Colliers International Niagara office closes record deal
of the Colliers International Niagara office
closed a record sale of a 10-storey, 150,545-square-foot downtown high rise – the second-largest office building in St. Catharines, Ontario.
One St. Paul, a direct gateway property to the core, is a high-rise component (office) and low-rise (office retail) complex in Downtown St. Catharines. The property sold on April 19, 2018 for $9,100,000 to a local investor, Gerard Grand (ESH Company), who is devoted to the Niagara Region and to driving business to the property. His plans for the property include continuing to lease the building and redeveloping the units.
“This deal was complicated for several reasons,” says Ralph Roselli, Sales Representative. “Among them were a high vacancy rate, waiting on the vesting order and having the property under receivership. All of these factors did not make it an easy transaction but we were committed to the success of our clients and are extremely proud to have represented this record deal in St. Catharines that is making history.”