Two major retailers have are vacating their shops on Bloor Street West in Yorkville.
Williams-Sonoma and Pottery Barn will leave their huge locations at 100 Bloor St. W. once the lease expires sometime in 2015.
The exact departure date has yet to be determined.
Also known as the Mink Mile, the area is considered Canada’s most expensive retail strip.
A spokesperson told the Toronto Star that the decision was made in the face of escalating rents in the area.
John Crombie, with commercial real estate brokerage Cushman & Wakefield, told the Star rents are at around $325 per square foot, compared to $225 around seven years ago.
The two stores have been at that location since 2002.