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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Retail

Best Buy to Close Two Metro Vancouver Stores

As reported in the Financial Post today, Best Buy Canada will be closing 15 stores nationwide, following the lead of it’s counterparts in the US in an effort to reduce costs and focus on outlets with a smaller footprint.

Best Buy…”, which is closing stores in the British Columbia, Quebec, Manitoba, Alberta and Ontario markets, will open a substantial, but unspecified number of its smaller Future Shop web stores and new Best Buy Mobile locations over the next three years across the country.”

The two Metro Vancouver locations affected are as follows:

  • Queensborough Landing in New Westminster
  • Morgan Crossing in South Surrey
January 31, 2013by david.taylor@colliers.com
Development

District Tries, Again, to Sell Steveston Site

UPDATE: District tries, again, to sell Steveston site.

The Richmond school district is hoping a poor economy and a desperate need for a city centre school will entice the Ministry of Education to finally approve the sale of the former Steveston secondary land to a non-government or profit entity.

The Richmond Board of Education has okayed district staff’s bid to once again approach the ministry about selling the site in order to use that money to build a new school in the fast-growing city centre.

12.58 acre Steveston Secondary Site

12.58 acre Steveston Secondary Site

The property was put up for sale in 2007 with the caveat the buyer had to be a government or nonprofit organizations. However, after a deal with the city (the only entity to make an offer) fell through, the district opened the sale to the highest bidder later that year.

Read more: http://www.richmond-news.com/life/Serving+across+religious+nets/7558654/story.html#ixzz2JZCoHpqN
January 31, 2013by david.taylor@colliers.com

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David Taylor Personal Real Estate Corporation

Colliers International

DT

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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