $200 are up substantially from last year, when asking rents were only in the $150 range. New retailers continue to open stores on Robson including, recently, Browns ShoesVictoria's Secret and J. Crew. Shoe retailer Steve Madden just opened a Robson Street store, and retailers New Balance, HMV, Shoppers Drug Mart Beauty Boutique and a popular car retailer (we'll discuss this in a later article) have recently secured space on Robson Street. The most expensive Robson Street blocks are the 1000 and 1100 blocks, between Burrard and Bute Streets. 

Ste Catherine Street, Montreal:

This street has been relatively successful in featuring mostly mid-priced retailers. It also includes several larger stores including La Maison Simons and Les Ailes de la Mode. The most popular retail portion of Ste Catherine Street is anchored by Ogilvy to the West and Hudson's Bay/La Baie to the East. Saks Fifth Avenue will likely share Hudson's Bay's retail space within the next 24 months

Alberni Street, Vancouver:

Vancouver's Alberni Street saw a substantial increase in rents (43%) over last year. This is mainly due to the asking rents at The Carlyle, a luxury retail redevelopment on Alberni Street's 1000 block. We recently wrote an article discussing the increase in luxury shops on Alberni Street, which will soon see the addition of De BeersTory Burch and Tumi. More luxury retailers are on the way, with lease negotiations ongoing

Spring Garden Road, Halifax:

This street is home to popular department store Mills, which recently "re-opened" after moving to a new store location. The rest of Spring Garden Road includes some popular and some moderately upscale retailers, contributing to Halifax's most popular shopping street. Surprisingly, rents on this street are down 7.1% from last year. 

17th Avenue S.W., Calgary:

Calgary's retail is overwhelmingly dominated by shopping malls. Despite this, 17th Avenue S.W. continues to come out on top as the city's most popular retail high street (and at $60/sq ft, ties for most costly). Substantial changes are on the way for the street, including a renovation and expansion of the Mount Royal Village complex (we'll do an article on this in the next while). Rents are up 8.3% over last year. 

Retail Insider's Karim Rashwan directed us to comments made by Yorkdale Mall's General Manager Anthony Casalanguida, who stated that rents in his mall are now in the $350-375/square foot range. These are higher than any of the streets described above. Yorkdale is on track to becoming North America's highest-selling mall , with sales expected to be $2 billion by 2018. Yorkdale has also opened several new luxury stores including MulberryFerragamo, and (soon) a renovated and expanded Holt Renfrew storeAnother expansion of the mall breaks ground soon, including a 188,000 square foot Nordstrom store. Yet another expansion is expected where Sears is currently located, and this could possibly include a La Maison Simons store.

The following is a link to the entire Colliers International 2013 Retail Report.

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