I am pleased to announce the off-market sale of Main Gate, a 5-storey boutique office building steps from Granville Island. The property at 1505 West 2nd Avenue was acquired by Commonwealth Management Ltd.
The building is one of the more distinctive office assets on Vancouver’s Westside — a 45,000 SF concrete structure built in 1990 on a 20,000 SF freehold waterfront lot along the Seawall. The building is anchored by the Pacific Institute of Culinary Arts and its Blue Hat Café at grade, with upper floors of office space arranged around a bright central atrium. The property includes 82 secured underground parking stalls and sweeping views over Granville Island, False Creek, and the city.
The transaction was completed off-market and structured as a share sale. This marks only the fifth office building purchased by an investor in Metro Vancouver in 2025, reflecting continued caution among buyers toward the asset class. For well-located, physically distinctive office assets with a clear value-add story, buyer appetite does exist — the challenge is finding assets that meet the bar.
DETAILS:
- Sale structure: Share sale (price not disclosed)
- Building size: 45,000 SF
- Lot size: 20,000 SF
- Asset type: Office
- Year built: 1990
- Parking: 82 secured underground stalls
The sale was brokered by David Taylor of Colliers International.
Own an office building in Metro Vancouver? I can provide a confidential opinion of current market value. — David Taylor, Colliers · 604-761-7044
David Taylor, Colliers — Active Listings & Recent Sales
View all →
