47 replies to this topic

[G-Man]

They sell cupcakes in walmart and grocery stores now, once that happens the end is nigh for whatever the fad is.

I expect that the place at uptown is still trying to ride the Food Network reality show about the founders with that price.

[spanky123]

Sounds like the franchise owners may have bitten off more than they can chew :-)

[dasmo]

I hate cupcakes anyway...

[pherthyl]

See, that's what I'm talking about. We're Canada's 15th largest metropolitan area meanwhile our lease rates are the fourth highest in the country. I'm not sure that's sustainable.

I think this discussion is hilarious given the parallels with the real estate thread where you have the exact opposite position. So it's no problem that we're 15th in size but second in house prices, but being 4th in lease rates is somehow unsustainable?

One could argue that Victoria is a nice place and a major tourist destination. Lease rates are high because demand is high. Landlords charge what the market can bear and have every right to. If they are truly losing money because of a high vacancy rate they would lower their rents. Landlords aren't keeping rates high because they're evil. They're doing it because that is what maximizes their profit.

[Mike K.]

I think this discussion is hilarious given the parallels with the real estate thread where you have the exact opposite position. So it's no problem that we're 15th in size but second in house prices, but being 4th in lease rates is somehow unsustainable?

Parallels? The only parallel between the commercial leasing industry and housing applies to those individuals who have the backwards notion that a housing purchase is a business venture that should yield profit over the short term.

[Greg]

For what it's worth both Pink Sugar and it's immediate neighbour Plain Jane (clothing retailer) are now for lease.

Umm. Since the Plain Jane space appears to be for lease because Plain Jane moved to the (presumably) more expensive location next to The Running Room at the corner of Broughton and Douglas, this may not be providing the additional evidence you want it to.

[Mike K.]

I don't think I'm trying to provide evidence of anything, just pointing out that two retail spaces are sitting empty side-by-side.

[mc9]

West Edmonton Mall also has astronomical prices for leasing/sq ft