Could Canadian Tire be temporarily moving here as the proposal for their current site 2 blocks north is edging forward?
 
Northern Light said:
Let's remember, 'The Bay's' wounds are self-inflicted. The chain, under Bonnie Brooks, when it started to move upmarket was posting some reasonably good numbers in its fully renovated stores, and at Queen.

It's only subsequent to that that the parasites that own the place have been sucking it dry.

Which is to say, other large retailers are much healthier.

The other thing to remember is that Bloor, while large, is much, much smaller than Queen.

It's a bit over 220,000ft2 (it was larger with the basement/concourse space but that is not likely to be part of a new tenancy)

By comparison, Queen is closer to 1,000,000ft2
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Absolutely. But for me it was the move towards luxury brands that made me stop shopping there. I loved their Black Brown 1826 in house brand of clothing and own quite a few of their sweaters. They used to have a section dedicated to the brand at both the Eaton Centre and Yonge & Bloor stores. Now the brand seems to have disappeared from the flagship store, and instead they have more space for brands like Ralph Lauren, Hugo Boss, etc. Just last week I went there and saw Ralph Lauren sweaters retailing for about $550 full price, and almost $300 after discount. A big no for me! As for the rest their stuffs, you can almost always find the same products cheaper online.

Yes, the escalators on the east side of the building seem to have been out of order for months (either that, or they were fixed and stopped working again within weeks). And only 2 of the 4 or 5 elevators are working. What’s next? They’re going to turn off the lights to save on hydro?
 
I’m assuming that the company is waiting to sell the land to the highest bidder for redevelopment as the land is worth at least $800m.
 
rdaner said:
I’m assuming that the company is waiting to sell the land to the highest bidder for redevelopment as the land is worth at least $800m.
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What land is worth 800M?
 
rdaner said:
^Sorry! I was referring to the Queen St. site. My bad.
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Ok...

Just as an FYI, 'The Bay' does not own either site.

Brookfield Asset Management has Bloor.

Cadillac Fairview bought Queen many years ago, 'The Bay' is just a tenant.
 
They probably have a pretty sweet deal on rent so that CF doesn't have a huge empty space on their hands. They both need each other.
 
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zang said:
I dunno, The Bay had that exact thing for about 30 years…
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Yes, they did - and they had to close one. Besides, Simon’s at the Eaton Centre is not even open yet. Why would they take the risk of signing a lease for an even bigger space when they don’t even know if their first downtown Toronto store is going to be successful? Bear in mind that they’ll be sharing the EC space with Eataly’s and at least one other tenant, so that Simon’s is nowhere close to 220,000 sq ft.
 
Rascacielo said:
Yes, they did - and they had to close one. Besides, Simon’s at the Eaton Centre is not even open yet. Why would they take the risk of signing a lease for an even bigger space when they don’t even know if their first downtown Toronto store is going to be successful? Bear in mind that they’ll be sharing the EC space with Eataly’s and at least one other tenant, so that Simon’s is nowhere close to 220,000 sq ft.
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Oh I know, I was just pointing out that both were in near identical proximity for quite a long time; long enough to make me believe it was profitable (for a while at least). It's too big a space for a Simon's anyhow.
 
Primark!
 
zang said:
Oh I know, I was just pointing out that both were in near identical proximity for quite a long time; long enough to make me believe it was profitable (for a while at least). It's too big a space for a Simon's anyhow.
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In Mexico City, it's common to find department stores with multiple branches within close proximity. Most of them still have in-house restaurants /cafeterias too, which seem to be popular with shoppers. I suppose the density helps - 20 million people in the metropolitan area vs 7 million in ours - but Mexicans also seem to still prefer shopping in brick-and-mortar stores vs online.
 
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