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Sporting Goods Giant, Décathlon, Set to Open Store in Mapleview Centre, Ontario, in 2021

Looks like the residents of Burlington, Ontario have a huge reason to celebrate. Mapleview Centre will soon welcome yet another industry-leading brand. 

In the Fall of 2021, the plaza will be opening its doors to Décathlon; the biggest sporting goods retailer in the world, marking the store’s second location in Ontario, with the first having opened in Ottawa in September 2019 as part of the retailer’s cross-Canada expansion. 

 

Décathlon Has Had Quite the Prolific Journey Across the Globe

Having had its origins in France in 1976, Décathlon is on a mission to make its high-quality sporting line accessible across the globe. Ontario isn’t the only province on the list of Décathlon’s conquests. In 2018, the world-class retailer opened its first Canadian store in Brossard, Quebec. The French retailer has over 1500 stores sprawled across 52 countries. 

Ivanhoe Cambridge, a real estate firm that owns the Mic Mac Mall in Halifax, has set aside 23,080 square feet of real estate for another Décathlon store. 

Ivanhoe Cambridge and Décathlon revealed that the new store, opening in 2021, will occupy almost 5091 m2 or 54,800 ft 2 of the space in the lower level, formerly home to Sears. 

Décathlon has also revealed that it plans to forge forward with this expansion and open stores in Calgary, Vancouver and the GTA in the very near future. 

The retailer is making it a point to allow future customers to try their goods in a number of testing areas across the store so that purchasing isn’t a problem. At Mapleview, Décathlon will be occupying prime real estate seeing as the spot is a mere 45 minutes from downtown Toronto. 

 

Mapleview is Taking Its Experiential Customer Focus to Greater Heights

Having had a humble start in 1990, Mapleview has made it a priority to enhance the customer journey and house some of the best brands in the world. Between 2008 and 2010, the plaza underwent significant renovations to improve its market and sales trajectory. 

What stores call Mapleview home? Apple, H&M, Hudson’s Bay, Shoppers Drug Mart and Indigo to name just a few! Given its eclectic selection of shopping arenas, Mapleview has delivered a unique personalized shopping experience that one would be hard-pressed to find elsewhere. 

 

Conclusion

Ontario has, without a doubt, become the hub for retail commercial real estate investors. Décathlon making its mark on Burlington will open the floodgates for countless world-renowned brands to chart a course for the province as well. The bottom line remains as sure as ever; the Canadian real estate market is on the up and up and promises to deliver value to customers and investors alike. 

For more, please visit;

https://www.redevgroup.com/news-article/mapleview-welcoming-a-second-d%C3%A9cathlon-sporting-store-in-ontario

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Video Game Developer BioWare Stakes a Claim in Downtown Edmonton With Brand New HQ!

BioWare has big news! The video game development company that established its HQ in Edmonton, Alberta in 1994, has recently moved shop to the downtown Epcor Tower location. The company has risen through the ranks over the years to establish itself as a globally recognized name in the industry. 

This recent move into their new downtown Edmonton headquarters, in a way, showcases Bioware’s focus on their employees, having grown from three to 300. This expansion is a welcome change as planting one’s roots in one of Canada’s major regions can only bode well for big investments in commercial real estate down the road. 

 

New HQ, New Opportunites

In the new Epcor Tower, BioWare occupies 75,000 square feet on three floors. This affords them more room to flourish and grow, and even expand on their infrastructure. The company has upgraded to hundreds of gaming stations, arcades, recording studios and motion capture studios. 

Because of this expansion, BioWare has achieved positive momentum in the CRE sector. This also gives them access to a more adept workforce and scale their operations to staggering proportions. 

There was some speculation that BioWare was planning to move its headquarters outside Edmonton, but these have long since been dismissed. Considering that it is the mastermind behind some of the most legendary franchises; Dragon Age, Baldur’s Gate, Jade Empire and Mass Effect, it’s no wonder that the company has decided to stay put in the city where it all began. 

 

Generous Tax Credits in Edmonton

Casey Hudson, Manager at BioWare, has stated that the Interactive Digital Media Tax Credit in Edmonton rendered the move tremendously easier. 

This is a 25% refundable tax relief incentive that really proves Edmonton and Alberta’s dedication to drawing in and retaining corporations. With BioWare, the credit covered a portion of the building costs, allowing the firm to turn its attention to further expansions. The new move, reports Casey Hudson, has enhanced the work ethic greatly. 

 

Conclusion

BioWare’s HQ shift has proven to be efficient and strategic in positioning the firm to acquire that vital competitive edge. The 25% refundable tax credit is nothing to sniff at, and has allowed the company to go cherry-picking from a wider talent pool, not to mention newer investment avenues. 

This move heralds a new day for the CRE market as a whole as it has complemented the fast-changing downtown landscape. 

 

Learn more right here:

https://www.redevgroup.com/news-article/new-bioware-headquarters-in-downtown-edmonton

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Canadian Real Estate Losing Out on Massive Foreign Investment? Here’s What the Future Holds!

The commercial real estate (CRE) market isn’t without its fair share of excitement. Recently, they’ve been a spate of trends in retail real estate and residential housing that have largely swayed consumer habits and preferences. 

Both domestic and foreign investments in the market play a role in the value of CRE and ultimately, its demand. 

The latest trend to hit town? Foreign investment in the commercial CRE sector! Let’s talk about this a little more. 

 

The CRE Market and Foreign Investments 

The core assets that draw in institutional investors are top-tier office buildings and rental apartments in urban areas. However, these are in short supply and as a result, prices may soar higher than what buyers are willing to shell out. Thus far for 2019, such types of transactions have totalled about $1.5 billion. 

New retailers are tossing their hat into the CRE ring for several reasons, one of them being that Canada affords opportunities for growth and expansion. Renovation projects have witnessed a welcome surge in recent times as a result. 

Despite this positive upswing, reports from Bloomberg suggest that foreign investment in the Canadian commercial real estate market backslid by about 70% since last year. The data period taken into consideration was the first 6 months of 2019.

Against the backdrop of the $5 billion racked up over the first half of 2018, 2019 has seen a downswing to about $1.5 billion, giving forecasters and real estate gurus plenty to ponder about. 

 

What the Future Holds For Foreign Intervention in the CRE 

Upon analyzing these numbers, the first thing that should come to mind is the factor/s that are causing this decrease in foreign cash inflows. 

Altus Group Ltd., reports that foreign investments in this sector spiked in 2018 due to the purchase by Blackstone Group Inc. and Ivanhoe Cambridge Inc. of a Canadian industrial landlord for a whopping $3.8 billion. 

If we do not consider this transaction, the figures for the first half of 2019 perform way better than the figures seen in the first half of 2018. 

 

Conclusion

Fluctuations in foreign investments are nothing new, however, industrial and retail CRE, top-tier corporate investments and urban housing are performing really well, as they have been doing year after year. 

Like a fly to honey, these attract more foreign and domestic investments. 

 

Learn more right here: 

https://www.redevgroup.com/news-article/canadian-real-estate-the-trends-in-foreign-investments

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Fast-Food Joints Eyeing The Canadian Market and All It’s Growth

What’s one thing that tourists and locals alike look for when they are out and about in the city? Food. Whether you are looking for something quick to eat or looking for an aesthetically pleasing meal, you will end up settling on a place to do so. Since food is such a popular medium for so many, major food chains have taken notice. Larger Canadian provinces such as Alberta and Ontario have become home or will become home to a plethora of major food chains that have seen success outside of the country. 

Chick-Fil-A

Chick-Fil-A is a well knowing fast-food joint across the United States, third-largest to be exact. The company plans to expand that success further by opening up 100 new locations across Canada. Toronto, Ontario saw the opening of the first Canadian Chick-Fil-A. Despite the controversy surrounding the fast-food joint, many waited in line for hours to get their hands on the menu items. 

Jollibee

Jollibee is an extremely popular fast-food joint originating from the Philippines. The food simultaneously acts as a comfort to those accustomed to the cuisine and a new experience for those looking to try something beyond what is typically offered. The success in the Philippino market has allowed Jollibee to extend well beyond the country. Today, Jollibee has more than a thousand restaurants across the globe. 

Currently, there are six Jollibee locations in Canada, with talks of a new one opening up in Alberta in the near future. The success generated from this fast-food joint could be grounds for even more locations across the country. 

In-N-Out Burger

Yet another popular food joint from the United States. In-N-Out is known for its burgers and animal style fries. While the other fast-food joints mentioned are making Canada their home, In-N-Out isn’t doing so just yet. In-N-Out is testing the market via a one-day pop-up shop in Aldergrove. 

While the chain isn’t settling down in Canada right now, the move to test the Canadian market could mean plans for expansion are in the making. 

Eataly

Eataly might not be as well-known outside of the American market, but that doesn’t mean they aren’t a massive competitor. Eataly is an Italian-style food chain that mixes both in-house, restaurant-style dining as well as a grocery store that allows patrons to purchase the food and have it prepared in the dining area. The concept has been doing exponentially well in the U.S. and is expanding beyond the borders to Ontario.

There are many fast-food chains eyeing the Canadian market as it continues to grow both in size and popularity. Beyond these, we could see quite a few new food joints opening up in Canada.

Learn more here: https://www.redevgroup.com/news-article/major-food-chains-coming-to-alberta-and-ontario

News, Uncategorized

Omnichannel: Creating Online and Offline Experiences for Customers

The way consumers shop has changed exponentially over the years. To no surprise, consumers are now shopping both online and offline. With the rise of e-commerce, the ability to obtain goods has grown significantly. Some brands choose to stay brick-and-mortar while some choose to stay strictly e-commerce. While sticking to one stream works for many, the best way to encapsulate a wider array of consumers is to create experiences both online and offline which is also known as omnichannel retailing.

What is omnichannel in regards to retail?

Omnichannel includes the sale of goods/service in both physical and digital means. For example, a clothing store has a physical location where people can shop as well as an online catalogue/website where they can make purchases as well. In essence, omnichannel is being wherever the customer is.

How can adopting an omnichannel model help retail shop owners?

With the growth of e-commerce becoming more and more prevalent, there have been many retailers who have been forced to close their doors due to their inability to compete with the convenience factor e-commerce shopping has. On the other hand, e-commerce lacks that in-person experience many look for. 

Omni-channel caters to those who want a convenient method of shopping and those who yearn for that in-person experience. The ability to cater to two different demographics can help retail owners increase their profit and reach significantly more consumers than they would sticking to one stream.

How can retail shop owners create a digital presence?

Creating a digital presence takes time, but is a well worth it process. Many retailers create (or hire someone to create) a catalogue-type website that displays all the products eligible to be sold online. Retail shop owners can connect this to social media, create digital ads, or promote it through their physical location.

Adopting an omnichannel model can help retail businesses increase their overall traffic and profit. It all comes down to analyzing whether the business can cater to the digital space and how it will and work for the other all betterment of the business.

Want to learn more about the omnichannel experience? Read on here!

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Investment Portfolio: Protect What You Build

Building your investment portfolio takes an abundance of effort and time. Each investment, whether short-term or long-term poses significance to your overall portfolio and acts as a potential stream of income. Ergo, protecting your investment portfolio is just as important as building it. Most methods of protecting your portfolio are within reach and can be done internally. 

Here are a few key ways you can protect your investments and make the most out of them: 

Diversify your investments

Diversification of investments is imperative when it comes to protecting and building upon them. You’ve most likely heard the age-old phrase, don’t put all of your eggs in one basket. This holds merit when it comes to investing. While a stream may prove to be financially beneficial, should any disruption arise, you could risk losing everything you put in. Diversifying your investments allows you to gain from various streams. Should one fall through the cracks, you won’t lose everything and your other investments could make up for any loses. 

Invest in hard assets

The type of streams you invest in play a huge role in their protection. While liquid assets allow you to have access to cash, it can make it easier to spend. Hard assets lock your investment in place meaning the money put forth is in the form of said investment and requires a lot more work to take out.

Real estate is a prime example of a hard asset. The money is locked in into a tangible asset which will grow profit from there. Although the cash is not easily accessible, the asset still falls under your name and overall net worth. Hard assets are a great method of generating income without the temptation of overspending. 

Keep income growth in mind

Generating income is the bread and butter of investments. Whether you are looking to generate high profits in a shorter time frame or you’re looking for a long-term investment, it’s important to understand the potential profit associated with your investments. Some may invest for the sake of wanting a share in a certain realm, but may not consider any cost margins or profit gain. 

If you are unsure about which realms can help you produce the most income, do your due diligence when it comes to research. Set a target goal of how much income you want your investments to produce on a monthly, quarterly, yearly, or overall basis and align your portfolio with that. Typically, the riskier the investment, the more income can be generated in a shorter time frame, however, there are a plethora of long term investments that can bring you in a high profit. 

Protection is key when it comes to making the most out of your investments. The better protected they are, the higher the potential for gain. 

 

Learn even more ways to protect your investment portfolio here: https://www.redevgroup.com/news-article/6-simple-strategies-for-protecting-your-investment-portfolio

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What’s Behind The Rise of Luxury Shops In Canada?

Retail markets continue to thrive well into the year and there is no sign of them slowing down at any time. While certain niche markets may not be able to content, there are those that keep the industry afloat. One retail market in the retail sector is thriving despite the hardships it has faced in the last 12 months. 

The luxury retail market has been flourishing across Canada and consumers are receptive to this new wave. Take a walk in the downtown core of Vancouver or the hustle-and-bustle in the heart of Toronto and you will find a superfluous amount of luxury retailers. The luxury clothing sector, in particular, amasses for a large portion of success the retail markets are seeing. 

What is influencing this growth within the luxury retail market?

Canadians have proven to have an appreciation for European fashion which is most notably crafted by high-end designers. The appreciation accumulated from the fashion market overseas has seen vast success in Canadian markets. Canada boasts a high sense of trust when it comes to this market. While there are places scattered around the country to obtain counterfeit goods, law enforcement is working to eliminate them. The hefty price tags associated with luxury goods, the certificate of authenticity, and the overall atmosphere of a shop are key indicators that goods within are 100% authentic. 

Luxury goods are purchased for two reasons: high quality and social status. Certain luxury goods utilize materials of higher quality, increasing the longevity of the item, thus, being grounds for hiking up the price. Social status is also a major contributor to the growth of luxury good sales. Many believe boasting luxury goods entails and reiterates their wealth and status.

What areas are luxury retailers prevalent in?

Luxury retailers are strategic when it comes to their placement in order to optimize profit. Typically, luxury retailers will look at the jobs and average incomes in the surrounding neighbourhood where they are considering allocating their business. Luxury retailers are most prevalent in Affluent areas such as Bloor Street West, Yorkville Village, Yorkdale, and the downtown core of Vancouver City. 

Aside from affluent areas, luxury retail shops are also prominent in the downtown core of major cities. Because the downtown core of these popular cities (Toronto, Vancouver, Edmonton, Calgary, and Montreal) are hot spots for tourists, there is a greater probability to generate business with those foreign to the country. 

What does the future of luxury retailers in Canada look like?

Although the luxury market has had rough patches, it has continued to make an upward trajectory. As long as the demand remains high, luxury retailers will continue to dominate and make a substantial profit. With more luxury shops opening their doors all across Canada, it comes to no avail that there is certainly a high demand for these goods. This retail market speaks to, not only Canadian citizens but to tourists as well, who deem Canada as a safe and trustworthy place to purchase luxury goods. 

 

Want to learn more about the luxury retail market and real estate opportunities surrounding it? Read more here!

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Niche Businesses Paving the Way for Retailers

Toronto is a city full of diversity; from its people right down to its cuisine. With the increase of diverse immigrants flocking to Canada came an influx of new businesses, unbeknownst to Toronto at one point. One major proponent immigrants brought to Canada is the authentic cuisine of their native land. A popular cuisine that has made its way into the commercial scene in Toronto is Syrian food.

 

Those who made a new home from Syria to Canada have created unity with Canadians through their food. Many, however, face a few barriers – language being a major one – making it difficult to find work in this economy. Thus, many have resorted to opening their own businesses, selling their favourite native cuisine.

 

What can large and small retailers alike learn from foreigners?

 

Many retailers think on a grandeur scale, adhering to large trends and technological advancements to further heighten their business models. Tech disruptions and the decline of trends can be detrimental to this strategy. While everyone would like to develop a utilitarian approach and provide for the masses, there is opportunity barely uncovered in niches such as Syrian restaurants and markets.

 

When it comes to booming business, many don’t consider niche businesses to be at the forefront of profit generation, however, foreigners are proving there is substantial room for monetary gain within businesses that are authentic. These businesses typically have a base of extremely loyal customers who not only come back but bring in new crowds as well, creating even more revenue.

 

When it comes to investments in the commercial industries, retailers can take a note from foreign businesses that bring a touch of their old home to their new home. Many niche businesses remain in business for long periods of time due to the loyal customer base and curiosity of Canadians.

 

Learn more about the Syrian food trend in Toronto and how small businesses continue to flourish across the booming city: https://www.redevgroup.com/news-article/retail-restaurants-refugees—syrian-food-trend-in-toronto

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Big Developments Pour Into Smaller Manitoba Cities, Towns

Cheaper land and lower business operating costs are fueling increased demand for commercial real estate and new economic opportunities in smaller Manitoba communities outside of Winnipeg.

Richard Crenian, president of ReDev Properties, noted the trend in a recent blog post. In it, he said many CRE investors “are taking advantage of lower prices in once considered sleeper towns in Manitoba. Investors’ interest has specifically been concentrated on the outskirts of Winnipeg’s Perimeter Highway.”

Crenian also singled out other communities such as Steinbach, Brandon, and Portage la Prairie, which have all attracted the interest of big players.

Availability of land and costs are key driving factors in the interest, Crenian told RENX in an interview. The story is similar to what’s happening in other areas of the country such as Balzac just outside of Calgary, municipalities outside Edmonton and many outlying communities in the Greater Toronto Area.

“People are going to all of these small places because it’s about affordability,” said Crenian.

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With Big-Box Retailers Closing Shop, What’s to Come?

In the past few years, Canada has seen a plethora of large businesses close shop across the country. Businesses such as Target, Sears, Gymboree, and Payless have (or are currently) closed their doors due to lackluster profits generated in Canada. With that being said, these former big-box shops are now vacant lots that desired to be filled. Some of these lots have been filled while others still remain vacant.

The question dawning on the industry is – what has already filled these vacancies and what is yet to come?

 

Foreign Shop Owners

Taking a stroll through the mall or a commercial plaza, you may come across a Muji, Oomomo, or Uniqlo. These Japanese retail giants were not shy when it came to expanding their retail business to Canada. Shops, such as these, provide products once not readily available to Canadians or products Canadians had to wait for in regards to shipping. Since their migration to Canada, these shops have seen great success.

Beyond just the products, foreign shops offer a unique sense of diversity and culture. Canadians can engulf themselves in an atmosphere that was once not prevalent. The mix of a unique experience and new products readily available to Canadians has sufficiently increased and maintaining foot traffic to foreign businesses. The possibility of these and other foreign businesses continuing their expansion in Canada is highly probable.

 

Food Halls

Similar to foreign shops, food halls thrive off of the harmony between products and experience. Going out to eat continues to be an activity enjoyed by many, ergo, expanding on experience is imperative to increase traction. A successful indictment of a food hall came to Upper Canada Mall in recent years. Market & Co. filled the vacancy from what was once Target and has been thriving in the space. Market & Co. not only provides visitors with a place to eat, but a place to purchase items and immerse themselves in the world of cooking through various classes they offer.

Food halls do an exceptional job are attracting various demographics; foodies and shoppers, for example. Food halls also work on the online world, utilizing social media to draw in even more traffic. Whilst they aren’t seen in many places across Canada just yet, there is a great chance we will see a saturation of food halls filling vacancies in the near future.

Albeit, many vacancies have been filled, there are still huge lots looking for investors and businesses alike to do just that. Foreign shops and food halls have seen great success thus far and it would come to no surprise that these types of businesses will fill even more vacancies across Canada.

 

Learn more about how Canada plans on successfully filling large vacancies here: https://www.redevgroup.com/news-article/successfully-filling-vacancy-with-foreign-shop-owners-and-food-halls