Nordstrom is coming to Vancouver
Posted September 13, 2012 8:17 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – It’s official: Nordstrom is coming to Canada.
The Seattle-based retailer will open a Vancouver location in the spring of 2015. Nordstrom’s 238,000-square foot store will take up three of the six floors of the old Sears location at Pacific Centre, but only after space undergoes extensive renovations.
Analysts predict it will attract a whole new group of shoppers to the area and away from high-end competitors on Robson Street.
“Robson would tend to have the same type of stores and might be more competition than [complementary] to Nordstrom, while Granville will probably see just the benefits of the increased traffic,” says James Smerdon, Director of Retail Consulting for Colliers International.
“They will bring a whole bunch of people that may not have come to downtown Vancouver had they not been there, which is traffic for all the shops. No matter whether they shop in Nordstrom, they’re parking somewhere and they’re going to walk by other shops on their way there,” he adds.
Smerdon says commercial real estate values are based mainly on sales, so if Nordstrom does bring more traffic to the area, it could make the real estate around it more valuable, too.
Nordstrom is also planning locations for Calgary, Ottawa, and Toronto.
