Sale of CWB building on Main Street finalized
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Hey there, time traveller!
This article was published 06/02/2015 (3922 days ago), so information in it may no longer be current.
A Calgary-based property development and management firm — Hopewell Development — is the new owner of the former CWB building on Main Street.
CWB (formerly the Canadian Wheat Board), CEO Ian White confirmed today that the sale of the 143,000-square-foot, eight-storey building at 423 Main St. has been finalized, and that Hopewell is the buyer.
CWB revealed in December that a tentative agreement deal had been reached to sell the building, but it wouldn’t reveal the name of the buyer or the purchser price until the deal officially closed.
The deal with Hopewell also calls for CWB to lease back the top two floors of the-now mostly vacant building. White said an independently-owned and operated day care that occupies about half of the building’s second floor also will be staying, at least for now.
“That (a long-term leasing arrangement) is something that eventually they will have to work out with the new owner,” he said. “But at this point, they’re staying there and they’re paying rent (to Hopewell).”
CWB put the building up for sale as part of its federal-government-imposed transition
from a Crown corporation with the monopoly on wheat and barley sales in Canada to a private grain company.
White said that transition, which began in 2012, should be completed sometime this year.