A 1.9 acre site in the City Centre area of Surrey has sold for $26,888,000. The site, improved with an older strip commercial centre known as Whalley Station Square, sold to Tien Sher Developments.
The site is located 2 minutes from Gateway Skytrain Station and is designated for residential and mixed-use in the Surrey City Centre Town Centre Plan. The maximum density is 4.2 FSR inclusive of a 0.7 FSR bonus.
The price equates to $78 per buildable SF based upon the max potential density.
Investors Group has sold Trenant Park Square, a 138,716 square foot,
open format, grocery and drugstore anchored retail centre located in the Ladner area of Delta, B.C. to Keltic Canada, for $64,500,000, or a 4.8% cap rate. The property was built in 1989 and sits on a 9.7 acre site with future development upside.
The property was listed and sold by Jones Lang Lasalle. It is anchored by FreshCo. and London Drugs; other tenants include RBC, Dollarama, Starbucks, Cobs Bread, Subway and Kin’s Farm Market.