The Pearl Group just acquired 340 Queen St W and will replace the low-slung building with a multi-level retail complex. Bisnow met up with Jordan Pearl on site to discuss his firm's latest deal.
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We snapped Jordan in front of 340 Queen W, which The Pearl Group purchased last month.He says the plan is to demolish the existing single-storey building—currently occupied by clothing store Urban Behavior—and in its place construct a multi-tenant retail complex. The acquisition by Pearl is the latest addition to one of the city’s largest collections of high street retail properties, which include a number of commercial buildings along Queen West.
Last fall The Pearl Group acquired 577-579 King St W (above) and will be redeveloping the mixed-use buildings. Months earlier the company bought 160 John St (below), a five-storey building the company has renovated to serve as a downtown satellite office for Nike, which is based in Markham. Jordan notes that his brother Zane works with him managing properties and construction. “And I’m more of a deal guy; I find the deals.”
Jordan learned the business from his grandfather, Martin, a low-rise builder who launched The Pearl Group in the '70s and amassed much of its portfolio. Martin passed away in 2012. “He was tough but a great mentor and teacher," says Jordan, who continues growing the company while staying true to its founding focus: high street properties. “I don’t want to be an explorer. We want to have cash constantly flowing, and for that to happen you have to be in the best locations.”
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