December 1, 2025
SOURCE: Western Investor
Landmark property last changed hands in 2013
DEAL | Cobb’s Block Central, a prominent two-storey multi-tenant commercial building at 5015 50 St., Sylvan Lake, Alberta, sold November 14 for $6 million.
Twenty retail and professional services firms occupy the 26,256-square-foot property, which is 85 per cent occupied, contributing to a diversified and stable revenue base.
The purchaser, Brookstone Investment Corp., saw the asset as an opportunity to add scale and income diversity to its portfolio. The projected cap rate at sale is 8.2 per cent.
The vendor, River City Developments Ltd., acquired the property in 2013 and received a combination of cash and convertible preferred shares in Brookstone through the deal – a model Brookstone is using to roll-up multiple properties towards its goal of building a commercial real estate portfolio valued at $100 million.
PRICE | $6,000,000
