Monday, April 26, 2010

Filling The Gap.

Since the Walmart location in Confederation Mall closed earlier this year there has been a lot of speculation of what might replace it, especially since it was reported soon after that negotiations were underway with a major retailer to fill the space.  We now know that the retailer in question is Canadian Tire.  The obvious question is why.  Canadian Tire already has a large store located just across the street from the mall, one which in its current form isn't that old.  What advantage is there to spending a large amount of money moving the store a short distance, other than gaining more room?  Reportedly the new Canadian Tire will be the largest in the country when it opens in 2011.  According to a CKOM report  negotiations have been in the works for a year, and the move has prompted other unnamed national retailers to consider setting up outlets there as well.  I would guess mall owners ICR made Canadian Tire a very generous leasing offer.  Perhaps they have a potential client for the current Canadian Tire property waiting in the wings as well, as that store will close when the new one opens.

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