Dominion Lending Centres Clearlease Reports More Americans demanding Canadian retail space, will drive up rents RioCan Real Estate Investment Trust (TSX:REI.UN)
VANCOUVER, BC (June 9, 2011) Dominion Lending Centres Clearlease Reports Canada’s largest shopping mall owner expects store rents to increase in the next few years as more American retail chains head north, driving up competition for prime retail spaces.
RioCan Real Estate Investment Trust (TSX:REI.UN) said Thursday June 9, 2011 it is currently in talks with American chains like Target Corp., Dollar Tree and overstock seller Big Lots about their plans to move to Canada.
The U.S. chains are part of a wave of retailers looking north to sell their goods to Canadians as they see little growth in the already competitive market at home and keep their eyes on stronger retail sales in Canada.
But those American chains will have to fight to occupy the limited available retail space in the country, or wait for it to be built.
U.S. discount chic giant Target plans to build some brand-new stand alone stores, expanding on its plan to simply take over the leases for current Zellers locations and set up shop by 2013, RioCan CEO Edward Sonshine said Wednesday after the company’s annual general meeting in Toronto.
“Target is only the very large front end of the spear,” he said about the growing number of American retailers heading to Canada.
“It’s going to be great if you’re Canada’s biggest landlord. More demand for space usually equals higher rents,” he said.
Sonshine said the company is focusing on building brand new stores in Calgary and urban areas of Toronto, with construction on one store in Canada’s largest city slated to begin by the end of the year.
He added that discount clothing retailer Marshalls, which entered Canada this year, wants to expand to nearly 100 more locations across the country, as sales are “blowing the lights out.” Clothing store Urban Outfitters also has plans to expand in Toronto.
Major U.S. retailers, department stores and mall chains are expanding into Canada as a way to try out international expansion without the risks of heading to very different markets in Europe or Asia.
They’re looking for new customers and hope that Canadians will be ready to open their wallets by 2012, when the first bunch start moving in. Canadian retail landlords are already sprucing up their malls, and building new ones to attract the best tenants.
Earlier this year, RioCan announced a 50-50 partnership with U.S. mall operator Tanger Outlet Centers that will see up to 15 American-style outlet malls in Canada. The deal is worth up to $1 billion.
Sonshine said a rival mall development by Calloway REIT (TSX:CWT.UN) only a few kilometres away from RioCan’s site in Halton Hills, Ont. is delaying that development slightly, but the other RioCan outlet malls should start opening across Canada between 2013 and 2015.
CB Richard Ellis, a commercial real estate financing and management company, said it appears demand is rising, even though there isn’t yet any firm data that indicate how much rents could increase.
“We’re seeing demand for all different format types, different classes, everyone from high fashion to discount retailers, which will have different space requirements” said Ricky Hernden, a senior research analyst at the firm.
“With vacancy already pretty tight across the board, any influx of demand will cause rent increases.”
But higher rents don’t necessarily mean that stores will raise their prices to make up the difference, said international retailing instructor Brent Barr at Ryerson University.
He said that stores could increase their marketing expenses to bring in more sales, which could help to pay for higher rent.
“Yes, you may pay more money for a certain location but that’s going to bring more people in the door, which means you actually generate more revenue,” he said.
“You don’t always have to raise your prices to do it.”
RioCan units gained four cents to close at $24.77 Wednesday on the Toronto Stock Exchange.
Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
VANCOUVER, BC (June 9, 2011) Dominion Lending Centres Clearlease Reports Canada’s largest shopping mall owner expects store rents to increase in the next few years as more American retail chains head north, driving up competition for prime retail spaces.
RioCan Real Estate Investment Trust (TSX:REI.UN) said Thursday June 9, 2011 it is currently in talks with American chains like Target Corp., Dollar Tree and overstock seller Big Lots about their plans to move to Canada.
The U.S. chains are part of a wave of retailers looking north to sell their goods to Canadians as they see little growth in the already competitive market at home and keep their eyes on stronger retail sales in Canada.
But those American chains will have to fight to occupy the limited available retail space in the country, or wait for it to be built.
U.S. discount chic giant Target plans to build some brand-new stand alone stores, expanding on its plan to simply take over the leases for current Zellers locations and set up shop by 2013, RioCan CEO Edward Sonshine said Wednesday after the company’s annual general meeting in Toronto.
“Target is only the very large front end of the spear,” he said about the growing number of American retailers heading to Canada.
“It’s going to be great if you’re Canada’s biggest landlord. More demand for space usually equals higher rents,” he said.
Sonshine said the company is focusing on building brand new stores in Calgary and urban areas of Toronto, with construction on one store in Canada’s largest city slated to begin by the end of the year.
He added that discount clothing retailer Marshalls, which entered Canada this year, wants to expand to nearly 100 more locations across the country, as sales are “blowing the lights out.” Clothing store Urban Outfitters also has plans to expand in Toronto.
Major U.S. retailers, department stores and mall chains are expanding into Canada as a way to try out international expansion without the risks of heading to very different markets in Europe or Asia.
They’re looking for new customers and hope that Canadians will be ready to open their wallets by 2012, when the first bunch start moving in. Canadian retail landlords are already sprucing up their malls, and building new ones to attract the best tenants.
Earlier this year, RioCan announced a 50-50 partnership with U.S. mall operator Tanger Outlet Centers that will see up to 15 American-style outlet malls in Canada. The deal is worth up to $1 billion.
Sonshine said a rival mall development by Calloway REIT (TSX:CWT.UN) only a few kilometres away from RioCan’s site in Halton Hills, Ont. is delaying that development slightly, but the other RioCan outlet malls should start opening across Canada between 2013 and 2015.
CB Richard Ellis, a commercial real estate financing and management company, said it appears demand is rising, even though there isn’t yet any firm data that indicate how much rents could increase.
“We’re seeing demand for all different format types, different classes, everyone from high fashion to discount retailers, which will have different space requirements” said Ricky Hernden, a senior research analyst at the firm.
“With vacancy already pretty tight across the board, any influx of demand will cause rent increases.”
But higher rents don’t necessarily mean that stores will raise their prices to make up the difference, said international retailing instructor Brent Barr at Ryerson University.
He said that stores could increase their marketing expenses to bring in more sales, which could help to pay for higher rent.
“Yes, you may pay more money for a certain location but that’s going to bring more people in the door, which means you actually generate more revenue,” he said.
“You don’t always have to raise your prices to do it.”
RioCan units gained four cents to close at $24.77 Wednesday on the Toronto Stock Exchange.
Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
Dominion Lending Centres Clearlease Reports More Americans demanding Canadian retail space, will drive up rents RioCan Real Estate Investment Trust (TSX:REI.UN)
VANCOUVER, BC (June 9, 2011) Dominion Lending Centres Clearlease Reports Canada’s largest shopping mall owner expects store rents to increase in the next few years as more American retail chains head north, driving up competition for prime retail spaces.
RioCan Real Estate Investment Trust (TSX:REI.UN) said Thursday June 9, 2011 it is currently in talks with American chains like Target Corp., Dollar Tree and overstock seller Big Lots about their plans to move to Canada.
The U.S. chains are part of a wave of retailers looking north to sell their goods to Canadians as they see little growth in the already competitive market at home and keep their eyes on stronger retail sales in Canada.
But those American chains will have to fight to occupy the limited available retail space in the country, or wait for it to be built.
U.S. discount chic giant Target plans to build some brand-new stand alone stores, expanding on its plan to simply take over the leases for current Zellers locations and set up shop by 2013, RioCan CEO Edward Sonshine said Wednesday after the company’s annual general meeting in Toronto.
“Target is only the very large front end of the spear,” he said about the growing number of American retailers heading to Canada.
“It’s going to be great if you’re Canada’s biggest landlord. More demand for space usually equals higher rents,” he said.
Sonshine said the company is focusing on building brand new stores in Calgary and urban areas of Toronto, with construction on one store in Canada’s largest city slated to begin by the end of the year.
He added that discount clothing retailer Marshalls, which entered Canada this year, wants to expand to nearly 100 more locations across the country, as sales are “blowing the lights out.” Clothing store Urban Outfitters also has plans to expand in Toronto.
Major U.S. retailers, department stores and mall chains are expanding into Canada as a way to try out international expansion without the risks of heading to very different markets in Europe or Asia.
They’re looking for new customers and hope that Canadians will be ready to open their wallets by 2012, when the first bunch start moving in. Canadian retail landlords are already sprucing up their malls, and building new ones to attract the best tenants.
Earlier this year, RioCan announced a 50-50 partnership with U.S. mall operator Tanger Outlet Centers that will see up to 15 American-style outlet malls in Canada. The deal is worth up to $1 billion.
Sonshine said a rival mall development by Calloway REIT (TSX:CWT.UN) only a few kilometres away from RioCan’s site in Halton Hills, Ont. is delaying that development slightly, but the other RioCan outlet malls should start opening across Canada between 2013 and 2015.
CB Richard Ellis, a commercial real estate financing and management company, said it appears demand is rising, even though there isn’t yet any firm data that indicate how much rents could increase.
“We’re seeing demand for all different format types, different classes, everyone from high fashion to discount retailers, which will have different space requirements” said Ricky Hernden, a senior research analyst at the firm.
“With vacancy already pretty tight across the board, any influx of demand will cause rent increases.”
But higher rents don’t necessarily mean that stores will raise their prices to make up the difference, said international retailing instructor Brent Barr at Ryerson University.
He said that stores could increase their marketing expenses to bring in more sales, which could help to pay for higher rent.
“Yes, you may pay more money for a certain location but that’s going to bring more people in the door, which means you actually generate more revenue,” he said.
“You don’t always have to raise your prices to do it.”
RioCan units gained four cents to close at $24.77 Wednesday on the Toronto Stock Exchange.
Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk