Cushman & Wakefield Global Cities Retail Guide

Cushman & Wakefield | Vancouver | 2019 0 Vancouver is a top shopping destination in , offering a diverse mix of high-end luxury boutiques and charming one-of-a kind shops that appeal to tourists and locals alike.

Robson Street and neighbouring Alberni Street make up the downtown hub for internationally recognized brands and luxury retailers. Shoppers looking for local designers and boutiques can find them in South Granville, , , , and . Each neighborhood offers its own distinctive character, from the trendy converted warehouses in Yaletown and cobblestone streets of Gastown to the established and up-and-coming Main Street and Olympic Village areas. Not surprisingly, this famous tourist destination is a major draw to international retailers. Top brands that have recently entered the Vancouver market include IWC Schaffhausen Versace, Prada, Kate Spade, and Moncler. Vancouver has also given rise to famous brands such as Lululemon, Roots, , Mountain Equipment Corp, and Saje, which have all grown from humble beginnings to become hugely successful on the international stage. VANCOUVER Famous for its natural beauty, urban sophistication, cultural diversity, and stable economy, Vancouver attracts newcomers and visitors from all over the world. A record- OVERVIEW breaking 10.3 million people visited the city and region in 2017, infusing $4.8 billion into the local economy.

Cushman & Wakefield | Vancouver | 2019 1 VANCOUVER KEY RETAIL STREETS & AREAS

ROBSON STREET YALETOWN Robson Street is Vancouver’s most famous shopping Primarily known as a warehouse district, Yaletown is now district, offering a wide range of international and local fully established as one of Vancouver’s most trendy nodes brands for both tourist and locals. Home to over 150 for boutique retail shops, sidewalk cafes and high-end shops, from department stores to luxury brands, this is a restaurants, and the most sought-after nightlife. Situated coveted high-traffic location for retailers. near the waterfront community, Yaletown is consistently buzzing with energy and life from both locals and tourists year round.

ALBERNI GASTOWN Running parallel to Robson Street, the Alberni corridor Vancouver’s oldest and most historic neighborhood offers has emerged as Vancouver’s luxury district, showcasing a wide variety of boutique shops, cafes, and exceptional the world’s most famous brands. Prada, Dior, De Beers, cuisine offerings. Gastown is one of Vancouver’s most Burberry, Escada, Saint Laurent, Tiffany & Co., Jaegar- thriving fashion districts. The area also has a high LeCoultre, Moncler, Montblanc, and Gucci are just some concentration of upscale home furnishing retailers. The of iconic names populating this area. Its tremendous brick lined streets and historic Victorian buildings make up success is partly attributed to increased Chinese tourism. this stylish destination neighborhood.

GRANVILLE STREET SOUTH GRANVILLE is Vancouver’s liveliest entertainment South Granville is a sought-after destination for district in the heart of downtown. Home to countless entertainment, shopping, arts, and cuisine. With close restaurants, bars, and fashion stores, and offers direct proximity to this shopping district is access to the Nordstorm flagship location in Pacific a hot attraction for locals and tourists alike. South Centre. Granville Street consistently enjoys high Granville has the highest concentration of art galleries in pedestrian traffic and is well-known as the destination for Vancouver alongside award-winning restaurants, designer late-night entertainment. boutiques, and home décor.

Cushman & Wakefield | Vancouver | 2019 2 VANCOUVER KEY RETAIL STREETS & AREAS

KITSILANO / WEST 4TH OLYMPIC VILLAGE Situated in Vancouver’s most well-known West Side Built for the , this Southeast False neighborhood, West 4th Avenue has been a shopping Creek neighbourhood has quickly developed into a mixed- destination since 1923. West 4th Avenue offers the largest use community with a growing residential community. selection of outdoor and active lifestyle retail along with an Olympic Village is now recognized as Vancouver’s best immense collection of fashion stores, gift shops, day spas, waterfront community, offering park spaces, trendy salons, and home décor. breweries, retailers, and easy access to downtown Vancouver. MAIN STREET Mount Pleasant’s Main Street is Vancouver hottest and most up-and-coming neighborhood. This trendsetting eclectic neighborhood offers a variety of clothing boutiques, eateries, entertainment venues, lively cafes, pubs, bistros, and the best breweries in Vancouver. In the last two decades, it has experienced an amazing transformation. Main Street was named one of North America’s 15 coolest streets by Cushman & Wakefield’s Cool Streets report last year. The area received high marks from respondents for food, arts, music and nightlife offerings, as well as being bicycle friendly. The only other Canadian street to rank in the top 15 was Toronto’s Queen Street West.

Cushman & Wakefield | Vancouver | 2019 3 VANCOUVER 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 Roots, Lululemon, Aritzia, Banana Tourists, Local Indigo, RYU, MUJI, Ladurée, Robson Street Republic, Zara, Club Monaco, Shoppers, Local Frank & Oak, Arc’tyrex, OVO, $120 - $225 / psf 800 - 7,000 sf (Granville St – Bute St) Sephora, MAC, Tesla, UGG, Lush, Business District Miniso New Balance

Deciem, Bonpoint, Kimberlite South Granville Indigo, Pottery Barn, James Perse, Local Shoppers Diamonds, Le Creuset, King $45 - $80 / psf 800 - 7,000 sf (West – 16th Ave) Anthropolgie, Free People, West Elm Living, Lolë

Local Business Holt Renfrew, Aritzia, Urban Judith & Charles, Miniso, Downtown Granville District, Local Outfitters, Nordstorm, Hudson’s Bay, Browns Craft House, Dublin $40 - $150 / psf 800 - 17,000 sf (Smithe St – West Broadway) Shoppers, Adidas, Old Navy Calling Tourists

Van Cleef & Arpels, Hublot, Local Business Tiffany & Co., Hermes, Louis Vuitton, Schaffhausen, Jimmy Choo, Alberni District, Local Escada, Burberry, Rolex, Moncler, Stefano Ricci, Saint Laurent, Off- $150 - $250 / psf 1,000 - 5,000 sf (Burrard St – Thurlow St) Shoppers, Versace, De Beers, Prada, Dior White, Brunello Cucinelli, Oliver Tourists Peoples, Graff Diamonds

Local Shoppers, Urban Fare, Designhouse, Mavi, The Man Cave Barber Shop, Emil Yaletown Local Business Cross, Optical Factory, Brooklyn Clothing, MASC, Viberg, $45 - $65 / psf 800 - 3,000 sf District Clothing Indochino, MINI, Soul Cycle

Fluevog Shoes, Rodan Gray, Secret Herschel, Avenue Road, Filson, Gastown Tourists, Local Location, M0851, Aesop, Inform Bailey Nelson, Le Labo, The $50 - $90 / psf 1,000 - 11,000 sf (Water St) Shoppers Interiors, B+B Italia, Versace Home Latest Scoop

Cushman & Wakefield | Vancouver | 2019 4 VANCOUVER 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 North Face, Lululemon, Mavi, Hills Aesop, RYU, Fjällräven, Comor Kitsilano Local Shoppers Dry Good, Urban Outfitters, Kit and Sports, Warby Parker, Reigning $35 - $75 / psf 800 - 10,000 sf Ace, Gravitypope Champ

Front & Company, Eugene Choo, 8th Oak + Fort, Saje, Earnest Ice Local Shoppers, + Main, Antisocial Skateboard Shop, Cream, Fable Diner, 33 Acres Main Street $35 - $50 / psf 800 - 5,000 sf Tourists Mainstreet Brewing Company, Brewing Company Mountain Equipment Co-Op

Urban Fare, Terra Breads, Legacy Liquor Store, , CRAFT MEC, WildTale Seafood, Nook, Olympic Village Local Shoppers $30 - $75 / psf 500 - 5,000 sf Beer Market, Bao Down Gastropub + BREWHALL Raw Bar

Local Shoppers Hills of , Finns, Bufala, Kerrisdale Thomas Hobbs Florist, Blake & Riley, Catimini Paris, Miniso $30 - $55 / psf 1,000 - 3,000 sf DeRUCCI, Cobs Bread, Buchan’s

Cushman & Wakefield | Vancouver | 2019 5 VANCOUVER SHOPPING CENTRES

OAKRIDGE CENTRE CF Historically one of the most profitable shopping centres in Pacific Centre was the second best performing shopping Canada, the site is undergoing an expansive centre in Canada for 2018, with sales of $1,690 per redevelopment which will nearly double the retail space square foot. Located on the corner of Robson Street and when all the phases are complete in 2025. Situated in an Granville Street, Pacific Centre is the premiere destination affluent neighbourhood and conveniently accessible via for luxury retailers expanding into the Vancouver market. SkyTrain and major road way, Oakridge will be adding a It currently houses sought-after retailers including food hall, brew pub, community centre and public park to Nordstrom, Holt Renfrew, All Saints, Ted Baker, Harry compliment the a mix of upscale retailers and new office Rosen, Canada Goose, and many more. Pacific Centre is and residential component. surrounded by hotels and office towers and it is must-visit spot for tourists and local business people alike.

ROYAL CENTRE MALL This two-level shopping centre is located at street level under a Class A office building located in the prime Central Business District of downtown Vancouver. This 589,000-square-foot, 37-storey building is adjacent to the Vancouver Hyatt Regency Hotel. Located on the corner of Georgia and Burrard, Vancouver’s busiest intersection, is conveniently situated within the business and retail amenities of downtown Vancouver. Anchored by RBC, the mall offers many other service related tenants such as Rexall Drugs, Staples, as well as a vast array of food options.

Cushman & Wakefield | Vancouver | 2019 6 DEVELOPMENT TO WATCH OUT FOR

Oakridge Centre

Total Size (SF) 4,500,000

- Retail GLA 1,000,000

- Leisure/Entertainment 175,000 GLA

Planned Opening Date 2022-2025

Consumer Profile Mass-market to upper- range local residents, tourists

ABOUT THE DEVELOPMENT

QuadReal Property Group acquired the 28.4 acre Oakridge Centre from Ivanhoé Cambridge in early 2017. The Group has retained WestBank to redesign the property into a transformative hub of retail, office, residential, and cultural space.

The new development will include indoor retail and outdoor pedestrian streets. The indoor component will be home to more than 20 luxury retailers, including some first-time entrants to the Vancouver market. The development plan also includes a large culinary centre spanning 50,000 to 75,000 square feet and featuring a diverse range of restaurants and cuisine.

The property will incorporate multiple public facilities including a new community centre, public library, VANCOUVER performance centre, park, and daycare. The development will transform the neighbourhood by bringing in an estimated 2,600 condos for 6,000 NEW DEVELOPMENT residents and 500,000 square feet of office space. WATCH

Cushman & Wakefield | Vancouver | 2019 7 VANCOUVER FOOD & BEVERAGE

“Vancouver has an incredible food Vancouver’s Asian influence is evident in the city’s restaurant offerings. From sushi to scene. What’s particularly notable is inspired dishes, the city’s cuisine has something to offer the wealth of locally sourced quality all. The city is famous for its myriad of high-quality sushi ingredients available at every chef’s restaurants, which combine the talents of expert sushi chefs (including the man behind the famous California finger tips. Not every city is so Roll) with ’s exceptional seafood and fortunate and it makes for a much produce. more exciting, creative and Vancouver is also known for its diverse roaster of sustainable culinary scene… vegetarian and vegan food eateries, from juice trucks on Vancouver also has amazing ethnic street corners to high-end vegetarian restaurants. Beyond just salad, these eateries offer Indian, Mexican, Lebanese diversity to the dining culture, which and other ethnic selections. It is easy to find delicious ensures it is always evolving and healthy options in every neighbourhood. growing into new and exciting Several west coast chain restaurants including Cactus areas.” – Connie DeSousa, Chef Club Café, Brown’s Social House, Joey, and Glowbal restaurants have capitalized on Vancouver’s appetite for a Vancouver’s culinary scene has developed substantially, diverse range of offerings. Each of these restaurants have offering an eclectic blend of high-quality restaurants, experienced unprecedented success, operating in several vibrant street food, west-coast infused eateries, and a prime locations throughout metro Vancouver. fusion of flavors inspired by Vancouver’s multi-cultural population. British Columbia is arguably Canada’s seafood capital and its restauranteurs have taken full advantage of this status. The ’s Ocean Wise symbol, found on many restaurant menus, indicates the seafood is non-endangered and fished by sustainable methods.

Cushman & Wakefield | Vancouver | 2019 8 VANCOUVER FOOD & BEVERAGE MARKET OVERVIEW

KEY AREAS CONSUMER FOOD & BEVERAGE OPERATORS RENT FOR 3,500 PROFILE INCLUDING SQFT UNIT Local business density, local Joe Fortes, Hawksworth, Botanist, Forage, residential Financial District , Nightingale, Boulevard, Hy’s $50 - $75 / psf population, Encore, Miku, Notch 8, Cactus Club Café tourists, secondary retail

Robba da Matti, Minami, Rodney’s Oyster Local residential Yaletown House, Cioppino’s, The Flying Pig, Blue Water $45 - $60 / psf population Café

Tourists, local The Pourhouse, Alibi Room, L’Abbatoir, Salt, residential Gastown Jules, Water St. Café, The Flying Pig, $35 - $50 / psf population, Coquille, Ask For Luigi secondary retail

Au Comptoir, Fable, Bishops, AnnaLena, Bibo Local residential, Kitsilano Pizzeria con Cucina, La Quercia, Local, The $35 - $60 / psf secondary retail Eatery

Bao Bei, Floata Seafood, Virtuous Pie, London Local residential, Chinatown Pub, Phnom Penh, The Brixton, 1886, Juniper, $30 - $36 / psf tourists Kissa Tanto

Local residential, Campagnolo, French Table, London Pub, Main Street $25 - $45 / psf secondary retail Bodega, The Fish Counter, Burgoo, The Acorn

Local residential, Farmer’s Apprentice, Viji’s, Tojo’s, West, Joey, South Granville $60 - $90 / psf tourists Heirloom Vegetarian, Jamjar, The Stable

Laurence & Chico Café, The Three Brits, Local residential, West End Vera’s Burger Shack, Nook, SURA, Nero, $45 - $75 / psf tourists Peaked Pies, Espana

Cushman & Wakefield | Vancouver | 2019 9 ERIKA SCHANKE Managing Director Americas Retail Services 1290 Avenue of the Americas New York, NY 10104, USA Tel: +1 212 841 5024 Mob: +1 404 680 4363 [email protected]

STUART BARRON National Director of Research Canadian Markets 161 Bay Street, Suite 1500 Toronto, ON M5J 2S1 Canada Tel: +1 416 359 2652 Mob: +1 416 220 9214 [email protected]

No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. © 2019 Cushman & Wakefield. All rights reserved.