The Hard Rock Cafe on Yonge to be Replaced with A Flagship Shoppers Drug Mart
The iconic Hard Rock Cafe at 279 Yonge Street in downtown Toronto has been leased to Shoppers Drug Mart, according to sources. It’s the first time in over 35 years that the retail space has been available for lease.
The 22,000 square foot multi-level retail space has considerable exposure on busy Yonge-Dundas Square, which many consider to be Toronto’s answer to New York City’s Times Square. According to CBRE marketing materials, the site offers exposure to over 60 million potential customers, annually.
Hard Rock’s lease on the 22,000 square foot property expires in June of 2017. The asking rent for the space was $2 million annually — about twice what Hard Rock Cafe was paying, according to a source. The space includes a ground floor of 7,503 square feet, a second floor of 7,126 square feet, and a lower floor of 7,373 square feet. There is also a third-floor office space within the building. The site includes a frontage of about 60 feet along Yonge Street, as well as more than 125 feet facing onto Dundas Square, which is animated with various activities throughout the year….