MONTREAL Cushman & Wakefield Global Cities Retail Guide Cushman & Wakefield | Montreal | 2018 0 Named “Canada’s Cultural Capital” by Monocle Magazine, Montreal is undeniably unique. Although both French and English are spoken fluently throughout much of Montreal’s greater metropolitan area, French is spoken by 60% of its residents, making it the largest French-speaking city in the world after Paris. Montreal’s retail landscape, from food to fashion, is strongly influenced by both French and English traditions, a cultural fusion that makes this city stand apart on the world stage. With 4.1 million residents, Montreal is the second largest city in Canada. Its diverse economic base encompasses a wide range of industries including telecommunications, biotech, apparel, gaming, and aerospace. Home to the largest inland port in the world, the city is a renowned creative economic hub known for its excellent restaurants, thriving nightlife, distinctive shopping, and celebrated festivals including the Jazz Fest, the Francopholies, Montréal en Lumière, and the Just for Laughs Comedy Festival. MONTREAL OVERVIEW Cushman & Wakefield | Montreal | 2018 1 MONTREAL KEY RETAIL STREETS & AREAS UNDERGROUND CITY SAINTE-CATHERINE STREET WEST Constructed in 1962, Montreal’s “Underground City” Montreal’s high-fashion street, Sainte-Catherine Street stretches more than 32 km and is one of the largest West, is a favorite shopping destination for both underground districts in the world. A popular tourist Montrealers and tourists. It is home to some of the city’s attraction, it is comprised of stores, malls, hotels, offices, largest and most popular stores including The Bay, museums, seven subway stations, and the Bell Center, Simons, Apple, Forever 21, and H&M amongst others. home to the city’s beloved NHL hockey club, the Montreal Some of the city’s largest shopping malls such as the Canadiens. Eaton Centre, Place Montreal Trust, and Les Ailes de la Mode have frontage along this street. QUARTIER DIX30 OLD MONTREAL Located in the suburb of Brossard, south of the island of Old Montreal typically attracts a very specific type of Montreal and with an area of just over 2.7 million square retailer – in part due to city bylaws and space restrictions feet, the Quartier DIX30 is considered Canada’s first and – which is reflected in the scarcity of big-name retail largest commercial lifestyle centre. It boasts an eclectic brands. Instead, the narrow streets are dotted with small mix of retailers in fashion, electronics, furniture, and food shops and specialty boutiques. Many Quebec clothing and service. In addition to the extensive shopping section of jewelry designers choose to locate in Old Montreal the complex, the Quartier Dix30 has a medical clinic, bars because of the foot traffic and high volume of tourists and restaurants, two performance venues, a movie especially in the summer months. theatre, and hotel. GOLDEN SQUARE MILE CARREFOUR LAVAL With a rich history that dates back to the 1850s, the Carrefour Laval, located north of the island of Montreal, is Golden Square Mile has always been synonymous with the largest single-storey mall in Quebec with a gross luxury. Best known for its high-end restaurants, hotels, leasable area of over 1.2 million square feet. With more and some of the most expensive condo buildings in the than 350 stores, Carrefour Laval has become one of the city, the golden Square Mile is also where Montreal’s most most important retail destinations in Quebec. Big name exclusive retailers are located: Holt Renfrew, Ogilvy, American retailers such as Victoria’s Secret, Apple, and Escada, Tiffany’s, Nespresso, and Harry Rosen are just a Crate & Barrel have taken notice and are choosing to few of the high-end retailers found here. open their flagship stores at Carrefour. Cushman & Wakefield | Montreal | 2018 2 MONTREAL MARKET OVERVIEW KEY AREAS / CONSUMER MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT RANGE OF UNIT STREETS/SHOPPING PROFILE FOR UNIT OF 2,000 SIZES CENTRES SQFT Tourists, local Sainte-Catherine Street The Bay, Simons, Apple, Forever 21, Canada Goose, Mackage, shoppers, local $150 - $250 PSF 1,500-50,000 SF West Zara, H&M, Sephora Miniso business density Local business Underground City Old Navy, Winners, Gap, Zara Time Out Market $70 - $115 PSF 300-50,000 SF density, Tourists Regional Simons, H&M, Victoria's Secret, Change Lingerie, Icebreaker, Carrefour Laval $125 - $220 PSF 300-100,000 SF shoppers Crate & Barrel Oakley, Lindt Chocolate Tourists, local Old Montreal Jean-Coutu, SAQ, Art Galleries Crew Collective Cafe $35 - $60 PSF 800-10,000 SF shoppers Regional Cineplex Odeon, Apple, Best Buy, Quartier Dix30 BFLY, Frank & Oak $45 - $60 PSF 2,000-200,000 SF shoppers Winners, Indigo, HR2 (Holt Renfrew) Local shoppers, Golden Square Mile Holt Renfrew, Ogilvy Four Seasons Hotel $40 - $80 PSF 800-20,000 SF tourists Cushman & Wakefield | Montreal | 2018 3 MONTREAL SHOPPING CENTRES MONTREAL EATON CENTRE PLACE MONTREAL TRUST The Montreal Eaton Centre, located in the heart of the Place Montreal Trust is located in Downtown Montreal, city’s downtown, features over 130 stores and restaurants west of the Eaton Centre, in one of the busiest and has a GLA of 280,000 square feet. The Centre is the intersections in Montreal with an average of 65,000 entry point for the underground city, and is connected to pedestrians per weekday. The mall is connected to the the Montreal Metro via McGill station. The average sales underground city and to the Metro system via the McGill PSF is $889 with an estimated 30 million annual visitors and Peel stations. It has 270,000 square feet of GLA and (includes Complexe Les Ailes). is home to several flagship retailers including Zara, Indigo, Winners, and DeSerres. The average sales PSF is $527 The 36,000-square-foot Time Out Market food concept will with an estimated 15.9 million annual visitors. anchor the $200-million overhaul of the Montreal Eaton Centre in late 2019 as the mall merges with the neighbouring Complexe Les Ailes. COMPLEXE LES AILES CF FAIRVIEW POINTE-CLAIRE The Complexes Les Ailes has 60 stores with 200,000 The Fairview Pointe-Claire is located in West Island of square feet of GLA. The complexe, which also includes Montreal covering 1.0 million square feet of GLA with over 550,000 square feet of office space, is connected to the 200 stores and restaurants and over 5,000 parking underground city and the Metro system via the McGill spaces. The average sales PSF is $748 with an estimated station. Ivanhoé Cambridge announced that it will merge eight million annual visitors. This mall caters mostly to Complexe Les Ailes with the neighbouring Eaton Centre. affluent professionals with an average household income The average sales PSF is $889 with an estimated 30 well above the Canadian average. Fairview Pointe-Claire million annual visitors (includes the Montreal Eaton will also be the home of one of the CDPQ’s Réseau Center). express métropolitain (REM) transit stations. The REM is an automated light rail network designed to simplify commuting. Cushman & Wakefield | Montreal | 2018 4 MONTREAL SHOPPING CENTRES CF GALERIES D’ANJOU CF PROMENADES ST-BRUNO The Galeries D’Anjou is located in the east end of The Promenades St-Bruno, located on the South Shore of Montreal with 1.2 million square feet of GLA with over 175 Montreal, has 1.0 million square feet of GLA with over 164 stores and restaurants and over 5,000 parking spaces. stores and restaurants and over 5,900 parking spaces. The average sales PSF is $619 with an estimated seven The average sales PSF is $559 with an estimated seven million annual visitors. There number of visitors is million annual visitors. expected to rise with the addition of a new Metro station at Galeries D’Anjou in 2026. Cadillac Fairview invested $86 million into the mall last year, which increased sales growth by 6%. ROCKLAND CENTRE PLACE VERTU The Rockland Centre is located at the corner of Highway The Place Vertu is located in the St-Laurent borough of 15 and 40 in Montreal with 674,404 square feet of GLA Montreal, with 838,089 square feet of GLA, over 155 and over 169 stores. The mall is under new management stores and restaurants ,and over 4,000 parking spaces. and is currently undergoing a significant renovation and The average sales PSF is $344 with an estimated 11.5 redesign. Cominar has announced the launch of a new million annual visitors. Place Vertu has attracted major food court concept (opening fall 2018) featuring a central companies like Gold’s Gym, Adonis, Canadian Tire, bar, large atrium, and an outdoor terrace. The concept will Winners, and Famous Footwear; the latter of which chose also host culinary demonstrations from professional chefs Place Vertu for its first Quebec store. Other strong and a selection of food trucks rotating every three months. retailers include the newly renovated Sports Experts, as This and other improvements will enable the mall to shift well as Atmosphere. Sports Rousseau, which recently its target market to mostly affluent professionals, who are opened its new space, now occupies 60,000 square feet, looking for upscale brands. making it the company’s second largest store in Canada. Also notable is the opening of a Miniso store, one of the world’s fastest growing retailers. Cushman & Wakefield | Montreal | 2018 5 DEVELOPMENT TO WATCH OUT FOR ROYALMOUNT Total Size (SF) 3,000,000 Retail GLA 1,200,000 - 1,500,000 Leisure/Entertainment 300,000 GLA Planned Opening Date 2022 (Phase 1) Consumer Profile Mass-market towards luxury to upper-range local residents, tourists ABOUT THE DEVELOPMENT Carbonleo and L Catterton Real Estate, a private equity firm linked with French luxury conglomerate LVMH (Louis Vuitton Moët Hennessy) and Groupe Arnault have partnered to make Montreal home to Royalmount, a next-generation mixed-use development.