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FACTS, RUMOURS & RUMBLE
SPRING 2014

The Aquilini Investment Group has recently acquired Toptable Group, the parent company to the well-known Whistler staple Araxi, and Vancouver restaurants CinCin, the Bluewater Café, West, and Thierry Chocolaterie. Roots Athletica is expanding on Robson Street. The flagship store is anticipated to have a complete renovation of its interior and will take over the adjacent retail space at 789 Burrard Street. Construction is anticipated to start in April. Japanese fashion giant Uniqlo is rumoured to be in negotiations with several Canadian landlords which could see them opening stores in our market as early as 2016. All-Star Wings and Ribs is opening at 808 Bute Street, fronting on Robson Street. This is the franchise’s first location in the Lower Mainland, and eighth in Canada. Sources indicate that upscale Belgian fashion label, Sarah Pacini, is set to open Toronto, Montreal, and Vancouver stores. Pomellato Jewellers, an Italian icon, is opening its 1st Canadian location in Vancouver’s Pacific Centre. Currently, Canadians are only able to purchase the high fashion jeweller’s pieces at specialty boutiques. Nordstrom Rack is delaying Canadian openings until 2017 instead of 2015 as it looks to contain expenses and avoid a repeat of Target’s fumbled Canadian debut. Successful women’s wear brand, Judith Charles, opened on West 4th earlier this month. This is the Canadian retailer’s third location in Vancouver. Featuring contemporary European cuisine, Cinara Eatery opened at 350 West Pender Street. The restaurant is owned by La Pentola owner, and award-winning chef, Lucais Syme and his wife. Ex-Top Chef Canada contestant, Jimmy Stewart, is set to open a new restaurant called Blacktail Florist April 2 in the old HousexGuest space at 322 Water Street. Exile Bistro recently opened its doors at 1220 Bute Street. The restaurant is focusing on “plant-forward” cuisine, in which everything will be locally sourced. A new restaurant concept, called The Fat Badger, will open soon at 1616 Alberni Street. From the owners of Espana on Denman, this new British Gastropub will open in the former Le Gavroche space and will feature proper British fare. Red Truck Brewery & Diner at 315 East 1st Avenue is set to open in April of this year. The anticipated Mark James Group project will join a host of new microbreweries in the Mount Pleasant neighbourhood including 33 Acres, Brassneck Brewery and Main Street Brewing Company. New restaurant “Kuro Restaurant and Bar” will open at 1233 Hamilton Street in the former Merimekko space. The new concept will focus on Japanese Asian fusion cuisine. Kelowna based Prohibition Brewing Co. has opened a tasting bar in Yaletown at 1269 Hamilton Street (formerly Caché Bistro and Lounge). The Papa Furs building, at 303 West Pender, is nearing completion of its renovations. The building features two floors of retail, both at grade, and is perfectly located between historic Gastown and the Central Business District. In an effort to modernize British Columbia liquor laws, the provincial government has announced a series of changes in March. Highlights include:

Recently Leased

Shops at West - 105 - 167 West 2nd Avenue, Vancouver

Hotel Blu - 175 Robson Street

Royal Centre - 1055 West Georgia Street

The price all liquor retailers pay for product will be consistent across the board; Grocery stores will be allowed to sell liquor through a “store within a store” model or VQA wine may be sold off designated shelves with a VQA license;

900 West Hastings Street

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The updating of the regulations around the transfer and relocation of liquor store licenses, including the elimination of the 5KM restriction on movement; and A continued moratorium on the issuance of new liquor store licenses.

The acquisition of Canada Safeway, by Sobey’s Incorporated, has resulted in the sale of 30 Western Canadian locations – the bulk of which were sold to the Overwaitea Food Group and Federated Co-operatives Limited. 12 of the 30 stores are located in British Columbia and represent a mix of Safeway, Thrifty’s and Sobeys locations. The Oakridge Mall redevelopment has been approved by the Vancouver City Council. Plans for the site, which has sparked much debate from all sectors of Vancouver, will include over 1.3 million square feet of retail space, 424,260 square feet of office space, a childcare centre, a new community centre, an expanded library, and a seniors’ centre. Westbank’s new development, Vancouver House, had its first public foray this month with the opening of an unusual exhibition regarding the building’s evolution. “Gesamtkunstwerk” is being curated by Bjarke Ingels – the architect behind the Vancouver House design, and Trevor Boddy, and features more than 250 drawings, renderings and diagrams, and 200 models and artifacts. Petcetera has filed Chapter 11 for the second time since 2009. The restructuring will involve all 19 of its current Canadian locations, nine of which are located in British Columbia. Staples announced it will be closing 225 stores within the United States and Canada. The closures represent a 12% reduction in the office supplies giant’s bricks and mortar presence. Future Shop and Best Buy announced in January that they would be closing 15 stores nationally and letting go of 950 employees throughout their Canadian locations.

569 Howe Street

303 West Pender Street

15 West Cordova Street

1323 Robson Street

VIEW MORE LISTINGS GLOBAL RETAIL HIGHLIGHTS 2013 2013 YEAR END SHOPPING CENTRE SURVEY

Contact
Sherman Scott
Associate Vice President T: +1 604 662 2663 M: 778 388 2663 F: +1 604 661 0849 Sherman.Scott@colliers.com

Owen Louis
Associate | Retail T: +1 604 662 2619 M: +1 604 808 6757 F: +1 604 661 0849 Owen.Louis@colliers.com

Margaret Bowden
Sales Assistant T: +1604 662 2677 M: +1 778 288 0599 Margaret.Bowden@colliers.com

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