Tom Lee Music will vacate its longtime space on Granville Street, between Nelson and Smithe streets in April and move up the street to a second-storey location at the corner of Granville and Georgia streets.
The company has been in a 90,000-square-foot building at 929 Granville St. that its sister company, Soco Investments, sold to Bonnis Properties last April.
The musical instruments, sheet music and music-lesson company's occupation at 929 Granville St. totalled about 20,000 square feet, vice-president Graham Blank told Business in Vancouver on Jan. 11.
Its new space, in the 麻豆传媒映画Centre Building, is about 14,000 square feet. The company will separately lease 2,500 square feet for administrative space at 650 West Georgia St., Blank said.
BIV first suggested that this move would take place in听.
Other tenants at 929 Granville St. include EF International Language Centre and the Arthur Murray Dance Studio.
With Tom Lee Music vacating the first three floors of 929 Granville, the space is expected to open up to new retailers. The street-front space in the building is large enough for five separate retail units.
鈥淲e鈥檒l have increased street-front visibility from a signage perspective,鈥� Blank said of his new space, which will be accessible via an escalator just south of the Starbucks.
鈥淭here鈥檚 about 10 times the traffic at the corner of Granville and Georgia, at least, than the 900 block of Granville.鈥�
Blank said that the key reasons that Tom Lee Music is moving are that the new space:
- is at a more visible location with more traffic;
- is in the heart of downtown, which is where the company鈥檚 customers are; and
- is closer to parking lots.
鈥淲e鈥檙e thrilled that Tom Lee Music will be staying downtown,鈥� said Charles Gauthier, CEO of the Downtown 麻豆传媒映画Business Improvement Association.
鈥淭om Lee Music is a major retail, tourism and employment destination as well as an anchor tenant on the iconic Granville Street.鈥�
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