Target Canada departure will affect your shopping landscape
Posted January 15, 2015 3:47 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – The departure of Target in Canada will affect the look of many local shopping centres.
David Bell with Colliers International says says it’s tough to break up such a significant amount of space. “These spaces range from as small as 70,000 square feet to as large as 120 or more. That’s a lot of space to fill with a single tenant.”
He says a challenge is redemising the locations. “Taking an existing box and breaking it up into smaller boxes to re deploy them for a mix of tenants, a range of tenants.”
Bell says larger malls with three or more anchors will see less of an impact but some malls have relied on Target as the major anchor.
“You’re talking about Richmond, in Delta, Scottsdale Centre, Central City in Surrey, Coquitlam Centre, Maple Ridge you’ve got Haney Place Mall, Chilliwack you’ve got Cottonwood mall, Abbotsford Power Centre,” he says. “Some of that is going to be looking to prime replacement tenants and that’s going to be a challenge.”
