Rapid economic growth
Les Galeries Varennes is a 94,000 square foot enclosed retail shopping mall located in the picturesque town of Varennes, Quebec. This family-friendly city is known for its beautiful views of the St. Lawrence River, and is currently experiencing rapid economic growth with the addition of more than 3,700 new residences.
Maximizing market opportunities
With so many new people coming to the area, a growing number of opportunities existed for Les Galeries Varennes.
Through in-depth consultations and market analysis, Alanna Cantkier and the Asset Advisory Services team recommended that the property be transformed into a de-mall location, converting the enclosed shopping mall into an open-air centre, with a grocery store anchor.
Colliers engaged with the City of Varennes, along with the mayor and leadership team, to align the overall strategy and gain support. Careful consideration was also given to the most effective ways of addressing the increasing demand to create the most satisfying shopping experience.
The process began with an extensive evaluation of the existing tenant mix. Plans were then made for the strategic relocation or replacement of the tenants to maximize long-term profitability.
The grocery store anchor tenant was also consulted to ensure that the new development plans were both appropriate and met their specific requirements.
Success by the numbers
- Successfully renewed 8 out of 8 expiring leases in the past 18 months
- Implemented multi-channel community marketing and engagement strategies
- Managed RFP process to find architects for de-mall design
- Engaged with the City of Varennes to align marketing and development initiatives
- Significantly increased property value, marketing reach and ROI
Alanna Cantkier used her valuable personal networking channels within the industry to attract the most highly desired national brands.
Alanna also used a variety of additional marketing channels to advertise and promote the newly redesigned mall to the appropriate representation parties.
Throughout the process, Colliers has forged strong relationships with the City of Varennes and continues to build brand awareness and recognition within the local communities and neighbouring cities. Many exciting changes - with more to come!