Starbucks announces opening, people freak out. Starbucks announces closing, people freak out. Let’s get one thing out of the way. Attention local homeowners that have been emailing us: Don’t worry, your house value will not go down because of this. Our neighbourhood is just too awesome for Starbucks. You’re fine!
Last week we received confirmation from the owners of 1062 Gerrard Street East that the Starbucks is in fact leaving at the end of this Month. Did we really need a Starbucks there? Turns out local residents and visitors didn’t have a taste for their pricey brew. Locals instead, opted for the local Mom & Pop coffee option.
Queen Street has become too expensive for some retailers which has sent them searching for deals along Gerrard resulting in a resurgence of commercial tenant activity, enter Starbucks. It is an impressive location with a unique roof top patio (we’re certain a bar/restaurant will take over the space).
Jones & Gerrard seems to be the epicentre of the Gerrard St Gentrification and the current owner expects another high profile tenant to fill the space. Want the space for your business? You might be out of luck unless you have BIG name.
I will only look at retailers that have a strong covenant, not interested in independent….. I have many interested parties looking at the space currently
Was it the preference for a more authentic Mom & Pop experience or lack of activity along this particular commercial strip that did them in? Interested in your thoughts. Comment below, use our live chat (bottom right), or contact us anytime.
Go Jays! #comeTOgether