Lululemon lovers will have a massive new Toronto shopping spot in the not-too-distant future.
The beloved Canadian athletic apparel retailer -- which most recently entered the footwear business -- will take over coveted real estate at 2 Bloor Street W. with a shiny new three-storey retail location.
KingSett Capital broke the news late last week. The 12,100 sq. ft store will occupy a revamped podium at the base of the office building, which originally opened in 1972.
The building sits at a coveted piece of Toronto real estate. “It’s a flagship corner at Yonge and Bloor Streets, which is Canada’s busiest intersection in terms of public transit (the Bloor TTC station), pedestrian, and vehicular traffic,” says Graham Smith of JLL, who acted as the landlord broker for the deal.
The sprawling new store will take over space previously occupied by Swarovski and Talbot, who have already moved out to make way for the renovations.
“The office lobby entrance is being relocated to Yonge Street to create a signature retail store featuring a double-height glass facade on the corner,” says Smith. “The store is part of a substantial podium renovation including an expanded third floor glass façade and an office lobby upgrade.”
The new flagship is set to open in 2024.
In a climate of no shortage of stay-at-home orders, it's been an extremely lucrative few years for the Lululemon brand; in September 2021, its shares hit an all-time high. In other Lululemon real estate news, its founder Chip Wilson’s sprawling oceanfront Point Grey home in Kitsilano remains British Columbia's priciest abode.
