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, Office

Industrial/Office Building Planned for Yukon & 7th Site

A development application has been submitted to the City of Vancouver for permission to develop a new industrial/office building at 2250 Yukon Street, at the Northeast corner of Yukon and 7th in the Mount Pleasant area of Vancouver. The building will be a custom build office for Fast + Epp Engineers.

The plan calls for a 4-storey mixed-use commercial/industrial building containing:

    • Wholesale Class B on the ground floor and partial second floor;
    • General Office use on the second floor to fourth floors;
    • a total density of 3.00 FSR (15,958 SF)
    • an overall building height of approximately 60 feet; and
    • one level of underground parking providing 10 spaces and one at grade parking space, having vehicular access from the lane.

2025 Yukon_42025 Yukon2025 Yukon_3 2025 Yukon_2 2025 Yukon_1

Under the site’s existing I-1 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The application describes the design rationale: “The building shell will be constructed making maximum use of sustainable prefabrication technology that Fast+Epp has been developing over the past 25 years. The floor and roof structure will consist of prefabricated hybrid timber-steel panels with fully integrated mechanical and electrical systems. The ceiling structure of the single level parkade will consist of precast hollow core panels. The firewall at the east side will consist of pre-cast concrete panels. We anticipate the entire building shell above the parking walls will be constructed within a 4-week period, thereby minimizing neighbourhood noise and minimal traffic disruption from concrete trucks.”

The site was acquired in December 2016 for $3,800,000 or $238 per buildable SF based on the application. It has been occupied by an auto-repair shop “Wilf’s Transmissions” since it was built in the mid-90’s.

The development planner for the project is Schmidt & Associates Development Planning Ltd. 

August 22, 2017by 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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