Starbucks permanently closes prime location in Vancouver’s Gastown after nearly 30 years – BC | 24CA News

Starbucks has abruptly closed a major location throughout from the steam clock in Vancouver’s Gastown.

The retailer at 199 Water Street operated for 28 years earlier than it shut down completely on Dec. 31, 2022.

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Starbucks Canada stated the choice to shut the Gastown retailer was made after cautious consideration.

“As a standard practice, Starbucks continually evaluates its store portfolio to ensure it’s meeting the needs of partners (employees), customers and the communities in which it serves.… The company has provided partners at this location the opportunity to transfer to a new opportunity within Starbucks,” learn an announcement from Starbucks Canada public affairs director Carly Suppa.

Retail strategist David Ian Gray with DIG360 Consulting stated in recent times, Starbucks has been slowly however constantly closing city shops in favour of drive-through and partnerships in Canada.

“Gastown is not what it was, that’s for sure,” Gray advised Global News.

“It likely coincided with the end date of the lease. Sometimes the penalty for early termination is prohibitive.”

Gray additionally stated hovering hire is an actual challenge for retailers proper now, with already struggling companies preventing landlords’ needs for optimum hire – whether or not or not lease charges correctly align with the potential of their neighbourhoods.

Starbucks Canada didn’t remark when requested if excessive hire performed a task within the resolution to shut the Gastown retailer.

The espresso large’s Seabus Station location close by, the primary Starbucks retailer in Canada, stays open.

Corbel Commercial Real Estate Services stated a ‘For Lease’ brochure for 199 Water Street shall be finalized shortly.

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