By Brent Bosker

Downtown losing grocery store

Feb 1, 2011 | 5:15 AM

Prince Albert Co-op’s move from downtown is in motion.

The company confirmed Monday that they've accepted an offer to sell the 85,000 sq ft property attached to the Macintosh Mall.

“We've had an offer on the downtown food store and that has been accepted and approved by the board of directors,” said Dave Marchant, manager of the Prince Albert Co-op.

The buyers’ has a number of standard conditions that need to be met before the sale can move forward, he said.

“They would like to have their own architect and engineers have a look at the building and let them know … if it can be used for what their intention is.”

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Marchant could not say who the buyer is until the sale is finalized.

“We hope to have … the final conditions removed in the next several weeks,” he said.

Co-op is currently constructing a new grocery store at the Cornerstone development and will close their downtown location once the new store is complete sometime in June.

Duane Braaten with Advantage Real Estate said the new owners will not be allowed to open a new grocery store in the downtown location.

“There can't be another grocery store engaged in business here that will compete with the Co-op.”
Braaten said the restriction is not uncommon.

“I've sold other properties within the city and area that had a restrictive convent on grocery stores. It protects the future business of the companies that are selling.”

Without revealing the potential buyer, Braaten said it would be positive thing for the downtown if the deal goes through.

“I see it complimenting the integrity of the downtown core in the short and long term. I think it can be a real compliment to the community,” Braaten said.

bbosker@panow.com