Revitalizing a Community at a North Vancouver Mall
New Anchor Tenant Secured and 400% rise in Leasing Inquiries

Situation

Centrally located on Marine Drive, Capilano Village is located along one of the busiest corners in North Vancouver. The property was worn out and hadn’t had any renovations in over 25 years. After taking over management in 2008, Martello took a proactive approach by working with the client to achieve his vision of creating a community shopping experience for the local residents by repositioning the building and strengthening the tenant mix.

Solution

Preparation for the repositioning took several years while working in tandem with the selected team architects, engineers, general contractors, and consultants. While plans were being developed to upgrade the physical elements, more work was being done behind the scenes improving the tenant mix and attracting a grocery store to the property.

The scope of this repositioning project included:

  • Developing strong relationships with the tenants
  • Renegotiating existing leases
  • Attracting new tenants and relocating existing tenants
  • Attracting a new grocery anchor
  • Entirely renovating the facade and structural components of the mall

Conclusion

Martello was able to successfully envision, design and implement the entire project from the ground up. The new Capilano Village has a strong sense of community about it, thanks in part to Choices Market being secured as the anchor tenant. Leasing enquiries have boomed and the property is now commanding 25% higher rental rates. We are proud to have been able to complete such a transformative project and have a positive impact on the local community.