The city is expected to close the sale for the remainder of Block 8 within the Hanlon Creek Business Park this summer.
An agreement of purchase and sale took place on May 18. A city information report states a five per cent deposit was received as per the sale requirements. It says the sale will be conditional until Aug. 24 and is expected to close on Oct. 5 if the conditions are waived.
The purchaser (not yet publicly disclosed) is an existing business that wants to locate within the Hanlon Creek Business Park and is proposing to construct office and lab space for their new head office location on the 4.27 acre property.
Block 8 is divided into four parts. This sale will include parts 2, 3 and 4.
