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VANCOUVER Cushman & Wakefield Global Cities Retail Guide VANCOUVER Cushman & Wakefield Global Cities Retail Guide Cushman & Wakefield | Vancouver | 2019 0 Vancouver is a top shopping destination in Canada, 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, Gastown, Yaletown, Main Street, and Kitsilano. Each neighborhood offers its own distinctive character, from the trendy converted warehouses in Yaletown and cobblestone streets of Gastown to the established Robson Street 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, Aritzia, 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 False Creek 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 Granville Street 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 downtown Vancouver 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 2010 Winter Olympics, 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 Broadway – 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, London Drugs, 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 Kerrisdale, 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 PACIFIC CENTRE 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
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