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Flame On - Le Creuset Opens 1st Canadian Store

October 21, 2010

We are pleased to announce that Le Creuset opened its 1st Canadian location on September 29th at Chinook Centre, in Calgary, Alberta. The 1800 sq.ft store is strategically situated in the heart of the centre's new $277 million expansion area, on the mall lower level. Store design is first class (see photo), highlighted by the striking flame coloured exterior, and an interior which is colourful, warm, and very well merchandised. Build-out cost for this flagship location exceeded $550 psf.

Chinook Centre is the #2 mall in the province of Alberta, with sales per square foot in excess of of $840 psf. Furthermore, with the addition of 50 new retailers, the shopping centre fully expects to increase its market share. Chinook Centre now has a total Gross Leasable Area of 1.2M and approximately 215 stores. Other new retailers in this 180,000 sq.ft expansion include: Fossil, Apple, Harry Rosen, Anthropologie, Urban Outfitters, Burberry, Coach, A/X Armani Exchange...etc

Le Creuset was founded 85 years ago, in 1925, and is located in Fresnoy Le Grand in Northern France. The company has become an iconic brand known for world quality cookware and housewares under the Le Creuset and Screwpull brand names. Since 1987, the company has been owned by Paul Van Zuydam and is self-financed. Today, Le Creuset operates over 102 store locations in 15 countries.

Le Creuset will consider opening locations on high traffic main streets and super-regional shopping centres, in affluent Canadian markets. Desired co-tenants include: Coach, Aritzia, Lululemon, Sephora, Apple, ...etc

I'd like to thank Darryl Schmidt, Senior Director of Leasing Western Region for Cadillac Fairview, for his help in completing this transaction.