Stackt Market signs a 10-year lease extension

Deal will allow for more investment, CEO says

- ANDY TAKAGI AND MARK COLLEY

The idea for Stackt Market, which offers local businesses short-term leases on retail space, came when CEO and founder Matt Rubinoff was looking for retail market space that could be relocated in the future.

Toronto’s shipping container market is in for the long haul.

Stackt, the 100,000 square-foot modular market at Bathurst and Front streets, has signed a 10-year lease with the city — the longest lease that property has ever seen, according to the market — and will expand to Ottawa, Calgary and Vancouver by the end of the year.

The move comes five years after the fast-turnover, small businessfocused market first opened in April 2019. Since then, Stackt has operated with short leases around two years long from the city. The long-term lease, which will end in 2034, will allow the market to invest more in the property, according to Matt Rubinoff, CEO and founder of the market.

“Being able to plan long-term projects now and initiatives, that makes life a lot easier,” Rubinoff said. “For all the businesses around us with it, being able to plan and look into the future farther, it’s great.”

Stackt has been a boon for some local businesses, who use the market’s short-term leases on small retail spaces to test the waters on new ideas. Selina Muriel, founder and owner of apparel brand Carmico, has witnessed that first-hand.