Cobb’s Block Central expected to open soon
Sylvan Lake’s first enclosed shopping mall should soon be welcoming occupants.
Renovations to the former Cobb’s AG Foods building at 5015 50th St. are progressing well, said Jim Jardine, whose firm Trilliant Real Estate Group is the leasing and selling agent for the property.
“They’ve just finished getting the roof done, and we need to get the parking lot cleaned up a bit, and then we’re ready to go.
“We’re probably a couple of weeks before we can start signing offers, because I’m still waiting on the final leases and condo documents.”
River City Developments Ltd. bought the building last year after Cobb’s AG Foods closed. The structure, which has been renamed Cobb’s Block Central, has since been gutted and redeveloped, including the addition of a new exterior facade.
There is now approximately 26,000 square feet of usable space over two levels, with a circular staircase connecting the two. The 14 bays inside range in size from about 800 to 4,730 square feet.
Because the building has been condominiumized, space can be purchased or leased, said Jardine.
“We’ve had good interest,” he said. “I’ve had about a half a dozen people express interest with me personally, and then I’ve had a couple of realtors call with questions.”
Jardine said retail and office uses have been proposed for the building.
A 2,555-square-foot area on the west side has been earmarked for a restaurant with a patio.
“We’ve had a couple people take a look at it,” said Jardine.
Another 3,630-square-foot bay is already occupied by Cobb’s Clothing, which continued to operate in the building after Cobb’s AG Foods closed.
Jardine said Cobb’s Block Central’s lease rates, which start at about $8 a square foot, are among the cheapest in town. And he’s optimistic about the outlook for Sylvan Lake’s downtown.
Despite losing a number of businesses in recent years, the area is attracting new ones, noted Jardine. And town officials are aggressively recruiting more, with a formal retail and service opportunity profile prepared for this purpose.
Jardine said Sylvan Lake has one big advantage over its municipal counterparts when it comes to preserving a vibrant downtown — the district’s proximity to a popular lake. He added that the town has also grown to the point that consumers throughout the area now go to Sylvan Lake to shop, including at its downtown.
“We’re becoming more of a regional shopping centre.”