Pop-ups, food properties and experience-based spaces could be potential Nordstrom replacements as the store closes its doors in Canada
Nordstrom’s departure from Canada’s retail landscape will leave significant holes in shopping malls, and some analysts say landlords will need to get creative to fill the space.
“Consumers are going back into stores and we’ve seen they’re really looking for an entertainment experience shopping, so being creative with the leases and rentals of these properties is something that mall owners will have to look at,” she said. “Cadillac Fairview is constantly assessing the ever-changing retail landscape and while it’s too early to speculate what we will do with these spaces in the future, our team is working diligently to manage this change and work toward an outcome that is in the best interests of our centres and our long-term success,” said spokesperson Janine Ramparas, in an email.
The CF Eaton Centre location alone took over 220,000 square feet over three levels, when it opened in 2018. In other instances, it will mean the hulking spaces Nordstrom occupies will be broken into smaller stores that can be leased to a wider range of tenants not needing as much space. Any company looking to expand will find Nordstrom’s old digs attractive, said Camenzuli, because the company had prime properties in high-traffic areas.
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