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Gastown's La Magasin Building Sells For $8,495,000

The Le Magasin building in Gastown has just sold for $8,495,000 to the Salient Group. The 21,000 square foot building is located at 328 Water Street and makes up retail and office space above. These heritage buildings rarely make an appearance on the market and when they do it's kind of a big deal. Will a developer snap up these prime Gastown buildings and kick out existing tenants to make way for another trendy establishment? By the looks of things, there's a "big, big, big sale" happening on CDs so here's hoping for some updated retail on the coveted Water Street.