Transcend Mercer location to close end of February
Transcend Coffee announces the closing of its Mercer location effective Feb 27, 2017
In the fall of 2014, Transcend Coffee partnered with Kelly Pope (developer and owner of the Mercer Building) open a cafe in the basement of the Mercer Building. Both parties understood that the location was a risky venture given its more remote downtown location and the constant interruptions in the area at the time, due to the construction of the Rogers Arena.
Despite understanding the risk involved in the venture, Kelly Pope was very keen to offer tenants of the Mercer Building a quality coffee service and to achieve this goal, offered Transcend an unprecedented no-cost lease in addition to funding all the required leasehold improvements. Transcend Coffee brought equipment and day-to-day management to the joint venture.
For two years, this team managed the lack of foot traffic and patrons with the hope that the opening of Rogers Arena in 2016 would bring much needed footfall and business to the area. In September 2016, the arena opened with much fanfare, and despite some early signs of increased business, a sustained increase in traffic and footfall did not transpire as expected. While arena goers are keen to find venues to enjoy a drink and some food before a game, they had no interest in coffee.
Further, the increased costs because of the arena opening have made it difficult for patrons of Transcend Coffee, among other businesses in the area, to afford parking, further diminishing business throughout the week.
“It is a very rare thing in business”, said Poul Mark (founder of Transcend Coffee) “to establish a relationship between landlord and tenant like we have with Kelly Pope. His willingness to put the interests of his tenants first makes taking risks like Transcend Mercer possible. Closing this great cafe down was a hard decision for both parties, but in the end, we both knew it was the best decision."
Consequently, Transcend Coffee is disappointed to announce that it will close its Mercer location end of day February 26, 2017.
We would like to thank all our loyal patrons for their support, and look forward to seeing them at our Garneau location and the Ritchie Market in March.