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Sitings News Fall 2012

September 20, 2012

Toronto ICSC – October 15-17, 2012

Come visit us at booth #2018.

Sitings is going paperless – all brochures will be emailed to you on site via iPad.

See you there!

The Plaza @ New Westminster Station Takes New Ownership

New West Station

The Plaza @ New Westminster Station was sold to First Capital Realty in May, 2012.

Developed by Degelder Construction, the three-level shopping centre contains 200,000sf of retail space and a 422 stall parking garage.

Sitings Realty was solely responsible for leasing over 85% of the shopping centre and participated in the sale of the asset when it was sold in May, 2012. The centre is anchored by Safeway, Shoppers Drug Mart, Landmark Cinemas, Dollar Tree, RBC and CIBC.

This development is an example of the future of retail transit projects in Greater Vancouver, which cater to the density in the neighbourhood and connect to public transit lines. The Plaza connects to the New Westminster bus loop and the Expo SkyTrain Line which travels directly through the shopping centre, in addition to three residential towers totaling over 750 units. Approximately 250,000 SkyTrain passengers travel through the station each week.

Congratulations, First Capital!

Click here to view the article.

 

West 4th Avenue Retail Opportunities

Two retail opportunities are now available for lease on West 4th Avenue in Kitsilano, one of Vancouver’s most popular retail strips. The sites are located between Burrard and Fir Street.

The area is central to three of Vancouver’s top high-traffic retail destinations: West 4th Avenue, South Granville Street, and West Broadway.

This is a high-density residential area with over 26,000 residents living in a 1 kilometre radius and a daytime population of over 37,000.

Area tenants: No Frills, Billabong, BoardRoom, Westbeach, Pacific Boarder, Comor, Different Bikes, Maserati, Ferrari, Aston Martin, BMW, Porsche

 

West 4th & Fir Street:17,000 sf 

Radius RenderingUp to 17,000sf of retail space is available for lease at Ledingham McAllister’s mixed-use development at West 4th Ave and Fir Street. This development is called ‘Radius’ and will feature street level commercial CRU’s and residential units above.

Immediately next door is a new mixed-use project with a 20,000sf No Frills and three storeys of residential units.

For more information please contact Dan Clark (dan@sitings.ca, 604.628.2577).

View the brochure.

 

1731 West 4th Avenue 

1731 W 4th Rendering - Jan2013 brightened w sky

1731 West 4th Ave is a two level retail building totaling 8,000sf.

Located between Burrard and Pine Street, this site provides exposure to the 43,000 vehicles that travel Burrard Street each day.

The building will get a full facelift with a brand new interior and exterior.

For more information please contact Shannon Richardson (shannon@sitings.ca, 604.628.2582).

View the brochure.

 

Wesbrook Village: BC Liquor Store Now Open

Wesbrook Photos High School & BCLWesbrook Village is UBC’s 100 acre world-class sustainable South Campus neighbourhood whose heart and soul is an urban commercial Village featuring a 33,000sf Save-On-Foods, the University Hill High School, a community centre, the Sauder School of Business MBA House, a senior’s residence, and over 25 restaurants, shops and services designed for everyday needs.

Shoppers travel to the site from across Vancouver’s affluent Westside, a trade area of 50,000 people with average household incomes in excess of $125,000 per year. Additionally, the UBC campus has a daytime population of over 45,000 faculty, staff and students.

BC Liquor Stores, Vickis Nail Salon, More Bikes and Menchie’s Frozen Yogurt have all opened in the past month.

650 to 5,600sf of retail space is now available, including a 5,600sf end cap restaurant opportunity with a patio.

Second floor office, professional and studio space up to 12,000 sf is also available.

Wesbrook Village will be home to over 6 million square feet of residential space when complete.

Get acquainted with Wesbrook Village! Visit the free Wesbrook Village Festival, September 22nd 11am-3pm.

Co-Tenants: Save-On-Foods, BC Liquor Stores, Westland Insurance, Running Room, RBC, Blenz, Togo Sushi, Menchie’s Frozen Yogurt, Jugo Juice.

View the brochure.

For more information please contact Nick Fisher (nick@sitings.ca, 604.628.2581).

Tri-City Mall - Cold Lake, AB

Tri-City AerialTri-City Mall in Cold Lake, Alberta is undergoing a remerchandising plan and has many retail opportunities available from 400 to 55,000sf.

Cold Lake is approximately 240km northeast of Edmonton and 130km north of Lloydminster with a trade area of 70,000 people and an average household income of over $110,000.

The local economy is driven primarily by the oil industry and the Air Force, as Canada’s largest Air Force base is located just outside the city. Cold Lake is central to several major oilfield expansion projects including Imperial Oil’s $2 billion processing plant project, which has resulted in a hot local real estate market.

According to Ozzie Jurock of the Jurock Real Estate Insider, as of August condo and detached home sales for 2012 had already exceeded 2011 sales volumes, while the average price increased by 6% to $344,649. Rental vacancy rates fell from 4.9% in April 2011 to 0.3% in April 2012. He adds that Cold Lake has the second highest rental rates in the province after Fort McMurray.

Cold Lake becomes a busy lake town during the summer months.

Neighbouring Tenants: Canadian Tire, Sobeys, Staples, Mark’s, Shoppers Drug Mart, Sobeys Liquor Store.

View the brochure.

For more information please contact Dan Clark (dan@sitings.ca, 604.628.2577).

60 West Cordova Street: One unit left!

60 West CordovaWith the project 75% leased, there is now only one unit left at 60 West Cordova Street in downtown Vancouver’s historic Gastown district.

This mixed-use development is comprised of four street-level CRU’s and 108 residential units. All residential units are sold out.

Gastown is a preserved heritage zone neighbouring Vancouver’s business district, the SeaBus Waterfront Station, the West Coast Express train station, and the Canada Line SkyTrain.

The remaining unit is 1,230 sf and has the option of adding a 445 sf mezzanine. Excellent exposure to 22,700 vehicles per day on West Cordova Street.

Co-Tenants: TakeFive Cafe, Rubi & Kino fashion boutique, TUC Restaurant.

Area Tenants: London Drugs, Army & Navy, Nesters Market, Charles Bar, Nicli.

View the brochure.

For more information please contact Shannon Richardson (shannon@sitings.ca, 604.628.2582).

Pine Centre - Strathmore, AB

Pine Centre PhotoLocated approximately 35km east of Calgary on Highway 1, Pine Centre is a high visibility, high traffic shopping centre in Strathmore AB. Shadow anchored by No Frills, Canadian Tire, and Mark’s Work Wearhouse, the site has excellent access to the highway via a signalized intersection.

The site caters to a trade area of 25,000 people. The building backs onto Highway 1 and offers excellent signage opportunities. An endcap up to 3,500 sf is currently available.

Co-Tenants: Canadian Tire, No Frills, Real Canadian Liquorstore, Boston Pizza, Tim Hortons, McDonalds, Taco Time, Edo Japan, Quiznos.

View the brochure.

For more information please contact Nick Fisher (nick@sitings.ca, 604.628.2581).

39th & Fraser Street: Karma - Vancouver, BC

5498 Fraser Street PhotoKarma is a mixed-use project that encompasses 6,000sf of street-level retail space and 51 residential units. The development is conveniently located in the Kensington-Cedar Cottage neighbourhood of southeast Vancouver, a densly populated area with over 36,000 residents in a 1km radius.

Fraser Street is a busy corridor that provides access to local residents and daily commuters (approximately 24,000 vehicles per day).

This property has great access to public transit and is ideal for a destination user. There is underground parking dedicated to commercial tenants.

Area Tenants: No Frills, Shoppers Drug Mart.

View the brochure.

For more information please contact Shannon Richardson (shannon@sitings.ca, 604.628.2582).

Saltaire Mixed Use Development - White Rock, BC

Saltaire RenderingSitings is leasing up to 10,000sf of retail space at Ledingham McAllister’s new mixed-use development in White Rock, BC. The project will encompass two phases of retail and residential space.

White Rock is an affluent suburb located in South Surrey. The average household income is over $100,000 within a 5km radius of the site.

This corner provides visibility to over 27,000 vehicles per day on Johnston Road.

Semiahmoo shopping centre is in close proximity to the site, which is home to PriceSmart Foods, BC Liquor Stores, major banks and Shoppers Drug Mart.

View the brochure.

For more information please contact Shannon Richardson (shannon@sitings.ca, 604.628.2582).

Millstream Village – Victoria, BC

Millstream Village is a 250,000sf regional power centre located in one Vancouver Island’s most significant retail destinations.

This retail node contains over 500,000sf of space and a strong mix of national tenants like Costco, Home Depot, Future Shop, Staples, and Home Outfitters.

Four units are available ranging in size from 1,050 to 5,000sf. U Weight Loss is a new tenant at the centre, having recently leased a 1,100sf space.

Co-Tenants: Michaels, Petsmart, Golf Town, Pier 1 Imports, Everything Wine, Tom Lee Music, U Weight Loss.

For more information please contact Dan Clark (dan@sitings.ca, 604.628.2577).

Extreme Pita Opens 6 New BC Stores

Extreme Pita StorefrontExtreme Pita (www.extremepita.com) has been busy in BC, opening 6 new locations and renovating 4 others.

The company is planning expansion for 2012 and beyond. Extreme Pita is rolling out a new store design and expanded menu, which will include state of the art point of sale systems and modern graphics. Renovations are underway on select existing stores to include Extreme Group’s Purblenz smoothie concept. The company is now serving Seattle’s Best Coffee in addition to a new 11 item breakfast menu.

“Extreme Pita is beginning a major expansion of new locations with sites recently opened or signed in New Westminster, Vernon, Kelowna, Kamloops, Nanaimo, Fort St. John and Penticton,” said Dave Martyn, the new BC area developer for Extreme Pita. “Current projections have us doubling in size over the next 24 months.”

Extreme Pita is actively seeking sites throughout BC. Both Food Court and exterior locations will be considered. Exterior locations are 1,000 to 1,200sf.

For more information please contact Nick Fisher (nick@sitings.ca, 604.628.2581).

David’s Bridal to Open 4 More Canadian Stores

Davids Bridal PhotoDavid’s Bridal (www.davidsbridal.com) is the largest bridal retailer in the world with over 300 locations across the US and Canada.

Following the successful Canadian launch of David’s Bridal in Ontario, the bridal retailer now has a total of six Canadian locations operating in the Mississauga, Toronto, Ottawa, Scarborough, Edmonton and Winnipeg markets.

Stores are opening this fall in London and Cambridge, Ontario. Langley and Calgary locations are under construction and will open later this year.

David’s Bridal is currently sourcing a Vancouver location and other Ontario locations in the 7,000 to 10,000sf range.

For more information please contact:

Dan Clark, Eastern Canada (dan@sitings.ca, 604.628.2577)
Stephen Knight, Western Canada (stephenk@sitings.ca, 604-628-2575)

Fields Stores for Sublease

Fields LogoSitings was retained to sublease 23 Fields Stores across Alberta and BC.

Four sites are still available in Leduc, Pitt Meadows, Kamloops and Williams Lake.

For more information please contact Dan Clark (dan@sitings.ca, 604.628.2577).

Spirit Halloween

Spirit Halloween LogoSpirit Halloween (www.spirithalloween.com) will operate close to 60 locations Canada-wide this year.

Spirit Halloween is far and away the best operator in this category and has been in business since 1983. Each year the retailer completes deals with Cadillac Fairview, Morguard, Ivanhoe Cambridge, and others. Fireworks are not sold and typical customers are families.

Stores are supported with radio, billboard and social media advertising which help to drive traffic to the shopping centre. Spirit takes pride in leaving the premises in excellent condition upon leaving, usually in better condition than when they take possession. Ideal store size is approximately 10,000sf.

View the list of 2012 locations here.

View the Spirit Halloween brochure.

For more information please contact Nick Fisher (nick@sitings.ca, 604.628.2581).

XS Cargo Acquired by Karp Reilly LLC

XS Cargo LogoXS Cargo (www.shopxscargo.com) has been acquired by KarpReilly LLC, a private investment firm that partners with premier small- to mid-size growth companies and helps them achieve their long term visions.

As of January, 2012 Duncan Reith stepped into office as the new president and CEO. He brings to the company an extensive background in merchandising with Canadian Tire and Sobeys.

XS Cargo is one of the largest broadline closeout retailers in Canada. The first store opened in Edmonton, Alberta in 1996 and today 45 stores are operating throughout Ontario, Newfoundland, Nova Scotia, New Brunswick and the Western provinces.

Sites are currently being sourced in Western Canada. Ideal store sizes are from 10,000 to 12,000sf, with trade areas of 150,000 people or greater.

For more information please contact Dan Clark (dan@sitings.ca, 604.628.2577).

Sedation Dental Opens 2 More Locations

New Westminster, Burnaby, LangleyThe Sedation Dental Group (www.sedationdental.ca) has recently opened a 3,500sf unit at The Plaza @ New Westminster Station and will open a 2,500sf unit at Meridian Crossing in Coquitlam this fall. This brings the total number of centres to 5, all in the 2,500 to 4,000sf range. Sitings continues to source strong retail sites in major nodes.

According to General Manager Jason Kwon, “Dentistry has become a competitive industry in the past several years. Highly visible dental practices located in ground level units with high foot traffic and easy access to transportation have the upper hand in attracting new patients. Our newest dental practice in New Westminster SkyTrain Station is already experiencing strong growth mainly due to having a strong retail presence, good visibility, easy access and high foot traffic.”

All locations have high quality construction and finishings to maximize patient comfort and appeal.

For more information please contact Nick Fisher (nick@sitings.ca, 604.628.2581).

Creative Kids

Creative Kids Learning Centres (www.creativekidslearningcenters.ca) has recently completed leases on two locations in the South Surrey area. A 3,125 sf location has just opened at Sullivan Square on 132nd Street and a 3,200 sf location is scheduled to open in the Hazelmere neighborhood of Surrey in early 2012.

The typical size is 3,000 to 4,500 sf in affluent residential communities. The company is currently targeting the suburbs of Greater Vancouver.

For more information please contact Nick Fisher (nick@sitings.ca, 604.628.2581).

The Noodle Box is Expanding into BC and Alberta

Noodle Box LogoIntroduced in 2001 as a food cart operation in Victoria BC, The Noodle Box (www.thenoodlebox.net) now has seven fast service restaurant locations in Victoria and Vancouver BC. The Noodle Box features a selection of authentic Southeast Asian dishes prepared daily on site and served in a clean, vibrant and upbeat environment.

Majority interest in the chain was recently acquired by a group with franchise and operational experience. A roll-out strategy has been launched, starting with Calgary and major BC markets.

Sitings Realty has been awarded an exclusive mandate to source new locations.

Ideal sites are street front locations, power centres, strip centres, and high profile stand-alone locations in the 1,400 to 2,000sf range. Full venting is required.

For more information please contact Shannon Richardson (shannon@sitings.ca, 604.628.2582).

Marine Way Market - Burnaby, BC

Marine Way Market PhotoTwo retail spaces are available for lease at Marine Way Market, a busy south Burnaby power centre anchored by Canadian Tire and PriceSmart Foods.

This retail node serves local residents as well as commuters and the local daytime population, which consists of employees from a number of nearby office and industrial parks.

The area is home to over 450,000sf of retail space with a strong mix of national tenants.

Available units are 3,190 and 740sf.

Co-Tenants: Canadian Tire, PriceSmart Foods, London Drugs, Cactus Club Cafe, Reitmans, Mark’s, Addition Elle.

Area Tenants: Big Bend Crossing (300,000sf): Michaels, PetSmart, Winners, HomeSense, SportChek and Staples. Queensborough Landing (415,000sf): Wal-Mart, Lowes, Best Buy, Home Outfitters.

View the brochure.

For more information please contact Shannon Richardson (shannon@sitings.ca, 604.628.2582).

Structube Opens at South Edmonton Common

Structube Storefront PhotoStructube (www.structube.com) is a specialty retailer of contemporary and modern home furnishings and accessories, offering exclusive designs at affordable prices.

Structube is now expanding into Western Canada and has hired Sitings Realty to source new locations in Northern Alberta and BC. The first Western Canadian location opened on September 8th at South Edmonton Common.

Since the day it first opened as a family business, Structube has provided its customers with an exceptional shopping experience. Customers are greeted in beautifully merchandised stores that carry a unique range of quality products.

Over the past 35 years, the company’s commitment and dedication to this vision has enabled it to truly set itself apart from other retailers. Structube now has more than 30 stores and over 200 employees.

Ideal sites are 6,000 to 8,000 sf.

View the 2012 Catalogue.

For more information please contact Nick Fisher (nick@sitings.ca, 604.628.2581) or Dan Clark (dan@sitings.ca, 604.628.2577)

Hudsons Canadian Tap House

Hudsons Canadian Tap House LogoWith eight locations in Edmonton, Calgary and Saskatoon, Hudsons Canadian Taphouse (www.hudsonstaphouse.com) is continuing to expand into the BC market and Sitings Realty has been retained to source new locations.

Canada is full of Irish and English pubs, but Hudsons is a uniquely Canadian pub that provides ‘Canadian Hospitality’ to its guests. Hudsons serves food and drinks from across the country and strives to emulate Canadian qualities by being ‘genuine, fun, inclusive, comfortable and unpretentious.’

Ideal locations are 6,000 to 8,000sf in high visibility locations with maximum signage, outdoor seating and ample parking.

For more information please contact Dan Clark (dan@sitings.ca, 604.628.2577).

2011 Census Results

The 2011 Census results were released early this year. In February the National Post released an article analyzing 2011 population growth, density, migration and immigration trends in Canada.

The article found that Canada is divided into three regions of population trends: Western Canada, Ontario, and Eastern Canada. Western Canada attracted many Canadians this year with its plentiful supply of high-paying resource-based jobs. And for the first time in history, Western Canada’s population is higher than all of Quebec and Atlantic Canada combined.

View the article here.

Featured Real Estate App: Planimeter

Planimeter AppWhat real estate professional could live without this app?

Planimeter measures distances and land areas on a satellite image of the earth. Simply zoom in on the area you want to measure and draw an outline. Perfect for quickly measuring buildings, lots, and frontages.

View Planimeter in iTunes.