Page 59 - RLI April 2019

TOKYO WASHINGTON DC VANCOUVER

OKYO ORONTO ANCOUVER ASHINGTON DC
From trophy flagships and one-of-a-kind concept Toronto, a true global city, has one of the more A coastal seaport city, Vancouver has the Bright young talent is drawn to the
stores to underground malls at some of the diverse populations in the world, evidenced highest population density in Canada, attracting nation’s capital each year to work for
Tbusiest train stations in the world – Tokyo’s retail Tby its rich culture with a strong theatre scene, Vresidents with its desirable quality of life. Local Wthe government and the concentration
landscape is incredibly diverse, exciting, and complex. The museums and galleries, movie and television productions, and mall owners are capitalising on the need for more housing of surrounding industries which serve it. Visitors come from
relative insularity of the market historically has enabled strong the presence of Canada’s major media outlet headquarters. and have been expanding centres and converting existing around the world to see museums, cultural institutions and
local brands such as Uniqlo, Muji, and Tomorrowland to thrive. Toronto’s international buzz has allowed the city to witness retail into residential uses. monuments. A variety of retail, new and old, serves those
High Street significant investment in recent years, especially in areas High Street many shoppers. Adding to the region’s appeal is the recent
International retailers have a strong high street presence in outside city limits. Investors and tenants alike are recognising the growing opening of The Wharf on the city’s southwest waterfront.
Tokyo, particularly in the Ginza and Omotesando shopping High Street importance of Vancouver on the international retail stage. High Street
districts. Ginza is highly sought after by luxury brands, Bloor Street, also known as Mink Mile, is Toronto’s The Robson Street corridor, the city’s most prominent M Street, Washington DC’s premier urban retail corridor,
particularly as a location for flagship stores. Ginza is also prime shopping destination, providing excellent brand urban retail node, has transformed into a high-end shopping is set in the affluent Georgetown neighbourhood. Luxury
popular for watch and jewellery retailers. Most recently, exposure within the nation’s most expensive corridor. The destination over the past ten years. 7-Eleven and Dollar Tree and luxury lite price point apparel and accessory brands
GSIX, a 506,000sq ft luxury mall opened along Chuo Dori, affluent neighbourhood of Yorkville provides Bloor Street once occupied prime real estate within the corridor but like Coach, Kate Spade, and Tory Burch line the corridor.
showcasing numerous new-to-Japan retailers, a theatre, art with regular patrons but the demographics of shoppers have since been replaced by luxury and luxury-lite retailers Georgetown’s attract not only the luxury retailers but have
exhibits, F&B shops, and a rooftop garden. The main tree- are changing. Entertainment and advertising agencies are like Burberry, Versace, and Tory Burch. Robson Street was drawn online retailers like Warby Parker and Birchbox.
lined thoroughfare through Omotesando is often likened to choosing to locate within the corridor, bringing with them once the home to luxury tenants but neighbouring Alberni Shopping Centres
Champs-Élysées, with its glamourous row of boutiques by a younger working population. New office and multifamily Street is now known as Luxury Row.. CityCenter, built in 2013, is widely considered the luxury
both premium and mass market brands. construction also promises young workers and residents. Shopping Centres retail epicentre of Washington, DC outside of Georgetown.
Shopping Centres Shopping Centres Vancouver is home to some of the country’s top centres The project has seen a migration of luxury retail tenants
The majority of Tokyo’s shopping centres are located in Shopping centres in the Greater Toronto Area have seen and many of them are undergoing significant renovations and from neighbouring submarkets including Dior, Bulgari,
suburban areas as well as neighbouring prefectures. Major tremendous activity and growth in the past three years, expansions into mixed-use projects. Brentwood Town Centre is and Louis Vuitton. Outside city limits, Tysons Corner has
malls include Futakotamagawa Rise, Diver City Odaiba, particularly in centres located outside city limits. Yorkdale, undergoing a massive residential and commercial intensification the largest retail square footage in the metro area. Tysons
Aquacity Odaiba, Lalaport Toyosu, and Solamachi. Within Square One, and CF Sherway Gardens have undergone project that will transform the existing centre into a master Galleria, CityCenter’s only true luxury rival, just across the
the city centre, Omotesando Hills, Roppongi Hills, and Tokyo extensive renovations and expansions to make room for planned mega mall, The Amazing Brentwood, with 250 stores street boasts a luxury and luxury lite tenant mix that includes
Midtown are premium malls targeted at affluent shoppers new market entrants including Nordstrom, which entered and restaurants, including Cineplex’s VIP Theatres and Rec Chanel, David Yurman and Elie Tahari.
through a mix of high-end retail as well as countless F&B the country in 2014, and Saks Fifth Avenue. Yorkdale, Room, scheduled to open in 2019.
and entertainment options. Looking ahead, Mitsui will open Canada’s premier regional shopping centre, invested over
the 2,024,000sq ft Tokyo Midtown Hibiya overlooking the CA$220 million to add 145,000 square feet of retail and
Imperial Palace grounds next spring. 40 new stores.
TORONTO

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