prosperegal
Senior Member
To be more specific, J.Crew is opening in the old Jacob Connexion spot, not Jacob (which is still there).
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To be more specific, J.Crew is opening in the old Jacob Connexion spot, not Jacob (which is still there).
SP!RE
°°°°°°
When is it opening?
prosperegal
Senior Member
I heard August-ish.
Jonny5
Senior Member
The space formerly occupied by Nike (I think) on Queen has been leased by Nivea.
khris
Senior Member
Nivea? LOL, wtf?
Jonny5
Senior Member
yyzer
Senior Member
per CTV today, some interesting developments about to happen....
Premium outlet malls heading to Canada
MARINA STRAUSS
Two of Canada’s top shopping centre developers are squaring off over plans to bring U.S.-style premium outlet malls to Canada.
The showdown is coming to one of Canada’s fastest growing communities – Halton Hills, west of Toronto – where both RioCan Real Estate Investment Trust and rival Calloway Real Estate Investment Trust are preparing to introduce their first factory outlet centres.
The outlet malls feature high-end U.S. retailers, many of them not yet in Canada. Department store retailer Saks Fifth Avenue is among the U.S. players considering launching its first off-price outlet stores in the new centres.
Mitchell Goldhar, majority shareholder of Calloway and sole owner of SmartCentres, is in talks to team with a major U.S. factory outlet player to help hasten the invasion of the outlet centres in this country. Earlier this year, RioCan announced it had signed a deal with Tanger Outlet Centers Inc. of Greensboro, N.C., to bring the malls to Canada.
The race to build factory outlet centres underscores the growing appetite among U.S. retailers and developers to operate in the Canadian market. At stake for Canadian developers is getting a piece of a potentially lucrative business as growth in traditional malls and open-air, big-box power centres reaches a saturation point.
The first two sites for the factory outlet malls are strategically located along Highway 401, just one interchange apart, to attract people from locations as far as an hour away, said Tony Grossi, senior managing director of RioCan’s joint venture.
“We are trying to draw in a much more expansive area,” Mr. Grossi said.
The arrival of the U.S.-style retailing to Canada will be yet another squeeze on domestic retailers. U.S. players are being lured by Canadian consumers, who are showing a stronger willingness to open their wallets than their American counterparts. In January, U.S. discount giant Target Corp. unveiled a $1.8-billion agreement to buy most Zellers stores and convert them to Target’s banner by 2013.
Other U.S. merchants are set to open their first stores in Canada this year, such as action sports specialist Zumiez and fashion chain Express Inc.; while existing players, among them Wal-Mart, are expanding their Canadian footprint.
Tanger, a pioneer in taking upscale retailers and manufacturers to outlet malls, has ties to a wide range of merchants, including Saks and its Saks Off 5th discount division. Tanger’s U.S. tenants include the off-price arms of such high-end players as Nieman Marcus, Barneys, Polo Ralph Lauren, Coach, Lacoste and Michael Kors.
Mr. Goldhar said he envisions 10 to 15 factory outlet malls in Canada over the next several years. Callaway and RioCan each expect their first centre to open by 2013.
The Calloway property is zoned for factory outlet stores, but the RioCan team has to iron out details of getting final zoning approvals for the outlet mall at its Halton Hills site. RioCan is “working through it” in meetings with the municipality, said Rags Davloor, senior vice-president at RioCan. “There are no issues, as we see it.”
The rapid rise of factory outlet malls comes as development of other shopping centre formats has virtually come to a halt amid a weak economy and over-development of traditional and power centres. In the U.S. retail segment, “everybody is interested in Canada,” Mr. Grossi said. “Nobody says ‘no’ to Canada. Everybody is putting in the effort, at least, doing a preliminary review.”
Premium outlet malls heading to Canada
MARINA STRAUSS
Two of Canada’s top shopping centre developers are squaring off over plans to bring U.S.-style premium outlet malls to Canada.
The showdown is coming to one of Canada’s fastest growing communities – Halton Hills, west of Toronto – where both RioCan Real Estate Investment Trust and rival Calloway Real Estate Investment Trust are preparing to introduce their first factory outlet centres.
The outlet malls feature high-end U.S. retailers, many of them not yet in Canada. Department store retailer Saks Fifth Avenue is among the U.S. players considering launching its first off-price outlet stores in the new centres.
Mitchell Goldhar, majority shareholder of Calloway and sole owner of SmartCentres, is in talks to team with a major U.S. factory outlet player to help hasten the invasion of the outlet centres in this country. Earlier this year, RioCan announced it had signed a deal with Tanger Outlet Centers Inc. of Greensboro, N.C., to bring the malls to Canada.
The race to build factory outlet centres underscores the growing appetite among U.S. retailers and developers to operate in the Canadian market. At stake for Canadian developers is getting a piece of a potentially lucrative business as growth in traditional malls and open-air, big-box power centres reaches a saturation point.
The first two sites for the factory outlet malls are strategically located along Highway 401, just one interchange apart, to attract people from locations as far as an hour away, said Tony Grossi, senior managing director of RioCan’s joint venture.
“We are trying to draw in a much more expansive area,” Mr. Grossi said.
The arrival of the U.S.-style retailing to Canada will be yet another squeeze on domestic retailers. U.S. players are being lured by Canadian consumers, who are showing a stronger willingness to open their wallets than their American counterparts. In January, U.S. discount giant Target Corp. unveiled a $1.8-billion agreement to buy most Zellers stores and convert them to Target’s banner by 2013.
Other U.S. merchants are set to open their first stores in Canada this year, such as action sports specialist Zumiez and fashion chain Express Inc.; while existing players, among them Wal-Mart, are expanding their Canadian footprint.
Tanger, a pioneer in taking upscale retailers and manufacturers to outlet malls, has ties to a wide range of merchants, including Saks and its Saks Off 5th discount division. Tanger’s U.S. tenants include the off-price arms of such high-end players as Nieman Marcus, Barneys, Polo Ralph Lauren, Coach, Lacoste and Michael Kors.
Mr. Goldhar said he envisions 10 to 15 factory outlet malls in Canada over the next several years. Callaway and RioCan each expect their first centre to open by 2013.
The Calloway property is zoned for factory outlet stores, but the RioCan team has to iron out details of getting final zoning approvals for the outlet mall at its Halton Hills site. RioCan is “working through it” in meetings with the municipality, said Rags Davloor, senior vice-president at RioCan. “There are no issues, as we see it.”
The rapid rise of factory outlet malls comes as development of other shopping centre formats has virtually come to a halt amid a weak economy and over-development of traditional and power centres. In the U.S. retail segment, “everybody is interested in Canada,” Mr. Grossi said. “Nobody says ‘no’ to Canada. Everybody is putting in the effort, at least, doing a preliminary review.”
yyzer
Senior Member
and a press release from yesterday.....does this mean that Saks & Neiman Marcus could be coming to.....Milton??
RioCan Real Estate Investment Trust and Tanger Factory Outlet Centers, Inc. to Build Canada's First Tanger Outlet Center in Greater Toronto
TORONTO and GREENSBORO, N.C., March 14, 2011 (GLOBE NEWSWIRE) -- RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) and Tanger Factory Outlet Centers, Inc. ("Tanger") (NYSE:SKT), through their exclusive joint venture, announced today that they have entered into a purchase and sale agreement to acquire a 35 acre parcel of land to build the first Tanger Outlet Center in the Greater Toronto Area ("GTA"). The site for its first factory outlet will be Halton Hills, on Highway 401 at the James Snow Parkway interchange. The project is scheduled to start in the fourth quarter of 2011 and be ready for an April 2013 opening.
"Halton Hills is one of the fastest growing communities in Canada and the GTA, allowing our retailer partners access to the 5th largest retail market in North America," said Steven Tanger, President and CEO of Tanger Outlets. "Given our investment leadership and successful track record in Canada's largest urban markets, we are confident that opening our first Tanger Outlet Center in the GTA market of Halton Hills will create a shopping destination with unparalleled reach and popularity," added Edward Sonshine, President and CEO of RioCan.
The concept, design and merchandising of the Halton Hills centre will be similar to those within the highly successful Tanger portfolio of outlet centres in the U.S. Halton Hills is located in the northwestern section of the GTA and benefits from its proximity to Mississauga and Brampton, as well as having good access to metro Toronto. When fully complete, the project will be home to approximately 350,000 square feet of branded factory outlet retailers from the U.S. and Canada, offering consumers a unique opportunity to purchase merchandise directly from leading designer and brand name manufacturers at a substantial savings.
"In the U.S., the Tanger Outlets brand and shopping experience has generated strong followership and credibility with retailers and consumers. We believe we can duplicate the same loyalty and confidence here in Halton Hills and across Canada," said Tony Grossi, Senior Managing Director of the joint venture. The site is presently zoned to allow retail uses. "We look forward to working with the Town of Halton Hills to make this project a key regional retail landmark," added Grossi.
It is the intention of the joint venture to develop as many as 10 to 15 outlet centres in larger urban markets and tourist areas across Canada, over a five to seven year period.
About RioCan
RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $10.1 billion as of December 31, 2010. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 297 retail properties, including 10 under development, containing an aggregate of over 66 million square feet. RioCan owns an 80% interest in 31 grocery anchored and new format retail centres in the United States through various joint venture arrangements. In addition, RioCan owns a 14% equity interest in Cedar Shopping Centers, Inc., a real estate investment trust focused on supermarket-anchored shopping centres and drug store-anchored convenience centres located predominantly in the Northeastern United States. For further information, please refer to RioCan's website at www.riocan.com.
About Tanger Factory Outlet Centers, Inc.
Tanger Factory Outlet Centers, Inc., (NYSE:SKT) is a publicly traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has ownership interests in, a portfolio of 33 upscale outlet shopping centers in 22 states coast-to-coast, totaling approximately 10.1 million square feet, leased to over 2,100 stores that are operated by more than 350 different brand name companies. More than 160 million shoppers visit Tanger Outlet Centers annually. For more information on Tanger Outlet Centers, call 1-800-4-TANGER or visit our website at www.tangeroutlet.com.
RioCan Real Estate Investment Trust and Tanger Factory Outlet Centers, Inc. to Build Canada's First Tanger Outlet Center in Greater Toronto
TORONTO and GREENSBORO, N.C., March 14, 2011 (GLOBE NEWSWIRE) -- RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) and Tanger Factory Outlet Centers, Inc. ("Tanger") (NYSE:SKT), through their exclusive joint venture, announced today that they have entered into a purchase and sale agreement to acquire a 35 acre parcel of land to build the first Tanger Outlet Center in the Greater Toronto Area ("GTA"). The site for its first factory outlet will be Halton Hills, on Highway 401 at the James Snow Parkway interchange. The project is scheduled to start in the fourth quarter of 2011 and be ready for an April 2013 opening.
"Halton Hills is one of the fastest growing communities in Canada and the GTA, allowing our retailer partners access to the 5th largest retail market in North America," said Steven Tanger, President and CEO of Tanger Outlets. "Given our investment leadership and successful track record in Canada's largest urban markets, we are confident that opening our first Tanger Outlet Center in the GTA market of Halton Hills will create a shopping destination with unparalleled reach and popularity," added Edward Sonshine, President and CEO of RioCan.
The concept, design and merchandising of the Halton Hills centre will be similar to those within the highly successful Tanger portfolio of outlet centres in the U.S. Halton Hills is located in the northwestern section of the GTA and benefits from its proximity to Mississauga and Brampton, as well as having good access to metro Toronto. When fully complete, the project will be home to approximately 350,000 square feet of branded factory outlet retailers from the U.S. and Canada, offering consumers a unique opportunity to purchase merchandise directly from leading designer and brand name manufacturers at a substantial savings.
"In the U.S., the Tanger Outlets brand and shopping experience has generated strong followership and credibility with retailers and consumers. We believe we can duplicate the same loyalty and confidence here in Halton Hills and across Canada," said Tony Grossi, Senior Managing Director of the joint venture. The site is presently zoned to allow retail uses. "We look forward to working with the Town of Halton Hills to make this project a key regional retail landmark," added Grossi.
It is the intention of the joint venture to develop as many as 10 to 15 outlet centres in larger urban markets and tourist areas across Canada, over a five to seven year period.
About RioCan
RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $10.1 billion as of December 31, 2010. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 297 retail properties, including 10 under development, containing an aggregate of over 66 million square feet. RioCan owns an 80% interest in 31 grocery anchored and new format retail centres in the United States through various joint venture arrangements. In addition, RioCan owns a 14% equity interest in Cedar Shopping Centers, Inc., a real estate investment trust focused on supermarket-anchored shopping centres and drug store-anchored convenience centres located predominantly in the Northeastern United States. For further information, please refer to RioCan's website at www.riocan.com.
About Tanger Factory Outlet Centers, Inc.
Tanger Factory Outlet Centers, Inc., (NYSE:SKT) is a publicly traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has ownership interests in, a portfolio of 33 upscale outlet shopping centers in 22 states coast-to-coast, totaling approximately 10.1 million square feet, leased to over 2,100 stores that are operated by more than 350 different brand name companies. More than 160 million shoppers visit Tanger Outlet Centers annually. For more information on Tanger Outlet Centers, call 1-800-4-TANGER or visit our website at www.tangeroutlet.com.
bAuHaUs
Active Member
I beleive both SmartCentres & RioCan are looking at sites along the 401 between Milton and Mississauga. I'm surprised that both would build so close to eachother and both in the west-end. I guess the draw into KWCG and London puts pressure on the westend rather than the eastend like in Durham somewhere.
pw20
Active Member
Until I see a lease that says Saks or Neimans I don't believe a lot of the hype. I'm sure these malls will be built but I can't see a US retailer entering a new market entirely with an off-price concept only (unless they were an off-price retailer). When the Mills Corp was still around and was building Vaughan Mills, they would hint at the same retailers, Saks Off Fifth would be opening etc... Didn't happen.
These malls will get built, but will they have the desired tenant mix that they do in the States... probably not.
airplane-dude
Active Member
But when Vaughan Mills was made (what, in 2002?) the dollar value of the Loonie was much less than it is now.
I think that factor, more than our economy being better is what is making these retailers interested in coming here.
grey
Senior Member
Foreign exchange doesn't work that way, unfortunately
Jayomatic
Active Member
Saks off 5th and Neiman Marcus Last Call are pretty poor substitutes for the real thing stores. They're ok but there's no way the prices would be worth going.
samsonyuen
Active Member
But if they dip their toe in the water with the outlets, and are successful, they might bring their in-line stores. Outlets might need less commitment (i.e. they don't need to worry as much with timeliness).
khris
Senior Member
Rabba will be opening a new location in phase 2 of Boutique Condos sometime this fall.