2245 West Broadway has been sold. This is a 30-year old, 4-storey concrete office building on West Broadway between Vine and Yew. 50 ft of frontage. Fully leased, mainly to medical tenants.  The 11,600 SF building sold for $4,650,000 (after asking $4,950,000), representing $400/SF and a 3.8% cap rate.

City closes Onni deal with $1M land sale.

The long and, at times, rough public process for the Onni Safeway site development has come to a definitive end. The Onni towers got their fourth and final reading from council before just a handful of council watchers in the City of North Vancouver gallery Monday night, a stark contrast to the overflow crowds that came out to the two public hearings held in March and November last year.

Onni has been on track for approval since a second pubic hearing was held in March for the 344 units of housing in 24-storey and 18 storey towers, along with an eight-storey office tower and 40,000 square feet of commercial space. Council narrowly voted in favour of the development at the end of the hearing.

In keeping with the contentious public process that dogged the project, the final approval came with one last political provocation at the council table.