Parker’s building could have new owner
By Collin Gallant on May 4, 2018.
cgallant@medicinehatnews.com @CollinGallant The biggest empty space in downtown Medicine Hat could have a new owner next month, the News has learned. The former Parker’s Countrywide Furniture location on Third Street has sat partially vacant since that business closed in 2015. On Wednesday, a conditional sale on the 60,000 square-foot building was approved at Court of Queen’s Bench where it is being dealt with under foreclosure proceedings. The potential buyer is listed in court documents as Ki Dae Kim of Lethbridge, and the selling price is $785,000. Local realtor Shauneen Vanderham, of Remax Commercial One real estate, handled the sale. She said since the deal is conditional with a 30-day deadline, she’s not at liberty to discuss future plans for the site. But, she says, the buyer appears interested in operating a business in part of the space and redeveloping other portions for lease. About half the facility is taken up by long-term tenant, The Bargain Store, but business observers have said the remainder could be reworked into several smaller bays, or even an indoor plaza-style mall. “It’s amazing news,” said Jeremy Silver, chair of the City Centre Development Agency. “What we would really, really like to see is something that will draw young parents downtown. There are 10,000 people in walking distance. Filling it up is another step in the right direction.” Silver says five new businesses have opened in the past two months, and several more are planning expansions within the city centre. “We’re on the cusp of something really big,” he said. “We’ll do whatever we can to help the new owner out.” The building, which features a parkade off Second Street, was previously a Woolco until Parker’s and Countrywide outlets in the city combined to take over the space in 2001. HSBC Bank is listed as the plaintiff in the foreclosure proceedings. 15
-14
