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

Market Update: Downtown Office Projects

Here is a snapshot of current downtown office buildings at various stages of construction:

Deloitte Summit, 410 West Georgia Street (Westbank)

24-storeys, 355,000 SF

photo credit: mcminsen
photo credit: mcminsen

B6, 1090 West Pender Street (BentallGreenOak)

32-storeys, 534,000 square feet

source: http://b6vancouver.com/live-updates

The Stack, 1133 Melville Street (Oxford Properties)

36 storeys, 540,000 SF

photo credit: mcminsen

Vancouver Centre II, 753 Seymour Street (GWL)

33-storeys, 371,000 SF

photo credit: mcminsen

The Post, 349 West Georgia Street (Quadreal)

22 & 21 storeys, 1.3 Million SF

photo credit: mcminsen
photo credit: mcminsen

601 West Hastings Street (PCI Group)

25 storeys, 285,000 SF

photo credit: mcminsen
photo credit: mcminsen

Bosa Waterfront Centre, 320 Granville Street (Bosa Development)

30-storeys, 355,000 SF

photo credit: mcminsen
photo credit: mcminsen
December 5, 2020by david.taylor@colliers.com
Investment, Office

South Granville Office Building Sells in $28.6 Million Deal

TPMG Capital has acquired 2695 Granville Street, a 7-storey office building located at the Northwest corner of Granville and West 11th Avenue.

The 27,812 SF concrete office building was built in 1965 and sits on a 54 x 120′ C-3A zoned lot.

At the $28,600,000 price equates to $1,028 per SF of building area including ground floor retail.

The building had most recently been listed for sale for $29,900,000 following an initial asking price of $36,000,000 in early 2020.

December 5, 2020by david.taylor@colliers.com
Apartment, Development, Retail

32-Unit Market Rental Building Planned for East Van Site

A rezoning application has been submitted for a site at 2735 E 41st Avenue in East Vancouver. The 14,382 SF C-1 zoned site is currently occupied by an older lowrise commercial building occupied by G&F Financial Group.

The proposal is to allow for the development of a 5-storey mixed use rental building under the Rental 100 policy. The proposal includes:

  • 32 market rental units;
  • 2 studios, 10 one-bedrooms, 14 two-bedrooms & 6 three-bedrooms;
  • 6,129 SF of retail space in 5 CRUs at grade;
  • A total density of 2.48 FSR;
  • A building height of 49 ft.;
  • 25 vehicle parking spaces and 80 bicycle parking spaces.

The application is being considered under the Secured Market Rental (Rental 100) Policy.

The architect for the project is Barnett Dembek Architects Inc.

December 5, 2020by 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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