398 replies to this topic

[VicHockeyFan]

Costco has run the numbers and they want a second store in Victoria. The Langford location also serves a big portion of the Cowichan Valley which it would continue to serve with a more Victoria-focused location on the peninsula.

 

Believe it or not the drive from Duncan to Langford's Costco takes less time than the drive to the Nanaimo store.

 

Is there a new Costco coming to Nanaimo?

[Mike K.]

Haven’t heard about any plans.

[VicHockeyFan]

http://nationalpost....owntown-seattle

 

Amazon opens a store without checkouts in downtown Seattle The store allows shoppers to scan their smartphone with the Amazon Go app at a turnstile, pick out the items they want and leave

[spanky123]

 

http://nationalpost....owntown-seattle

 

Amazon opens a store without checkouts in downtown Seattle The store allows shoppers to scan their smartphone with the Amazon Go app at a turnstile, pick out the items they want and leave

 

 

The store is in their headquarters so only Amazon staff get to use.

[VicHockeyFan]

The store is in their headquarters so only Amazon staff get to use.

 

No, no, that was the prototype.  This one is for the public too.

 

https://www.npr.org/...s-to-the-public

[mbjj]

Maybe no place needs another Costco

 

https://www.sfgate.c...ub-12511119.php

[lanforod]

Costco is fast getting a monopoly in their area - 'wholesale' stores. They already have one here for the most part; other than some folks who shop at Bulk Barn or Wholesale club.

Sam's Club are all shutting down already. Smaller ones like H Y Louie have shut down. etc.

[lanforod]

 

http://nationalpost....owntown-seattle

 

Amazon opens a store without checkouts in downtown Seattle The store allows shoppers to scan their smartphone with the Amazon Go app at a turnstile, pick out the items they want and leave

 

 

Convenience style, grocery store. Interesting to note some of the challenges they've had, such as kids moving stuff around or getting customers mixed up due to 'similar body type'. Still need an employee to check ID for booze areas.

This certainly seems like the store of the future though. It's kind of like a human scale vending machine.

[UDeMan]

Dollarama will start online sales of bulk items in the near future. Not sure if this will cut in to Costco sales.

The Costco shopping experience is not pleasant. If they had all their products online and I would
just buy and pick up, at the same price, I would do it.

[tjv]

Is there a new Costco coming to Nanaimo?

yes they want to relocate because they are not allowed a gas bar, but they have been talking about it for years

[Mike K.]

Press release:

 

Anthem Properties and Crestpoint Real Estate Investments have purchased the Tillicum Centre in Victoria for $110 million.

 

RioCan Real Estate Investment Trust (REI-UN-T) had owned the shopping mall that is home to more than 40 stores, including Lowe’s, Save-On-Foods, London Drugs, Winners and a Cineplex cinema. Tillicum Centre is located about five kilometres north of downtown Victoria at 3170 Tillicum Road.

 

“This is an excellent acquisition for us,” said Kevin Leon, president of Crestpoint, in a release Monday afternoon. The Toronto-based commercial real estate investment manager holds about $4 billion of gross assets under management.

 

“Greater Victoria has emerged as one of the most desirable markets in Canada due to its growing population, diversified regional economy and strong fundamentals in the commercial real estate market. This situation is evident in the strong performance of the key tenants at Tillicum.”

[Matt R.]

As an owner in Parkside Place, I feel like celebrating. What’s the downside?

Matt.

[Sparky]

^ My personal opinion is that there is some corporate smoke and mirrors going on here.

I like the mall. I go there about 3 times a week. It’s in an ideal location between my office and my home, and it is not that busy most times. There’s the rub for me about all this “strong performance” hooey....it’s just not that busy.

Why is there a dead restaurant in the parking lot? Look at the tenant change over time. There are vacant spaces there at most times.

Why is the sale price of $110M a whopping $30M below the assessed value?

[Victoria Watcher]

why does anything change hands? other than some tax manoeuvres they change hands because someone sees more value than another. i suppose ~50% of the time one party is right.

is it a growth neighbourhood? not really. is bricks and mortar retailing growing? no. is there development opportunity outside of retail? probably that’s a big parking lot.

just different visions I guess.

[Mike K.]

The McKenzie interchange is going to change everything.

Traffic congestion all around that mall has been a huge issue for redevelopment.

Although I don’t think Anthem has an medium term plans for this place. They bought Market Square in the 90’s and have made only minor upgrades over the last 20 years. The Bambu lot (Union) was their only project and it didn’t materialize for many years after acquiring the property.

[Victoria Watcher]

having said is retail growing the anchor tenants there are more immune than others I guess.

home improvements are not leading e-retail
nor is consumer drugs and cleaning supplies
nor is discount limited run apparel (winners)

[Mike K.]

Believe it or not, traditional retail still far, far, far outcompetes online sales.

There are literally five brick-and-mortar retailers that control nearly 80% of commerce.

[Victoria Watcher]

and groceries.

^ agree but the shift continues unabated.

[LJ]

Only about 3% of consumers buy groceries online in the US.

[Victoria Watcher]

that’s a tough one for sure. mostly because of produce and meats etc.

above I was adding groceries to my previous list of hard to do online stores.

Edited by Victoria Watcher, 06 February 2019 - 08:15 PM.