CWB has sold its downtown Winnipeg office tower.
President Ian White confirmed Feb. 5 that the eight-storey office tower has been sold for $9.7 million to Hopewell, a property investment company from Calgary. CWB will continue to occupy two floors in the building.
Company staff are currently housed on a single floor, but a second storey will eventually be required to accommodate additional head office personnel as the company expands its prairie grain handling network.
Staff from Mission Terminal, which is owned by CWB, will also move into the building, probably within the next few months, said White.
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“The deal has gone through and CWB is now renting two floors in the building,” he said. “It was a straight up deal. We had the building on the market through Colliers for two years or so, we were unsuccessful in actually attracting any other (potential) buyers although quite a number of people looked at it, so we were pleased to eventually sell it for what we believe is a fair market price.”
White said revenue generated from the building’s sale will be used to pay down debt.
brian.cross@producer.com
