The former headquarters of Canadian forestry company MacMillan Bloedel has sold to a consortium of real estate investment groups.
The 26-storey, 350,000-square-foot office building at 1075 West Georgia – nicknamed The Waffle Building for its unique checkered appearance – was purchased by Reliance Properties, KingSett Capital and Crestpoint Real Estate Investments. The sale is expected to close today.
The 50 year-old building was constructed by architect Arthur Erickson, known for the famed Eppich House 2 in West Vancouver.
The exact sale price is unknown. The building has a current assessed value of $255.1 million – up over 20 per cent from the previous year.
The building sold for $76.8 million in 1999 after MacBlo ceased operations.
