Calgary Herald Building Sold Signalling the End of an Era
U-Haul Canada Ltd. purchased the building for $17.25 million
Nearly a decade after it first hit the market, the Calgary Herald building has been sold, symbolizing a changing media landscape.
The imposing brick landmark overlooking Deerfoot Trail and Memorial Drive S.E. has been purchased by U-Haul Canada Ltd. for $17.25 million, it was announced Wednesday.
U-Haul Canada will use the building for self-storage and truck rentals, said Bob MacDougall, senior vice-president of Cresa, listing agent for Postmedia.
“With densification, the amount of home storage space goes down, so there’s a big demand for storage units,” he said.
“The paper warehouse, printing presses and distribution areas (in the Herald building) are easy to transform to self-storage.”
U-Haul is using the former Calgary Sun building for the same purposes, added MacDougall, who also secured that deal.
Read the full article on the Calgary Herald.