Shopping Center Business

OCT 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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CENTER REVIEW 52 • SHOPPING CENTER BUSINESS • October 2018 This project, in addition to the previous investment, will bring along a renewed tenant mix and more variety in the offer such as the integration of pop ups, desig- nated areas for special events and a new food offering. The Laurier Quebec redevelopment, together with the already completed ren- ovations at Place Ste-Foy, will support the economic development of the area, par- ticularly through connecting pedestrian access. Laurier Boulevard sees pedestri- an traffic totaling more than 20 million visitors annually. Lafrenière says Laurier Quebec is a shopping center that is very strongly con- nected to its community, and new pro- gramming is also underway to support that with a calendar of events to serve both locals and visitors. Seamless entry and ease of movement will be important outcomes of the rede- velopment. In addition to the digital-age parking, customers will tread easy circula- tion paths with connections to improved signage and new technologies. Over the next stages, food is going to be a major focus as the mall moves into a new age of retail. "We recognize that retail is no longer just a destination for shopping," says Lafrenière. "It's a place to socialize and connect with the community and where you have access to a complete set of amenities, person- alized with designated personnel or through technology. It's a very comprehensive way of welcoming customers and making their jour- ney enjoyable, con- venient and comfort- able, and, ultimately, encouraging them to stay onsite." With these improve- ments, Laurier Que- bec will be poised to attract new tenants to complement the up- graded environment. A 160,000-square-foot Sears store was vacated in August, creating an opportunity to enrich the center's tenant of- fering. Ivanhoe Cam- bridge is looking at a number of potential tenants, from fashion to restaurants and even entertainment that will appeal to its customer base to fill this space. "We have already started to change and enhance the commercial mix on site," La- frenière says. "So we're looking to keep improving the mix and bringing more di- versity, again, all while elevating the food concept with sit-down restaurants. There is a traction and demand to bring more restaurants as part of the offering." Cur- rent retailers at Laurier Quebec include Forever 21, Toys 'R' Us, American Eagle, H&M, Best Buy and Hudson's Bay. Around Laurier Quebec, the overall household income is $82,500, which is above the provincial average. Customers are predominantly female, mostly be- tween 15 and 44 years old, 84 percent of whom are college educated. The area will be home to approximately 49,400 new residents by 2023. "We think our investments are very much in line with the strong efforts be- ing concurrently deployed to improve and consolidate this important urban area in Quebec," says Lafrenière, "which altogether show the how strategic this location is. Our focus is very much on reinforcing and restating the dominant position of the center." SCB Ivanhoe Cambridge plans to enhance the already strong tenant mix at Laurier Quebec. Current tenants include Forever 21, American Eagle, H&M, Best Buy and Hudson's Bay. A Sears location closed in August, creating room for new retail expansion. David Larr | 704-243-1362 | David.Larr@accumeasure.net 1037 Spyglass Lane, Marvin, NC 28173 • Could your building grow 3% to 5%? • Have a commercial building without a fl oor plan? • Want accurate square footage computation? • Need site plans for marketing brochures? Established in 1994, AccuMeasure is a service company providing "as built" fl oor plan drawings. From a single suite to a multi-story building, AccuMeasure specializes in performing professional, laser accurate measurements of commercial structures and creating blueprints using Computer Aided Design (CAD). These laser measured fl oor plans are used to calculate square footages according to the Building Owners and Managers Association (BOMA) Standards or your lease terms. Using our area calculations protects building owners and tenants from lease discrepancies through consistent application of the Standard or lease terms as provided by a third party. Other services provided include site plans and Paper to CAD conversions. Backed by an experienced and knowledgeable staff, AccuMeasure is located in the greater Charlotte Area and serves the Carolinas and surrounding states. Call 704-243-1362 for all your measuring needs. www.accumeasure.net

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