Monday, March 31, 2014

■Vaughan Mills

J. Crew Factory

Sunny Sunday morning we got some errands to do in Vaughan and had some lunch at the Vaughan Mills before heading back to Toronto. This “Super Regional Centre” has a target market that often extends 40 or more kilometres from the centre’s location.”

Typically we enter Vaughan Mills from Bass Pro Shops’ main entrance. This store always reminds me of one of rides at Universal Studios. Jaws or maybe Jurrasic Park…

At J.Crew Factory store I wasn’t really thrilled to buy anything as soon as I saw a couple of price tags though “Up to 50% Off Sale” was going on.  They most likely have Percentage Lease* with the Landlord; therefore, they need to markup on the selling price.

*Percentage Lease
“A percentage lease, found primarily in the retail sector, provides that the tenant must pay a fixed minimum monthly rent, plus a percentage of gross monthly income in excess of base sales calculated using the minimum rent.”

Source: The Commercial Real Estate Transaction



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