It could be a good space for say BP (oh, but they already have two locations nearby) or say Earls, which unfortunately seems to have become mostly a suburban chain here. I'm not sure if they count as local anymore.
It could be a good spot for one of the eastern Canadian chains we don't have here, if they want to expand westward and make a splash. However, I agree it does seem like a large space for anyone to take on, especially as it may not be that busy outside of lunch time and event nights. Although, its fairly close to the JW Marriott hotel and accessible by the pedway, so it could get some regular late afternoon and early evening traffic.