Comment 51900

By Tartan Triton (anonymous) | Posted November 19, 2010 at 06:34:12

Yale is not Redcliff (3 of whose 18 malls are in the GHA). Neither is it Cadillac Fairview (one-time owner of the core's Eaton Centre, long-time owner of Lime Ridge Mall), a company just a few years older than Yale. Yale specializes in office towers. It is a company whose retail portfolio is limited to Jackson Square – and, yes, it holds rights to the site until something like 2071.

Nearly a third of Yale’s nation-wide square footage is located in Jackson Square and its attached towers (the company's estimate is that the mall is around 390K square feet while the towers exceed 1M square feet. Broken down to its constituent parts in Yale's “portfolio” sub-page, the property becomes five holdings – of the company’s 19.

The hitch is that Jackson Square would seem to be viewed as little more than a pancaked office tower. This isn't a company that competes in retail, so it would have no compelling reason to invest in its retail assets. Since there isn't even a website for Jackson Square, I'm not particularly encouraged to believe that this is a company that is particularly responsive to consumers. I would love to be proven wrong.

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