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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Development

Four More Towers Coming to Brentwood

Four more towers are being proposed for the Brentwood Town Centre area of Burnaby in two separate rezoning applications that went to Burnaby City Council this week for first reading. They are:

2242 Alpha Avenue

2242 AlphaThis project is being built by Monark Group, who bought the site in February 2015 for $6,750,000. The plan for the 41,574 SF, M2 zoned site is for a high-rise residential tower atop a 4-storey above-grade parking podium and some underground parking. The above-ground parking is required due to groundwater conditions in the area. The anticipated density is 3.6 FAR under the RM4s designation.

2425 Beta Avenue

2425 Beta AvenueThis site is located on the West side of Beta Avenue between Dawson Street and the BNSF rail line, and is being developed by Thind Properties, who acquired it in 2013 for $31,500,000. The plan for the 201,247 SF, M2 zoned site includes three highrise residential towers atop a 4-storey parking podium. It is similarly seeking a 3.6 FAR density designation under the RM4s guidelines. The plan includes a 30 metre dedication to extend Alaska Street.

September 29, 2015by 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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