ByWard Market's Mercury Court sells for $22 million

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A private investor has purchased a landmark ByWard Market property for $22 million, Primecorp Commercial Realty announced late Tuesday.

Mercury Court is a 51,459-square-foot, three-storey office building with ground-floor retail on the corner of George and Dalhousie streets. Its anchor tenants include the Lone Star Texas Grill, Second Cup and Gabriel Pizza.

The building was formerly owned by local property management company Toth Equity Ltd. The deal was completed by Primecorp’s National Commercial Group, led by CEO Aik Aliferis and president Nick Pantieras.

“Seldom do properties such as this trade in any Canadian market; the opportunity to acquire such an asset is a once-in-a-lifetime opportunity,” Mr. Aliferis said in a statement, adding the location makes it a “trophy acquisition” for the unnamed buyer. “Typically, private investors will keep this type of property in the family for generations.”

“With the addition of this asset, he has added an exceptional and significant property to his growing portfolio," Mr. Aliferis said.