Nordstrom will land right in the heart of downtown Toronto by opening in the Toronto Eaton Centre, a major shopping destination.
The 213,000-square-foot, three-level site is scheduled to open in the fall of 2016. It marks another big step in Nordstrom’s impending expansion into Canada.
The first Nordstrom full-line store in Canada will open in the fall of this year at Chinook Centre in Calgary. After that, Nordstrom will open full-line stores in Ottawa’s Rideau Centre in spring 2015, Vancouver’s Pacific Centre in fall 2015, Yorkdale Shopping Centre in fall 2016 and Toronto’s Sherway Gardens in spring 2017.
Nordstrom envisions eight to 10 full-line stores in Canada. The expansion will also include the opening of several Nordstrom Rack stores across Canada, as well as the creation of a separate online site.
By aggressively lining up locations in Canada, largely by working closely with Cadillac Fairview Corp., a large real estate developer and operator, Nordstrom has jumped out in front of the upscale competition, such as Saks Fifth Avenue and Bloomingdale’s, which also want to plant flags in Canada. Saks is owned by the Hudson Bay Co. and is likely to take over some Hudson Bay department store real estate. Among the possibilities would be the Hudson Bay store on Bloor Street in Toronto, which is only a few blocks from Holt Renfrew, Canada’s luxury chain.
At Toronto Eaton Centre, Nordstrom is taking over a Sears Canada site and will occupy the ground, second and third floors. There will be an additional 140,000 square feet that will be leased to other retailers. Sears will maintain its headquarters on the site on the higher floors.
“We want to serve those who live and work downtown as well the many visitors to the city, and think Toronto Eaton Centre is a great place to do so,” said Karen McKibbin, president of Nordstrom Canada.
“Our properties were the first to welcome Nordstrom to Canada,” said John Sullivan, president and chief executive officer of Cadillac Fairview Corp. Ltd., which is partnering with Nordstrom to open five locations in Canada. Cadillac Fairview owns and manages Toronto Eaton Centre.
“Over the past three years, we’ve spent $120 million in enhancements to Toronto Eaton Centre,” added Wayne Barwise, executive vice president of development at Cadillac Fairview. “This second phase of redevelopment will include an additional $400 million. We are delighted to have Nordstrom be part of this exciting venture as we continue to bring a premier urban retail shopping experience to the city.”
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