Many of these locations previously had lineups 9-5, Monday to Friday (or at least during the peak times [morning and mid-afternoon]). What does it say about the long-term viability of downtown commercial real estate when dozens of Starbucks locations are willing to abandon prime locations?
Is Starbucks closing all these Toronto locations because it realizes office occupancy won’t recover for at least several months?
Or because it believes office occupancy will never fully recover?
Hard to say.
Still, one could argue that Starbucks had too many locations to begin with. However, the company is not known for being reckless with its real estate footprint. I would think this retreat is not caused by simple redundancy. Rather, I assume Starbucks believes the strategic long-term viability of its downtown presence has changed.
When we’re past Covid-19, life might look very different. And not just because your local coffee joint is gone.
Below is the full list of Toronto Starbucks locations that are closing imminently:
- Bathurst and Fleet (600 Fleet St.)
- Bay and Elm (686 Bay St.)
- Bay and Grosvenor (37 Grosvenor St.)
- Bloor and Bathurst (494 Bloor St. West)
- Bloor and Gladstone (1090 Bloor St. West)
- Church and Gerrard (66 Gerrard St. East)
- Davisville and Yonge (1909 Yonge St.)
- Dufferin Mall (900 Dufferin St.)
- First Canadian Place (Sat)
- Front and Jarvis (81 Front St. East)
- Hillcrest Mall (9350 Yonge St.)
- King and Peter (370 King St. West)
- King and Sherbourne (251 King Street E.)
- PATH Concourse, Royal Bank Plaza – closing Sunday
- PATH Concourse, Richmond Adelaide Centre – Closing Sunday
- Promenade Mall (1 Promenade Cir.)
- Queen and Ossington (2 Ossington Ave.)
- Queens Quay and Lower Jarvis (132 Queens Quay E.)
- Scotia Plaza (40 King Street West) – closing Saturday
- St Clair and Bathurst (504 St. Clair Ave. West)
- Wellington and John (224 Wellington St. West)
- Wellington and Simcoe, RBC (155 Wellington St. W) – Closing Saturday
- Wellington and University (55 University Ave.)
- Yonge and Wellesley (8 Wellesley St. East)
- Yonge and College (450 Yonge St.) – Closing Sunday
- Yonge and Queens Quay (1 Yonge St.)
- York and Bremner (25 York St.)
- York Mills Centre (16 York Mills Rd.)
List source: Blogto