Updated: The Apple Store at Conestoga Mall opens August 13, 2011
Have you heard the latest news behind this construction site at Conestoga Mall?
We have heard rumblings for months that the next Apple retail store would be in Waterloo Region, and we are now able to confirm that Apple is bringing a retail store to Conestoga Mall in Waterloo!
Take a look at the options for Apple jobs in Canada – recently updated to reflect the new location:
Here are some pics of the construction site Apple is moving into at Conestoga Mall
The signature Apple black floor-to-ceiling hoarding (notice it is sealed around the varied ceiling, unusual for typical mall construction) has appeared in Conestoga Mall at the old Fairweather location.
A foreman on site has confirmed that this is the location of the new Apple Store in southwestern ontario:
“Its going to be all glass across and is costing over million dollars.”
What does Apple @ Conestoga mean for Waterloo Region?
In every city, the Apple Store is an exceedingly valuable piece of real estate.
The Apple Store in Montreal at 1321 Ste. Catherine Street West recently sold for $15,750,000 – an impressive figure for a 9,007 square foot store.
To give you some reference for how expensive that valuation is, the Vaurdreuil Shopping Centre near Montreal recently sold for $25,400,000, and its a 118,330 sq ft new format shopping centre with a Canadian Tire, Staples (Bureau en Gros), Golf Town and more.
Having Apple as a destination tenant at Conestoga Mall is great news for all the other stores in the area – except maybe Future Shops’s Apple department – because people will head to the mall to check out the new toys at Apple, and they’ll inevitably browse around and grab food at adjacent businesses.
What does it mean for competing retailers like Carbon Computing? When Apple has come into similar communities, it has been hard for independent authorized retailers to stay in business and maintain a valuable point of differentiation.
It seems like the $75 million investment into Conestoga Mall over the past few years is paying off for owner Ivanhoe Cambridge. Even more good news for the mall will follow – I predict that Target moves into the Zellers space too (the other option being the Zellers space in Bridgeport Plaza)
PS – have a Mac? Need help? Talk to my friend Matt Scobel:
Matt Scobel, owner of MacAnswers provides Apple training, support, repairs, and upgrades.MacAnswers provides services both on-site (in your home or office) to customers within a 100KM radius of KW and remotely via screen sharing to the rest of the world. He also answers Apple related questions and advice via Twitter (@MacAnswers) and Facebook (Facebook.com/MacAnswers).
(Hat tip: Duke of Wellington on WonderfulWaterloo.com for pointing me to Apple’s Now Hiring section)