The owner of Hamilton’s Lime Ridge Mall says there is “strong demand” for the space left behind following the closure of Hudson’s Bay earlier this year.
But more news could be on the horizon as the company eyes filling the vacant south end of the mall. Claire Mahaney, vice-president of investor relations at Primaris, told The Spectator that with the relinquishment of all remaining Bay leases, the company has “full visibility” on available anchor tenant space and has “accelerated negotiations” with potential future tenants.
“There is a strong demand for the (Hudson’s Bay) box at Lime Ridge,” Mahaney said in an emailed response to questions. “We are in negotiations with a number of high-quality tenants.”
Mahaney noted that as the company looks to fill the vacant space, its “leasing strategy” will include looking to rent out the entire space to a single retailer or dividing the space into units to make room for multiple large-format tenants or commercial retail unit uses.
That could mean the former Bay, which left behind roughly 125,300 square feet of retail space, could eventually be home to a mix of different businesses, like a clothing store, a restaurant, a big-box retailer, a hair salon or any other kind of retailer you see in a mall.
“We look forward to providing more details as we progress through the leasing process,” said Mahaney, who would not provide further details. “Typically, the types of tenants we expect to backfill these boxes with are strong covenant, high-quality national retailers.”
Another question hanging over the mall is the future of the residential development that had been in the works for the north end of the mall by Cadillac Fairview, which would have seen the former Sears razed and replaced with housing.
Mahaney did not directly comment on the future of those plans, adding there were “no major updates” at this time, while noting that the mall takes up roughly 19 per cent of the total 60 acres of land at the property.
The city had issued a permit to demolish that portion of Lime Ridge Mall in 2023, but work never started. The status of that permit remains unclear.
Primaris CEO Alex Avery previously told this newspaper that the company “does not build residential itself,” meaning it would need to look for a partner in the project to buy a parcel of land and develop it on their own.
As for the rest of the mall, Mahaney said that as of the end of September, Lime Ridge was nearly 78 per cent occupied, with the company expecting that number to “rise over time.”
A recent directory map for the mall shows more than a dozen vacant spaces of various sizes across the mall, including in the food court and along the main shopping corridors.
Andy Traynor, general manager of Lime Ridge, told The Spectator that recent business openings in the mall include clothing stores such as Levi’s and Tip Top Tailors, jewelry store Hillberg & Berk, and Asian skincare shop “Kiokii and...”
Some businesses have also opened in the mall on a short-term basis, noted Traynor, including Hamilton’s Dawson’s Hot Sauce, Lee Valley, Stuffy Riders, Play Sports, The Link, Aivy Gift, Hickory Farms and Calendar Club.
Future store openings in the mall include a Wingstop restaurant and Aura Fragrances, which has locations inside malls across Ontario and Quebec, added Traynor.
The Spectator invited readers to provide feedback on Lime Ridge Mall following the Walmart announcement late last month, with more than 560 people responding to an online survey.
Nearly 42 per cent of respondents believed Walmart was not a good fit for the mall, while 43 per cent were supportive of the news. The remaining respondents said they didn’t care.
Around 51 per cent of respondents said Walmart would not attract them to the mall, while 36 per cent said it would, and 13 per cent were undecided on whether it was a draw.
The Spectator offered readers the chance to submit suggestions for retailers in the mall, with some common proposals including Canadian department store Simons, Canadian Tire, Giant Tiger, Ikea and Princess Auto, as well as TJX stores such as Winners, Marshalls and HomeSense.
www.walmartcanada.ca
