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Honest Ed’s discount store up for sale

File photo of Honest Ed's in Toronto in 2009. CITYNEWS/Michael Talbot

Toronto landmark Honest Ed’s is up for sale.

The bargain basement discount store — known for its loud, glaring signs —as well as the surrounding land at the corner of Bloor and Bathurst streets is on the market for a reported $100 million, the National Post first reported on Tuesday, citing sources.

Commercial real estate firm Colliers International is believed to be the listing agent. But the realtor declined to comment and the Mirvish family wasn’t immediately available.

Honest Ed’s general manager Russell Lazar told CityNews on Tuesday that the property is for sale. But he stressed nothing’s been signed and that he believed the store would stick around.

“I have no doubt that we’re going to see Honest Ed’s operating for years to come,” he said.

He also said the discount store will be holding its 65th anniversary party on Sunday, and that Mirvish, who is in New York, will be on hand to give away theatre tickets.

Last October, Mirvish unveiled plans for a Frank Gehry-designed art and condo complex at the site of the Princess of Wales Theatre on King Street West in downtown.

Honest Ed’s first opened in 1948 by David’s father, Ed Mirvish, after he cashed in his wife’s insurance policy.

He later expanded and diversified his empire to include real estate and Mirvish Productions, now run by David.

Ed Mirvish died at the age of 92 in July 2007.