Leiad adds to Winnipeg portfolio with acquisition of Johnston Terminal – Winnipeg Free Press

A Montreal developer has acquired a second landmark in downtown Winnipeg: Johnston Terminal.

Leiad announced the purchase of the historic Forks-area building Friday afternoon. The company purchased the four-story space from Artis Real Estate Investment Trust.

Leiad CEO Henry Zavriev would not share the price of the deal. There is “no change in the works” for the site, he added.

The Old Spaghetti Factory, Kite and Kaboodle, AWS Thinkbox and Harrisons Coffee are among the tenants in the former storage railway depot. Johnston Terminal was built in the late 1920s and later renovated for commercial use.

“It's a gem and I hope it stays that way,” Zavriev said Friday.

Larissa Peck, spokeswoman for The Forks North Portage Partnership, said in a statement that The Forks look forward to working with Leiad to “support our neighboring businesses at Johnston Terminal.”

Artis REIT did not immediately respond to questions. It has been selling its assets for several years.