Former Nordstrom Rack Location in Toronto Snapped Up by Altea Active
Former Nordstrom Rack Location in Toronto Snapped Up by Altea Active
Lifestyle Fitness Company Plans to Introduce a New Brand to the Market
First Capital REIT has secured a new tenant for one of the most prominent retail locations in Toronto following Nordstrom’s exit from Canada earlier this year.
Lifestyle brand Altea Active, which focuses on fitness, wellness and social amenities and services, has agreed to lease 31,000 square feet at 1 Bloor East, once home to a Nordstrom Rack. Altea Active plans to introduce a new brand called Avant and bring what it describes as a unique high-design luxury wellness destination to the posh Yorkville neighbourhood.
The site, located at the southeast corner of Yonge and Bloor streets, where Toronto’s two major subway lines meet, has been vacant following the March 2023 decision by the Seattle-based retail chain to exit Canada. At one point, Nordstrom had 13 locations across Canada before winding down its operations here.
“This evolution is a major milestone as we continue to elevate our member experience and push the boundaries of what a fulsome wellness and social club should be with premium amenities and luxury hospitality infused at every touchpoint,” said Michael Nolan, co-founder and chief operating officer of Altea Active, in a statement.
Altea Active, which operates in Winnipeg, Toronto’s Liberty Village neighbourhood and is about to open facilities in Vancouver and Ottawa, said its new location in Yorkville would be about one-third of the size of the company’s other Toronto location but still feature strength and cardio equipment, private and small-group training options, and high-end amenities.
Avant says it is challenging the perspective of a traditional gym with amenities and premium offerings and taking a hospitality approach.
The Toronto facility, which will open in early 2025 and includes a long-term lease, will be designed by Chapi Chapo Design, with the company hoping to mimic features found in five-star hotels. Details of the lease were not released.
“We are excited to join this project, fusing our global expertise in luxury hospitality design with the unique essence of the Yorkville community to craft something extraordinary, drawing inspiration from the world’s most prestigious hotels and luxury experiences,” said Boris Mathias, partner & co-founder of Chapi Chapo Design, in a statement.
Eric Sherman, head of national operations at First Capital REIT, called Avant a revolutionary concept in luxury fitness.
Source CoStar. Click here to read a full story
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