• Print
  • Send to a friend
  • Comment (1)
  •  

Sears spends $2M on Iris move

(Stock image)

(Stock image)

Published on April 13, 2012
Published on April 12, 2012
OBJ Staff  RSS Feed

Department store retailer Sears is planning to spend $2 million on fitting up its new location in the Ikea plaza.

Topics :
Ikea , Rideau Centre

The struggling national chain, which recently announced it would close its Rideau Centre location, has contracted Aecon Construction Group to perform the fit-up at 2685 Iris St.

Sears used to occupy a 50,000 square-foot-location in the same mall. However, when Ikea built its new location nearby, the Sears store ended up being just four feet away from Ikea's front entrance.

"The Sears home building is blocking 50 per cent of the front of our store," said Ikea's Madeleine Löwenborg-Frick in a November interview. "We need to redirect the flow of traffic."

In November, Ikea said Sears would move into its old spot in the mall, taking up 79,000 square feet. There is still 18,000 vacant square feet in that space; at the time, Ikea would not disclose plans for the remaining area.

Last month, Sears said it would close its 240,000-square-foot location at the Rideau Centre by the end of October, along with locations in Vancouver and Calgary. Its departure is expected to open up the market to prominent retailers rumoured to be considering Ottawa, such as H&M and Victoria's Secret.

In the National Captial Region, Sears also has locations at the St. Laurent Centre, Carlingwood Mall and across the Ottawa River in Hull and Aylmer.

Comments

  • Username
    Peter Quinlan
    - June 7, 2012 at 23:40:52

    Wow. Interesting to note here that SEARS is committing a fair chunk of change ($2 million) to retrofitting an existing property, while closing another (Rideau Centre). Back when Pinecrest was originally developed (1980), Bob Campeau predicted that the (then) new Pinecrest Shopping Centre would be one of the most successful shopping centres in Canada. With a 400,000 + sq. foot IKEA & a large SEARS store anchoring it, his prophecy was a few decades early but possibly may come true. Campeau (approaching 90 years old now, and living somewhere in the Ottawa area) must be smiling smugly.

    Submit a comment

Submit a comment

Submit a comment (we keep all emails private)
Agreement

We ask that users remain courteous. You may not post insulting, discriminatory or inappropriate content, which may be removed at our discretion. We are not responsible for user content and opinions. Use of this site as well as content submission & ownership are governed by our Conditions of Use and Privacy Policy.

Member organizations should be non-profit in nature, and promote legal activities. Any organization found promoting illegal activities or commercial products or services will be deleted from the site.

I agree with these conditions.

Advertising

Expert bloggers

BrazeauSellerLLP
Blogger
David Reid
Held up by the Holdover: Buyer...
Hire Immigrants Ottawa
Blogger
Kerri Pereira
Performance Management in a Diverse...

More bloggers here

CASE STUDY VIDEOS

An investment in yourself
LC Fitness Studio

No surprises, no upselling
RE/MAX Citywide Realty

Are you ready for the unexpected?
TK Financial Group

Newsletter

Please enter your email to receive our free newsletter

Subscribe to news alerts

Advertising