British Columbia

Hudson's Bay Company looking to sell flagship Vancouver property

The Granville Street property is currently occupied by a Hudson's Bay department store, which has a long-term lease.

Interim CEO says any sale would include the continued operation of the store

A joint venture between Hudson's Bay Co. and RioCan Real Estate Investment Trust is looking for bidders to buy the location at Granville and West Georgia Streets. (Nathan Denette/Canadian Press)

Hudson's Bay is looking to sell its flagship store in downtown Vancouver.

A joint venture between Hudson's Bay Co. and RioCan Real Estate Investment Trust says it may sell its downtown Vancouver property.

A statement said that it's engaged with CBRE and Brookfield Financial Real Estate Group to explore a sale.

The Granville Street property is currently occupied by a Hudson's Bay department store, which has a long-term lease.

Interim CEO Richard Baker says any sale would include the continued operation of the store.

The Hudson's Bay location on June 10, 1918. The old store is in foreground, the new store in the background. Granville Street is to the left. (National Archives of Canada/W.H. Calder via Canadian Press)

The joint venture also says it expects to close on a $200-million mortgage on the property and the proceeds will be distributed proportionally to its partners.

The joint venture owns or controls 10 flagship properties in Canada.

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