Joey Restaurant Chain Secures Prime 17,000 Sq Ft Space in Toronto’s Financial District for Flagship [Interview]

Date:

Share post:

Premium-casual restaurant Joey has secured a 17,000-square-foot ground-floor space at the foot of  20 King Street West in Toronto.

Alex Edmison

Alex Edmison, Senior Vice President, of the Urban Retail Team with real estate firm CBRE, said the space has 25-foot ceilings and is column-free.

“It’s at the corner of Yonge and King. So right down in the financial core,” he said. “I think it’s nice that you see them coming downtown because the narrative around downtown, I don’t think rightly, has been negative. It’s getting way more positive now and we’re seeing a lot of life downtown.

“And just seeing Joey’s joining the fray I think is fantastic. So I think that’s a good message to the market. They’re obviously a phenomenal tenant and that’s just so exciting on so many levels.

“It’s going to be a great addition to Toronto.”

Future Joey King Street (Image: Dustin Fuhs)

No date has been announced for the opening of the restaurant. 

Edmison said the building had been occupied by the Royal Bank since it was built in the 1960s and it sits at centre ice in the core of Toronto.

“This massive new Joey restaurant will not only give people a new reason to come to work, but to come and stay and play in the financial district,” said Edmison, noting that the restaurant will also offer premium private dining experiences for celebrations of all sizes.

“This is part of a wave of exciting new restaurants opening that are making downtown the place to be. These new restaurants popping up around the financial core are making it a dinner destination for office workers as well as those considering coming from around the GTA for an amazing downtown dining experience.”

Future Joey King Street (Image: Dustin Fuhs)
The King Street JOEY location under construction. (Image: CBRE)

Edmison said Joey’s has secured a marquis location. 

“If you asked ‘find me 17,000 square feet column-free with 25-foot ceilings’ there might be only one building in Canada that offers that. It’s very rare. I think there’s something very special to be said about the space,” he added. 

“This building has been occupied by the Royal Bank since it was built. So to get this kind of real estate, and these opportunities, they don’t come around very often. Like, you might see a whole century pass and there might only be two tenants in this building in the span of 100 years.”

In a leasing brochure, CBRE said 20 King Street West is ideally connected to the PATH system, an underground pedestrian walkway that spans more than 30 kilometres of restaurants, shopping, services and entertainment. The PATH provides links between 75 buildings in the downtown core including some of Toronto’s most popular tourist and entertainment attractions, including Scotiabank Arena, The Eaton Centre, Roy Thompson Hall, The Hockey Hall of Fame, The CN Tower, and Ripely’s Aquarium. The PATH is also connected to six subway stations, including King Station which is located directly next door to 20 King West. King Station has a daily ridership of over 60,900 people.

Joey Eaton Centre at CF Toronto Eaton Centre (Image: Dustin Fuhs)

The Joey Restaurant Group, one of North America’s top restaurant chains, is demonstrating its firm belief in Toronto, added Edmison. 

The Group has existing Toronto locations at CF Toronto Eaton Centre, Yorkdale Shopping Centre, CF Sherway Gardens, CF Markville and CF Shops at Don Mills (along with 18 other locations nationwide), and it had been looking for another space in the heart of downtown Toronto.

Edmison and his team at CBRE worked on securing the space on King St.

Black & Blue Toronto (Image: Dustin Fuhs)

CBRE said the Joey deal is the latest in a trend of high-end restaurants betting on downtown Toronto, including Alo Bar at 150 York (another CBRE deal) and Black & Blue at Exchange Tower, a deal that also involved CBRE.

Chinese fine dining concept Mott 32 is coming to the Shangri-La hotel at 180 University Ave and Daphne opened earlier this year at 67 Richmond St W, it added.

“The future of restaurants and great dining experiences in downtown Toronto has certainly never been brighter,” said Edmison.

Mario Toneguzzi
Mario Toneguzzi
Mario Toneguzzi, based in Calgary, has more than 40 years experience as a daily newspaper writer, columnist, and editor. He worked for 35 years at the Calgary Herald covering sports, crime, politics, health, faith, city and breaking news, and business. He is the Senior News Editor with Retail Insider in addition to working as a freelance writer and consultant in communications and media relations/training. Mario was named as a RETHINK Retail Top Retail Expert in 2024.

1 COMMENT

  1. Of all the chain restaurants Joey’s is my favourite however their prices are now getting out of touch with my wallet. We used to go every few months for a dinner night out but now we go once a year for our anniversary dinner. I do look forward to checking this new location out at some point!

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More From The Author

RECENT RETAIL INSIDER VIDEOS

Advertisment

Subscribe to the Newsletter

Subscribe

* indicates required

Related articles

Canadian Consumers Willing to Switch Grocery Stores while Seeking Bargains: Study [Op-Ed]

Sylvain Charlebois says that a new survey offers a rigorous look into the preferences and behaviours shaping the future of grocery shopping in Canada.

Canadian Retail Sales Dip: Year-End Drop in Discretionary Spending [J.C. Williams Group Analysis]

2023 Canadian retail sales ended in a lacklustre way, with controlled consumer spending amid a tumultuous year.

Landlord QuadReal Launches Pickleball Courts in Commercial Properties to Create Consumer Experience [Interview/Photos]

The initiative helps revitalize and re-imagine spaces using sustainable development practices, while incorporating the latest technology to enhance the visitor experience, blending physical and digital elements.

Iconic Flo’s Diner in Toronto’s Yorkville Forced to Close After 33 Years Amid Landlord Dispute 

Retail Insider interviewed Flo’s co-owner who discusses the “heart wrenching” situation where he is being forced to close his business that began on Bellair Street in 1991.

Anatomy of a Leader: Teresa Spinelli, Owner of Alberta-Based Italian Centre Shop Ltd.

Spinelli discusses her leadership of the popular retailer which has expanded over the years, describing how she struggled to run the company at first and grew to love it.

Upscale Canadian Fashion Brand SMYTHE Expands with New Standalone Calgary Store [Interview/Photos]

It's the second store location for the Toronto-based brand, which is seeing success with its exclusive womenswear collections.

Toronto’s CF Sherway Gardens Hits Sales Milestone with Exciting Retail Growth and Future Plans [Interview]

The shopping centre is adding new retailers as sales per square foot hit an all-time high, with plans to re-tenant Nordstorm as foot traffic grows following Eataly's opening in the mall a few months ago.

ECS Coffee Opens Canada’s Largest Coffee and Espresso Equipment Gear Showroom and Retail Space in Toronto [Interview]

The new Etobicoke location is unique to Canada if not North America, according to its founder, with coffee roasting, equipment showroom, over 500 varieties of coffee, Youtube studio and various in-store experiences. He has plans to expand the concept nationally.

New Loblaws City Market Opens in Vancouver’s ‘The Post’ Building, Adding Grocery Competition to the Downtown Core [Podcast]

Craig and Lee discuss the opening of a new Loblaws City Market in downtown Vancouver's renovated Post building, and they explore its potential impact on local grocery shopping.

Loblaw Announces $2 Billion Investment in Canada for 2024 with Dozens of New Stores and 7,500 New Jobs [Expert Comment]

The retail behemoth will be growing substantially this year, following backlash over profits as inflation continues to impact Canadians.

Dubai-Based Asian Street Food Concept ‘Wok Boyz’ Expands into Canada with Plans for Multiple Locations [Interview]

The company's founder says the popular concept, with personalized meals, has an opportunity to grow substantially with its high-quality ingredients and theatrical flare, complete with fiery customer-facing woks.

Calgary Surge Basketball Team Launches Innovative Pop-Up at CF Chinook Centre to Boost Community Engagement [Interview]

The retail activation, which opened this month, is resulting in heavier foot traffic in a quieter part of the mall.