Target, US Retailers Go Big
This morning's big announcement that Target Canada will anchor One York with a massive 145k SF store is only one part of US retailers' unabated appetite for a Canadian retail presence.
We chatted with RKF Canada president Steven Alikakos (right, with RKF CEO Robert Futterman), whose firm is finalizing a move into 3,000 SF of new brick-and-beam offices on King Street just west of Portland (it'll take its new digs May 1). RKF—a US-based retail leasing, sales, and consulting service—expanded to Canada in December. Interest among US and international companies looking to expand into Toronto just keeps growing, he says.
RKF specializes in urban retail, particularly among mid-range to high-end luxury tenants. “Toronto is the fourth-largest metro centre in North America,” he says. “There is something going on up here.” (There must be something in the bottled water... it's only $3.99/pack at Target.)
His day was spent showing an interested party from Vancouver a space at Allied’s QRC building (above; the company would be first to market). RKF’s relationship with major American retailers means the lines of communication between landlords with listings here and the US-based brands looking to expand their retail presence here is more seamless, Steven says. “There are more leads and interest in Canada than I've ever imagined.”