Tim Hortons confirms interest in move

The nation’s most famous coffee and doughnut chain may be looking to open up shop in downtown Saskatoon.

The owner of a restaurant on the main floor of the Saskatoon Square office building at 410 22nd St. East said this week he’s been bought out by the property’s ownership group so a Tim Hortons can move into the building.

Jian Huang of Octane said his restaurant will close at the end of July.

"I had to make a decision," Huang said about the deal. "It’s time for change for me."

Diane Slopek-Weber, spokesperson for Tim Hortons, told The StarPhoenix in an email the company hopes to open a store in downtown Saskatoon; however, it can’t confirm any specific details about a plan at this time.

While a deal may be in the works, neither the property’s leasing agent — Colliers McClocklin Real Estate Corp. — nor the building’s ownership group, in which SaskTel has 70 per cent interest, would comment on the proposed move.

If the national icon moves into the building, which is up for sale, both the downtown region and Saskatoon Square itself would benefit, said Phill Elenko, managing partner of ICR Commercial Real Estate, which is selling the property.

"I think this type of a facility, a quick in-and-out coffee shop, I think that’s going to be a great amenity for the building," he said in an interview.

Elenko expects bids for the building — Saskatoon’s largest Class-A office site — to start coming in sometime within the next two to three weeks. The bidding process is expected to close in mid-August.

Saskatoon Square boasts 240,330 square feet of office space and is fully occupied with a mix of local, national and international tenants.

A well-known tenant such as Tim Hortons would work well in the space, Elenko added.

As for Octane, the closure of the restaurant, which has spent the past five years on the main floor of the building facing Fourth Avenue, will put 10 staff members out of work, Huang said.

Meanwhile, the restaurateur will focus his energy on his other business, the Blue Horizon Cafe and Gas Bar at the junction of highways 2 and 16.

Huang said business is picking up at the rural site thanks to growth in Saskatchewan’s mining industry.