What do you think of this project?

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All "bricks and mortar" stores permanently closed in 2020...
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Army & Navy Dept Stores

Army & Navy Dept Stores. 9,242 likes · 2 talking about this · 54 were here. Proudly Canadian Owned and Operated for 100 years. Visit us at our online store at www.armyandnavy.ca
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Indeed, and I'm sure the Vancouver A&N project is part of the problem. The size and location of their Vancouver store (that someone here mentioned is being developed with Bosa) most certainly provided mrs cohen with some juicy returns that makes the Edmonton numbers look a bit lackluster in comparison.

In any case, I believe edgar still owns the building on the corner and the land to the south - it'll be interesting to see if they do something with it.
 
Hugh Jazz said:
Indeed, and I'm sure the Vancouver A&N project is part of the problem. The size and location of their Vancouver store (that someone here mentioned is being developed with Bosa) most certainly provided mrs cohen with some juicy returns that makes the Edmonton numbers look a bit lackluster in comparison.

In any case, I believe edgar still owns the building on the corner and the land to the south - it'll be interesting to see if they do something with it.
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Yes, I agree that may be part of the issue too. However, it may also be they are wanting to try the first project closer to home and focus on that.

If they decide they don't want to go ahead with this for a while, I hope they at least fill the retail space. It is still a good space in a good location.
 
David A said:
Yes, I agree that may be part of the issue too. However, it may also be they are wanting to try the first project closer to home and focus on that.

If they decide they don't want to go ahead with this for a while, I hope they at least fill the retail space. It is still a good space in a good location.
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"They" are not developing anything. They are selling their land. Vancouver doesn't really have anything to do with their Edmonton site.
 
cmd uw said:
"They" are not developing anything. They are selling their land. Vancouver doesn't really have anything to do with their Edmonton site.
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I don't think the Cohen family sold a 100% interest in the lands to Bosa. I believe they are retaining a certain percentage of ownership between the two companies/families.
 
Oilers99 said:
I don't think the Cohen family sold a 100% interest in the lands to Bosa. I believe they are retaining a certain percentage of ownership between the two companies/families.
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They.Are.Not.Developing.It. Having an interest doesn't mean you're in control or have anything to do with advancing/managing the development program.
 
cmd uw said:
"They" are not developing anything. They are selling their land. Vancouver doesn't really have anything to do with their Edmonton site.
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It was the Vancouver Sun that referred to developing, but if you know better I wont argue with that. It may be fair say from reading the article they are not taking the lead role in developing this site, but still have a somewhat active role. However, it seems to me we might be getting hung up on semantics here. Whatever this arrangement is, Army and Navy owners are an ongoing part of it and have a stake in it. So, they may want to focus on the successful completion of this project before actively pursuing others.

It seems to me if you have a more lucrative opportunity, if you are smart you focus on it first, so in that regard I think it does have something to do with the Edmonton site. I also suspect this family that has been in business for around a century operates on a slightly different time line than some. They are probably not intending to clear out their valuable property porfolio like last years socks on sale in a bin after Christmas.
 
David A said:
It was the Vancouver Sun that referred to developing, but if you know better I wont argue with that. It may be fair say from reading the article they are not taking the lead role in developing this site, but still have a somewhat active role. However, it seems to me we might be getting hung up on semantics here. Whatever this arrangement is, Army and Navy owners are an ongoing part of it and have a stake in it. So, they may want to focus on the successful completion of this project before actively pursuing others.

It seems to me if you have a more lucrative opportunity, if you are smart you focus on it first, so in that regard I think it does have something to do with the Edmonton site. I also suspect this family that has been in business for around a century operates on a slightly different time line than some. They are probably not intending to clear out their valuable property porfolio like last years socks on sale in a bin after Christmas.
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News don't always cover detail depending on how good a journalist is. lately, corporates seem to dictate what realms they can write...
 
Casey McClellandCasey McClelland
• 1st
Senior Vice President at Marcus & Millichap
2m

Marcus & Millichap is pleased to announce that we have listed the Iconic Army & Navy Site on Whyte Avenue, Edmonton, AB for sale!

The Site Consists of two parcels. 1) Vacant Building Consisting of 24,712 SF (13,480 SF main floor, 14,574 SF basement) on 14,574 SF of Land & 2) 13,830 SF paved parking lot with existing revenue.Parcels can be purchased individually or together.

Great opportunity for an owner/user or a developer. Potential opportunity to acquire neighboring properties for larger land assembly.

Please don’t hesitate to reach out for more information on this unique opportunity.

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