Yonge Sheppard Centre Renovations and Expansion | 123.13m | 35s | RioCan | Quadrangle

droyces

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I live there and most of the films appeal to the older set. Weekend evenings can be busy and the Saturday opera shows are popular. It would be a strange time to close with new neighbors bringing numerous new patrons to the neighborhood in the next few years.
 

PolarDan

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Walked through today, and saw a Tim Hortons going in next to the Avis. Sweet! This corner was in desperate need of a Timmys :)
 

AlbertC

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Via link provided by Urbandreamer in another thread: http://www.institutionalpropertylistings-canada.com/Q_Investment_Report_Q1_2012.pdf

We reported the sale of the Sheppard Centre last quarter. At that time the deal had been announced but not closed. A selling price of $218 million was noted and the cost was being shared between RioCan and KingSett. The cap rate on the reported net income of $12 million is 5.5% for this 651,542 square foot, mixed use complex. Of those 650,000 square feet, 240,000 square feet would be characterized as retail space. The office component measures 412,000 square feet in two buildings while there is a residential development parcel, currently improved with 25, two storey rental townhouses. It is anticipated that 530,000 square feet of condominiums could be developed on this residential site.
 

investican

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Excellent. I did think that was the reason Empire theaters left. Cineplex moving to Empress and not having two theaters so close is OK by me, I've never found either really busy on their own.
 

bAuHaUs

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Excellent. I did think that was the reason Empire theaters left. Cineplex moving to Empress and not having two theaters so close is OK by me, I've never found either really busy on their own.
Word is that Target is moving into Y+S centre, and that's why there has been a theatre shuffle.
 

bAuHaUs

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There is a Target at Steeles. Does it makes sense to open another so close to each other?
I would say that they are world's apart...both sites show significant existing and future residential density potential.
 

bAuHaUs

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MileHigh

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I'd say that Marshall's is closer to Winners (in terms of merchandise) than Target is. Target isn't necessarily selling designers brands for less.
 

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