Honest Ed's site has been sold
We had heard that David Mirvish was shopping around, but a deal has reportedly been made.
Honest Ed's, the Toronto discount retail landmark that's been around for over 70 years, has been sold according to published reports.
Mirvish confirmed to the Star on Sunday that a deal with Vancouver-based luxury developer, Westbank Properties, will close by the end of the year.
The developer still doesn't have any plans for the site at Bloor and Bathurst Streets.
Instead, the company will rent the site back to Mirvish for the next two or three years until concrete plans are made.
Mirvish has not said how much the deal is worth, but in July the reported asking price was around $100-million.