CORNWALL – Loblaw is abandoning plans to build a new distribution center in the Cornwall Business Park.
In a municipal bylaw to be passed by city council Monday night, the corporation plans to buy back the property from Boundary Properties Limited for just over $2.1 million.
The property is 121 acres on Industrial Park Road and Tenth Street East.
According to the bylaw, the grocery retailer told the city in a letter June 22, 2016 it was no longer planning to construct the distribution center, given its purchase of Shoppers Drug Mart.
The Loblaw purchase included the Shoppers Drug Mart distribution center, which is already operating in Cornwall.
Once the deal is done, the land would likely go back on the market.
Fully serviced land in the business park is being sold for $30,000 per acre.