Bombshell claims about Whole Foods closing not just one, but multiple Toronto locations have been circulating on social media as of Friday morning fr…
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On Dec 2, 2016,... on UrbanToronto as poster "SunnyRayToronto",... I posted:
- "WholeFoodsMarket at HullmarkCentre opened in Fall 2014,... usually commercial lease are 5 years or multiples of 5 years terms thus, I picked 2019 & 2024 as years they're likely to close down."
I foresaw WholeFoodsMarket closing at HullmarkCentre due to it being a bottomless money-pit,... but why was my closing date off? Because rich-daddy Amazon acquired WholeFoodsMarket in August 2017,...
Especially since it wasn't his fault, except insofar that Council as a whole made bad decisions.
urbantoronto.ca
This WholeFoodsMarket occupies Ground Floor Retail Space with Yonge St frontage at Tridel HullmarkCentre,.... which is twice as expensive VS basement & 2nd-floor retail space in the same area on a cost per square footage (purchase & rent),..... very few would dare to build full size supermarket retail space on ground floor with Yonge St frontage,.... it can't compete against smaller urban-format supermarket on cheaper 2nd floor! There's 2 nearby, Longos (opened July 2019; 40,000sqft - not "urban" but just smaller format) on 2nd floor of YongeSheppardCentre and FoodBasics (opened Oct 2021; about 30,000sqft at EmeraldPark)
Shortly after WholeFoodsMarket opened at Tridel HullmarkCentre in Sept 2014,.... why did I predict they would fail?
- since about 2010, Tridel HullmarkCentre & Bazis EmeraldPark (green building) started construction about same time,... originally Loblaws' T&T brought into 2nd floor of EmeraldPark but bailed pre-construction due to Bazis BS promised delivery date,... in 2012, Metro acquired EmeraldPark's 2nd floor to build a new concept Metro store with market station and focus on ready-made-food for all the area condo folks,.... Metro observed as WholeFoodsMarket opened across the street in Sept 2014 - very low customer volume - only look busy because cafe out front but supermarket had low volume! Why? All their Market Research says area has younger demographic with higher-income - ideal customer base for WholeFoodsMarket and higher end grocers! But they failed to look at the FOB-factor!!! Ethnic diversity of area is 25% Chinese, 15% Persian, 12% Korean, 7% Filipino,.... and a lot of them still prefer their own ethnic food since this is the "New Spadina" - they're still relatively new to Canada,... Fresh Off the Boat! So by June 2015, Metro stopped all renovation of their 2nd floor store (HVAC & Piping done) - their "Coming Soon" LCBO refused to open for years without a supermarket next door,....
The timing of WholeFoodsMarket closure is unfortunate,.... as nearby EmpressWalk Loblaws is already scheduled to close October 26, 2025,.... and it's T&T replacement likely with FoodCourt won't be open until late Summer 2026 at earliest,... but there's still YongeSheppardCentre's Longos and EmeraldPark FoodBasics along with Urban H-Marts and Galleria to service the area,....