Nanaimo News Bulletin, August 02, 2012

Page 1

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VOL. 24, NO. 41

P: 250.585.1648 3392 Norwell Drive

A&B Sound closed its Nanaimo location with little warning on July 23, 2008, just a few months before the entire retail chain collapsed. The store’s home, the big purple building on prime downtown real estate, continues to sit empty and garner little interest for redevelopment. TOBY GORMAN THE NEWS BULLETIN

I’ve had the question a million times, ‘why isn’t it moving?’ It’s been a long time since there’s been any interest.

Four years after A&B Sound closed, purple eyesore still empty on prime downtown property

‘Barney Building’ sitting idle BY TOBY GORMAN THE NEWS BULLETIN

Four years after closing its doors as Nanaimo’s A&B Sound electronics retailer, the downtown purple eyesore commonly referred to as the ‘Barney Building’ continues to fall into disrepair with little interest from potential buyers. The large, windowless build-

ing is located on prime real estate at Commercial Street and Terminal Avenue, downtown Nanaimo’s busiest intersection. A&B Sound closed the location with little warning on July 23, 2008, just a few months before the entire retail chain collapsed. At its peak, A&B Sound had 21 locations in western Canada. Nanaimo’s location opened in 1990.

“I’ve had the question a million times, ‘why isn’t it moving?’” said Brad Bailey, an agent for Colliers International, which has the listing. “The condition of the building at the moment isn’t great so it makes for a very difficult repair or upgrade. It would take a tremendous amount of money and it might even make more sense for it to be a build-to-suit because reha-

bilitating that building ... may not be cost-effective.” It is currently listed for lease, not for sale. Bailey added the slow economic recovery has also hindered interest in the location, which lists 17,725 available square feet. “It’s been a long time since there’s been any interest,” he said. ◆ See ‘BUILDING’ /4


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