The property containing the Mona Lisa Arts Supplies store in Calgary’s Beltline District has been sold.

Ryan Murphy, a JLL Capital Markets vice-president in the firm’s Calgary office, announced the deal in a LinkedIn post. Murphy, who represented the seller in the transaction, said the 11,800-square-foot site’s sale price set a new pricing benchmark in the inner city.

Murphy did not disclose the exact figure. But according to a published report that quoted him, the land assembly was sold for $5.5 million to an unidentified owner-user.

“The property features a well-positioned retail strip and a two-storey retail building in an exceptional location,” wrote Murphy. “With frontage to Tompkins Park and situated immediately north of 17th Avenue S.W., the assembly benefits from its placement in one of Calgary’s most highly desirable urban nodes.”

According to Murphy, the existing improvements offer immediate value-add potential through retail repositioning, and the site resents significant redevelopment opportunities.

Pictured: Interior of Mona Lisa Art Supplies store.

Photo: Wheree