Business
Thomson family sells land where Globe and Mail was considering to call home

QMI AGENCY

The Thomson family's holding company has reportedly inked a deal to sell a high-profile parcel of land in downtown Toronto, on which the Globe and Mail was considering moving its headquarters.

Woodbridge Co. signed the deal last week with three property developers for a parcel of land at Front St. W. and Spadina Ave., Edward Sonshine, the chief executive of one of the developers, RioCan Real Estate Investment Trust, told the Wall Street Journal.

Last November, Woodbridge sold the Globe and Mail's existing head office site to RioCan and its partners, Allied Properties Real Estate Investment Trust and Diamond Corp., for $136 million.

Woodbridge was developing the adjacent parcel of land to build a new office tower, with the Globe and Mail as the main tenant, but decided to sell the land not long after the adjacent parcel sold to RioCan and its partners.

The Globe has yet to decide whether it will take a space in the new building, the Wall Street Journal reported.

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