Toronto Whitehaus Condominiums | 107.28m | 31s | Lifetime | Turner Fleischer

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Photos from Urban Retail Toronto. Looks like the 3rd floor unit offers an opportunity for a potential flagship restaurant tenant with an expansive outdoor patio:

urbanretailtoronto.com

Whitehaus | Flagship Restaurant Opportunity - Toronto Urban Retail Team

6,715 sq. ft. + 1,500 sq. ft. (est.) Patio Rent: Contact Listing Agents Available: Immediately Incredible patio overlooking Yonge Street Amazing ceiling heights and floor to ceiling windows Neighbouring retailers include Stock T.C. (Terroni, Cumbrae’s), Pai Uptown, Urban Outfitters, Winners...
urbanretailtoronto.com urbanretailtoronto.com


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AlbertC said:
Photos from Urban Retail Toronto. Looks like the 3rd floor unit offers an opportunity for a potential flagship restaurant tenant with an expansive outdoor patio:

urbanretailtoronto.com

Whitehaus | Flagship Restaurant Opportunity - Toronto Urban Retail Team

6,715 sq. ft. + 1,500 sq. ft. (est.) Patio Rent: Contact Listing Agents Available: Immediately Incredible patio overlooking Yonge Street Amazing ceiling heights and floor to ceiling windows Neighbouring retailers include Stock T.C. (Terroni, Cumbrae’s), Pai Uptown, Urban Outfitters, Winners...
urbanretailtoronto.com urbanretailtoronto.com


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Opening a restaurant still in a pandemic situation doesn't seem that appealing! The icing on the cake is I bet a retail lease rate is extremely high so many still proceed with caution before signing. Just my 2 cents!
 
Art Tsai said:
Opening a restaurant still in a pandemic situation doesn't seem that appealing! The icing on the cake is I bet a retail lease rate is extremely high so many still proceed with caution before signing. Just my 2 cents!
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Certainly tougher to manage than before the pandemic, but opportunities could be there if they find the right tenant at the right price. Just like how the Art Shoppe Condos has the Oretta restaurant being close to opening. The difference between retail tenancies between that project and Whitehaus is actually pretty stark. As the Art Shoppe is pretty much fully leased out with a variety of retail functions, while this one is struggling to get anyone signed so far.

What doesn't work in their favour here is that it's a 3rd floor restaurant space that they're trying to lease out. There are examples with above grade restaurants can do well whether in Toronto or other cities, but this space looks like a tough one to fill until the ground floor spaces can pick up some momentum first and break the ice on this empty retail shell.
 
AlbertC said:
Certainly tougher to manage than before the pandemic, but opportunities could be there if they find the right tenant at the right price. Just like how the Art Shoppe Condos has the Oretta restaurant being close to opening. The difference between retail tenancies between that project and Whitehaus is actually pretty stark. As the Art Shoppe is pretty much fully leased out with a variety of retail functions, while this one is struggling to get anyone signed so far.

What doesn't work in their favour here is that it's a 3rd floor restaurant space that they're trying to lease out. There are examples with above grade restaurants can do well whether in Toronto or other cities, but this space looks like a tough one to fill until the ground floor spaces can pick up some momentum first and break the ice on this empty retail shell.
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We will have to see how long it takes for the ground floor retail to be leased out! I predict maybe another year or so...
 
AlbertC said:
Certainly tougher to manage than before the pandemic, but opportunities could be there if they find the right tenant at the right price. Just like how the Art Shoppe Condos has the Oretta restaurant being close to opening. The difference between retail tenancies between that project and Whitehaus is actually pretty stark. As the Art Shoppe is pretty much fully leased out with a variety of retail functions, while this one is struggling to get anyone signed so far.

What doesn't work in their favour here is that it's a 3rd floor restaurant space that they're trying to lease out. There are examples with above grade restaurants can do well whether in Toronto or other cities, but this space looks like a tough one to fill until the ground floor spaces can pick up some momentum first and break the ice on this empty retail shell.
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Not saying I know anything about the third floor restaurant space specifically, but I've heard that there's actually been a reasonable number of potential lessees of the space approach Lifetime, but that Lifetime are holding out for ones that they believe will be appropriate for the high profile spaces.

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interchange42 said:
Not saying I know anything about the third floor restaurant space specifically, but I've heard that there's actually been a reasonable number of potential lessees of the space approach Lifetime, but that Lifetime are holding out for ones that they believe will be appropriate for the high profile spaces.

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I remember the early renders indicated a Zara in the corner retail space, which would be consistent with Lifetime's inclination for higher profile / more commercial tenants. Of course, it could've been a random placeholder but typically it's supposed to entice potential similar businesses.
 
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