GKW
Active Member
Footlocker is moving into those combined empty stores across from the fountain leading to to Queen station in the spring...not sure why, as they already have a huge store across the street
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pw20
Active Member
Nordstrom to replace Sears. No word on square footage - but the renovations will be $400M.
bAuHaUs
Active Member
213,000 square-foot, three-level store is set to begin in March 2014, with the store opening slated for fall 2016.
AlvinofDiaspar
Moderator
400M sounds like a pretty major amount that would pay for some significant structural changes.
News release: http://www.newswire.ca/en/story/1289623/nordstrom-to-open-at-toronto-eaton-centre
AoD
News release: http://www.newswire.ca/en/story/1289623/nordstrom-to-open-at-toronto-eaton-centre
AoD
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devjohnson
Active Member
I can't believe we're going to have a giant unused bunker for two and a half years though.
They better be gutting this building from head to toe. This better be worth the wait. I would love to see them make better use of the Yonge Street frontage, maybe a collection of mini stores?
They better be gutting this building from head to toe. This better be worth the wait. I would love to see them make better use of the Yonge Street frontage, maybe a collection of mini stores?
AlvinofDiaspar
Moderator
There will still be quite a bit of space left even taking into account the Sears office lease - it will be interesting to see what they have planned since the accessibility of those floors will be limited given the current arrangement.
AoD
TOareaFan
Superstar
It must be tough for large retailers looking at the Canadian market. These expansions into Canada take a lot of time and cost a lot of money and the market in which you do your planning may not exist when you do your execution. Last year, Macy's would have been looking at Canada and seeing a robust economy, leading the g8 in growth and with consumers relatively debt comfortable and spending their at par canadian dollars.....it would have pointed to a strong market with higher profit margins than they were seeing in their home markets.
Now, in a relatively short time, the market looks a bit different. The consumer debt level warnings are growing, the country is no longer a growth leader and the disposable income dollars that the consumer is spending are only worth 91 cents when you bring them back to head office......today you might be looking and wondering if those hoped for profit margins would actually materialize.
donoreo
Active Member
Huge deal really. I guess three floors are enough if Sears is keeping it's head office there. You know, until they go out of business anyway.
devjohnson
Active Member
So Nordstrom is taking the upper three stories of the mall. I assume that the street level floor will be the "first". Anybody know who will be taking the bottom levels that connect to the mall? I wonder if Cadillac Fairview will add strips of retail on the bottom two floors that will connect to H&M/Subway concourse.
Skeezix
Senior Member
I'm not sure that the Nordstrom three storeys are all necessarily above-grade. Did it say that somewhere? (I could have missed it) I assumed Nordstrom would want 1 Below with interior mall frontage. Maybe Cadillac wanted to keep it.
If Sears keeps four upper storeys for its head office (waste of space), and Nordstrom takes three storeys, that might, or might not, account for the entirety of the store. It was originally 10 storeys, but 3 Below was given up decades ago, and 2 Below was given up when the original Eaton's went bankrupt (prior to the short-lived eatons). That leaves 8 floors, so there still might be some free space, depending on which upper floors Sears is using, how they are counting storeys and whether Cadillac keeps 1 Below. 213,000 square feet seems like a relatively small square footage for 3 storeys, given that the original 10-storey store was reportedly 1,000,000 sq. ft.
Having said all that, I am terrible at math, and my memory of the store is hazy (given I stopped going once it became Sears), so please let me know if my numbers are off.
If Sears keeps four upper storeys for its head office (waste of space), and Nordstrom takes three storeys, that might, or might not, account for the entirety of the store. It was originally 10 storeys, but 3 Below was given up decades ago, and 2 Below was given up when the original Eaton's went bankrupt (prior to the short-lived eatons). That leaves 8 floors, so there still might be some free space, depending on which upper floors Sears is using, how they are counting storeys and whether Cadillac keeps 1 Below. 213,000 square feet seems like a relatively small square footage for 3 storeys, given that the original 10-storey store was reportedly 1,000,000 sq. ft.
Having said all that, I am terrible at math, and my memory of the store is hazy (given I stopped going once it became Sears), so please let me know if my numbers are off.
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1 Below will become part of the mall: Nordstrom will be at ground level and on 2 and 3. It's possible that some parts of the ground floor may end up in other hands too. Sears (bizarrely) is keeping 4 and above for its offices. We are working on a story about mall expansion and renovation in the GTA now, destined for the front page later today!
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W. K. Lis
Superstar
Darn. Its not Shinsegae (South Korea) or Harrods (England).
ShonTron
Moderator
Some of the space at the far northwest corner might be kept for the elevators and reception for Sears' offices on the upper floors. Still, 213,000 sq. ft. is a big store, about 50,000 more square feet than a typical Walmart Supercentre.
The numbering of the floors is slightly confusing as Eaton Centre and Eaton's/Sears used different orders.
In the Eaton Centre,
Level 0 is the food court (former Eaton's floor 3B)
Level 1 is the corridor where Old Navy is and the dead corridor to Canadian Tire/Mark's, continues south to Richtree and Queen Station/Bay. This was former Eaton's floor 2B, taken over post 1997 bankrupcy.
Level 2 of the Eaton Centre is the lowest level of Sears - men's clothing and such (Eaton's/Sears floor 1B). This continues to street level at Queen Street to the south and the southbound trains entrance to Dundas Station to the north.
Level 3 is the old Eaton's Main Floor (now Jays shop, shoes, luggage, cosmetics, etc), street level at Dundas Street, Apple Store/Bay bridge on south end.
Eaton's/Sears floors continue with 2, 3, 4, 5.
There is a Level 4 in the Eaton Centre, equivalent to Level 2 of the store, but it is used only for Mr. Greenjeans, Lenscrafters, 2nd floor entrance to Indigo and access to elevators for parking and offices.
Sears offices are the former Eaton's floors 6, 7, they'd be equivalent to the Eaton Centre's Levels 8 and 9 if they existed.
What is Sears/Cadillac Fairview going to do with Levels 4 and 5 of the store? Did nobody want them?
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Skeezix
Senior Member
I didn't mean that 213,000 sq. ft. is a small store generally, but rather that 213,000 sq. ft. didn't seem to account for three full storeys of that particular store.
Skeezix
Senior Member
Harrods is awful. Of all the British department stores I'd wish would come to Canada, that would be pretty far down the list.
I am unfamiliar with Shinsegae, but it looks cool.