January 15, 2014 - 11:14 AM
KAMLOOPS — The city has done a lot of wheeling and dealing when it comes to the buying and selling of properties in recent months but the biggest transaction is the sale of 1452 McGill Road for $2.2 million.
The property, located across from the newly built Telus Data Centre and next to the Fortis B.C. property, had been on the market since 2012, at which point the city was looking for $2.6 million for the 2.79 acre parcel zoned industrial park. Developers Frank Quinn and Jeff Arnold purchased the property for $2.2 million and are now in the process of finalizing plans for the property.
Arnold, also the owner and president of A & T Project Developments Inc., says they are looking at a floorplan of about 75,000 square-feet across one, two or three buildings that will house a mix of light industrial and commercial use.
“We're just getting our heads wrapped around what the community needs,” he says, adding some units will likely be sold while others will be leased. “You will see us in the ground this summer.”
Other properties recently on the selling block include 343 Seymour St., a small parcel of surplus land that sold for $20,000 to help facilitate the building of two new single family homes, and 500 Lorne St. (the former CN Station), which saw the conversion of leasehold interests to fee simple interests and then the transfer of fee simple interests to the current tenants.
Meanwhile the city also acquired a small part of 128 Columbia St for $20,000 and a portion of 1100 St. Andrews Way for $90,000. The 21,000 square-foot lot will become part of West Highlands Park.
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News from © InfoTel News Ltd, 2014