Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
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Market Research, Retail

Breathing Life into New Westminster’s Main Streets

New Westminster News Leader – Breathing life into New Westminster’s main streets.

Lots of places to eat and drink, few storefronts that aren’t retail oriented, and at least some representation of chain outlets are all signs of successful main streets, according to a university term paper written by a New Westminster councillor.

Along with sitting on council, Jonathan Coté is also an urban studies student at Simon Fraser University, and has written the paper “Reviving New Westminster’s Main Streets,” which looks at what makes a main street work and what New West’s streets need in order to improve.

“New Westminster has a tremendous advantage in that we have traditional main streets already in existence. For most municipalities in the Lower Mainland these don’t exist except in Vancouver. We have the bones in place. The challenge is how do we bring these to life and make sure these are neighbourhoods our residents want to shop in.”

Coté found the highest vacancy rates were on Twelfth Street (11.6 per cent) and East Columbia in Sapperton (11.4), while Columbia in the Downtown area was just 6.4 per cent and Sixth Street was 8.7. The latter two compared favourably to a pair of Vancouver’s most dynamic retail streets, Robson (6.9) and Denman (5.4).

Read more: http://www.newwestnewsleader.com/news/186342442.html

January 11, 2013by david.taylor@colliers.com

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David Taylor Personal Real Estate Corporation

Colliers International

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David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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