Retail sector shows strength

March 2009
Western Investor
Written by: Geoff Kirbyson

While the prices of homes are starting to tail off in Winnipeg, the city's retail sector continues to show a remarkable resiliency to the economic malaise affecting most of the country.

Perhaps the most telling development was the lightning-quick turnaround for the 35,000-square-foot Linens N Things building across the street from Polo Park. The U.S.-based retailer went out of business and handed over the keys in December. But less than a month later, Shindico/IC&I Properties, the landlord of big-box hub St. James Station, had signed Home Outfitters to take over the space.

"There will be cities in North America where they won't be able to backfill their space, there won't be the demand. Winnipeg is still in a solid position that we could fill the space promptly," said John Pearson, the commercial real estate agent who brokered the deal.

Just a couple of kilometres to the south, Calgary-based Original Joe's signed on to bring its bar and grill concept to the corner of Grant Avenue and Kenaston Boulevard, one of the busiest intersections in Winnipeg. Original Joe's plans to open up in the spring.

Also, Sephora, the France-based beauty retailer, is opening a store at Polo Park Shopping Centre, Winnipeg's biggest mall, in May. It will fill the space vacated in December by Tommy Hilfiger.

Marie Marchives, vice-president of Sephora Canada, said the company wants to expand from its current base of 12 stores across the country to 50 in just a few years.