CWB building sold: reports

(Dave Bedard photo)

CNS Canada — The former Canadian Wheat Board’s downtown Winnipeg office building has been sold, according to media reports.

The eight-story building on Main Street was bought by Calgary-based Hopewell Development, reportedly for $9.7 million.

The former wheat board, now called CWB, will continue to lease two floors of the building. The sale was initially reported in December, but was only finalized at the end of January.

Real estate services firm Colliers International, which listed the property in 2012, said CWB had “reinvested over $17 million in capital improvements since 2006, including a complete floor-by-floor renovation of the building.”

The building’s “location, open-concept flexible design and significant capital reinvestment provides for an exceptional turnkey office user/investment opportunity.”

A representative for Hopewell wasn’t immediately available for comment Friday on its plans for the site.

The property, with over 146,000 square feet of office space, was listed for sale as the company transitioned from its former role as the single desk seller of Prairie wheat to the open market.

As part of CWB’s transition to becoming a fully private company by 2017, the company is building grain terminals in Manitoba and Saskatchewan and has bought other pre-existing terminals and port facilities. — CNS Canada, with files from AGCanada.com Network staff

 

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