CONSUMER REAL ESTATE CANADA
The Takeaways & Trends - Cross-Canada Consumer Real Estate Market Conditions Conference Call
“FROM MAIN STREET TO THE MAIN MALL AND ANYWHERE THAT RETAIL HAPPENS IN CANADA…KEEPING RETAILERS, FOOD SERVICE SPECILISTS, E-COMMERCE MERCHANTS, ECONOMIC DEVELOPMENT PROFESSIONALS, RETAIL SPACE BROKERS, BUILDING OWNERS & DEVELOPERS, AND INDUSRTY SUPPLIERS CONNECTED!”
NEW: Consumer Real Estate Canada is launching a weekly half hour Zoom chat called “CREC Talk Shop” to discuss current events and tends in the Canadian consumer real estate industry. The inaugural CREC Talk Shop will be hosted by Slava Fedossenko, CREC Advisory Panel Lead and is scheduled for Wednesday October 13, 2021, at 9:00AM MST. The industry guest will be Matt Dunn, Real Estate Manager with McDonald’s Restaurants of Canada Limited who will provide his insights into the QSR real estate business. Watch for a Zoom invitation in your in-box in the coming days.
Hello fellow Canadian consumer real estate professionals, we hope you enjoyed the recent CREC update on Canadian consumer real estate market conditions. Here are the takeaways and trends from our call on Sept. 20, 2021, complied by the call moderator Michael L. Kehoe.
Trending in Canada:
The Takeaways…regional call contributors reporting:
Newfoundland & Labrador - Nikki Poole CBRE – email@example.com
Atlantic Canada – Vicki Carr – Hardman Group – firstname.lastname@example.org
Quebec - Tony Flanz – Think Retail - email@example.com
Manitoba – Michael Stronger - Shindico Realty - MStronger@Shindico.com
British Columbia - Neil McAllister – Lee & Associates - firstname.lastname@example.org
Notable Industry Trend from Stan Boniferro – Stabon Enterprises in Toronto - Stan.email@example.com
Update on Consumer Real Estate Canada from CREC Advisory Panel Lead - Slava Fedossenko CRRP – Avenue Living - firstname.lastname@example.org
I am pleased to provide an update on Consumer Real estate Canada. CREC is a Canadian not-for-profit industry organization run by volunteers, and there are no membership fees.
Most of our participants are members of BOMA, Urban Land Institute, Retail Council of Canada or ICSC. The purpose of CREC is to complement our memberships in these industry organizations and provide a forum with educational content and in-person events that are uniquely Canadian! created by Canadians who have a consumer real estate focus.
We have set up a ‘Go-fund-me’ account to cover CREC costs and it is completely voluntary. Your contributions help to cover fixed costs such as website hosting, logo design, etc. and are vital to keep the group healthy and growing. Watch for the link to the Go Fund Me in the Takeaways emails that you receive from Mike following each call, and thank you for your contributions - Consumer Real Estate Canada GoFundMe
Further, I can share An Update on the website & social media platforms: you can now visit www.crec.live where you will find links to our LinkedIn and Facebook pages, any upcoming event registration links, and soon, a database of all of the CREC Takeaways emails going back to the early days of the group in 2020.
The Advisory Panel will meet in the coming weeks to begin working on a new initiative for CREC involving video, to bring more engagement and education into our offerings. You can volunteer to help plan regional events or to chart the future course of CREC as part of the Advisory Panel. Just reach out to myself or Mike following the call if you are interested in joining or just getting more information. Our contact info is available in any of the Takeaways emails and we look forward to hearing from you!
Our special guest was Craig Patterson the Editor in Chief at the Retail Insider, Canada’s most read on-line industry publication who provided an update us on the Canadian retail scene.
Here is a summary of Craig’s comments on the Call:
Government subsidies ending, uncertainty (rent/staff support), E-commerce is still growing/important but physical retail is picking up steam, new brands continue to enter the Canadian market, retail and food, more to come.
Specsavers entered the Canadian market earlier this year, and Under Armour expansion to West Edmonton Mall. Oscar Wylee entering Canada, Sleep Country expanding with new stores,
Walmart partnership with Casper mattresses, Hudson’s Bay innovating, doing second-hand baby, SpaceNK.
Raptors partnership, downsizing stores, shut basement in Regina store, CSO Canadian Shoe Outlet shutting, and Ikea opening small-format design studios in GTA, could expand further.
Ghost kitchens a major trend, inflation hitting food and other sectors, changing consumer spending patterns, food halls: several either opened or will be opening, suburban Montreal and several in downtown Toronto on the way.
GAP owned Athleta enters Canada Park Royal is the first, Ivanhoe Cambridge is divesting more properties, Mic Mac Mall, Bayshore, Guildford, appointed JLL to lease. Decathlon continues to expand, luxury brands doing well generally, sales up over 2019, Walmart bolstering operations, investing heavily.
Amazon also investing heavily, will be making more announcements into the fall, Nike expanding flagship concept, Ray-Ban expanding, direct-to-consumer push, Cannabis in malls: CF conservative, interesting move.
Bentley Leathers: expanding airport concept, Mondou-Ren’s Pets expansion after acquisition, Frank and Oak: expansion plans under new ownership/management, Grocery disruption: Couche-Tard, smaller-format stores, supply chain nightmares, Rexall partners with DavidsTea.
Staffing for retailers is a struggle, vaccine mandates, vaccine passports, mask mandates coming back.
LL.Bean Dartmouth Crossing, more to come, Ivanhoe Cambridge sells Mic Mac Mall to investors
Celine opens at Yorkdale, TWG Tea, Alexander McQueen, others renovating. Yorkdale vs. Yorkville for high-end retail, 1000 cannabis stores now in Ontario, Union Station: incredible retail mix on the way with details to come,
Prairies: WEM marks 40 years with new Virtual Land, Oscar Wylee 1st in Canada, Blu’s Womenswear opens, Under Armour 2nd in Canada (full-price), Toyota Experience Centre, Oak + Fort, Edmonton City Centre will see redevelopment, maybe not the best strategy, Manulife Place overhaul on pause temporarily\
BC / Vancouver:
Gastown getting hot, CNTRBND relocating, Maison Kitsuné opening. Allbirds doing 1st store on W. 4th, other trendy retailers as Kitsilano picks up, Barry’s Bootcamp opens, could do more in Vancouver area.
E-mail - email@example.com