Schreiter’s Furniture building sold
Posted Aug 3, 2016 07:22:09 AM.
Last Updated Aug 3, 2016 05:20:27 PM.
This article is more than 5 years old.
The Schreiter’s Furniture building in downtown Kitchener has been sold.
The 124-year-old building, that had been home to Schreiter’s for nearly 90 years, has been purchased by a local developer that plans to turn it into a mix of retail and office spaces.
Vanguard Development Corporation is set to close the deal later this month.
Owner Paul Schreiter, who’s been working at their current location at Gaukel and Charles since he graduated high school, says if the deal goes through without a hitch, they’ll have to be in a new building by April 30, 2017.
”We’d like to stay urban, but we’ve been having a difficult time finding the number of square feet that we’re after, which is 16,000 to 20,000 square feet, with parking, in the core,” said Schreiter.
This is the second downtown property Vanguard has acquired. Last month, it bought the former Schlicther’s Automotive Building on Queen Street South, which is expected to be ready for new retail and office tenants by the fall.
