Mercury Court, a three-storey office building with ground floor retail in the trendy ByWard Market of Ottawa, has been sold to a private investor through Primecorp Commercial Realty Inc. for $22 million.

Second Cup, Chez Cora, Gabriel Pizza and Lone Star anchor the 51,459 square foot mixed-use landmark, which was originally built in 1923 as Larocque’s Department Store.

“Seldom do properties such as this trade in any Canadian market; the opportunity to acquire such an asset is a once in a lifetime opportunity,” says Aik Aliferis, chief executive officer of Primecorp. “Typically private investors will keep this type of property in the family for generations.”

From 1989 to 1993, architectural firm Barry Padolsky Associates, renovated the building to include features like the Mercury weathervane, which adorned the Sun Life Building at Bank and Sparks Streets until 1949. Mercury Court now houses the firm.

Nick Pantieras, president of Primecorp, says the architectural character in combination with the location, make the building “a focal point of one of Canada’s most dynamic historic districts.”