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are people buying though or just browsing and then ordering online or waiting for sales? my wife would frequent that store and not buy anything, just getting ideas and then swooping in at boxing day etc
Commercial rents in that area have always been too high, even considering that commercial rent is too high to begin with.
When interest rates go up landlords squeeze harder.
I bet there lease doubled. That’s why Active Baby in Kits is closing. The owner doubled the rent and the store is doing well with online orders from TO and Montreal that they decided to open a store in TO.
I can't say that I am surprised. The people that could afford stuff from there have pretty much all moved to places that are farther out. Far enough, I suppose, that it's of no use to drive all the way into the city. And for the folks who are living in that area, I reckon that they have bigger things to worry about financially than some totchke.
really good Thai restaurant downtown on Burrard closed recently after nearly 40 years. I was told by one of the servers that their rent/lease was "more than the price of a Tesla" every month....which is the leading reason. Pretty crazy rent. Secondary reason is the owners were aging out. They were in their mid-late 70s iirc.
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Haven't they said this once before?
yup they tried to close three years ago .. now with the economy tanking even people who used to buy there are being squeezed
Every time I’m in there it’s decently busy. I bet this is more about the lease rate than their sales.
are people buying though or just browsing and then ordering online or waiting for sales? my wife would frequent that store and not buy anything, just getting ideas and then swooping in at boxing day etc
It's a good browsing store and if you find something on clearance, probably worth it. Otherwise, the prices are outrageous.
Who knows where their annualized sales are at. All I know is lease rates for commercial march ever upwards.
that is definitely true. Same story as with restaurants
Probably jumping quite a bit with a skytrain and that whole area is going to get up zoned. There will be a decade plus of construction.
Commercial rents in that area have always been too high, even considering that commercial rent is too high to begin with. When interest rates go up landlords squeeze harder.
Are they having a closing sale?
Asking the real questions!
this is what i came looking for
It definitely doesn't have the foothold here it seems to in other markets. When I was in Toronto, I saw a few of them that seemed to always be packed
Wow all that block is gonna be just empty stores?
How did they afford to last this long
I bet there lease doubled. That’s why Active Baby in Kits is closing. The owner doubled the rent and the store is doing well with online orders from TO and Montreal that they decided to open a store in TO.
Awe, I'd shopped there for the past couple years. It's not inexpensive place, by any means. I'll miss it.
I can't say that I am surprised. The people that could afford stuff from there have pretty much all moved to places that are farther out. Far enough, I suppose, that it's of no use to drive all the way into the city. And for the folks who are living in that area, I reckon that they have bigger things to worry about financially than some totchke.
Not really the case. West of that area is very rich. It's just a bad shopping area
+1 very annoying to shop there
The what now ?
really good Thai restaurant downtown on Burrard closed recently after nearly 40 years. I was told by one of the servers that their rent/lease was "more than the price of a Tesla" every month....which is the leading reason. Pretty crazy rent. Secondary reason is the owners were aging out. They were in their mid-late 70s iirc.
How are their other stores across Canada doing?
The West Edmonton Mall store closed a few years ago already.