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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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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Condo, Development, Office, Retail

Tallest Tower at Brewery District to Include 225 Condo Units & Office Space

Wesgroup has submitted a development application for Building 7 at their Brewery District master planned community. The overall master plan for the Brewery District was approved almost ten years ago and has been under development in phases since initial development permits were granted in 2010. The site is bounded by the Royal Columbian Hospital, the Braid Industrial Area and the Sapperton residential neighbourhood.

Building 7 is located at 268 Nelson’s Court, at the north west end of the Brewery District site. To the north of the site is the future Transit Plaza and 200 Keary Street which contains a nine storey mixed use building (Anvil) with commercial at grade and market strata residential. To the south of the site is 258 Nelson’s Court which will contain a 26-storey market strata residential building.

The proposal for Building 7 is a 32-storey tower, the tallest in the overall project, that includes:

  • 225 condo units;
    • 24 studios, 98 one-bedrooms, 71 two-bedrooms & 32 three-bedrooms;
  • 53,000 SF of office space (on levels 2-4);
  • 9,5000 SF of daycare space;
  • 4,600 SF of retail space;
  • A total density of 5.25 FSR;
  • A total building height of 320 ft;
  • 414 underground parking spaces.

The architect for the project is Chris Dikeakos Architects.

October 1, 2018by david.taylor@colliers.com
Development

SOLD: 2001-2021 West 41st Avenue

We are extremely pleased to announce the sale of 2001-2021 West 41st Avenue, Vancouver, B.C. This prime piece of Kerrisdale land was sold after our team generated multiple offers in June 2018. 

October 1, 2018by david.taylor@colliers.com
Condo, Development, Retail

FOR SALE: East Vancouver C-2 Zoned Development Site

We are pleased to introduce this 27,427 SF land assembly at the corner of East 10th Avenue and Nanaimo Street in East Vancouver. The site is zoned C-2 which allows for development of over 68,000 SF of residential above retail space.

Please contact us for further details.

A full brochure can be downloaded here: Brochure – Nanaimo Street

October 1, 2018by david.taylor@colliers.com
Condo, Development, Retail

Richmond Centre Redevelopment Will Include 2,000 Units & 130,000 SF of New Retail Space

Cadillac Fairview has submitted their formal application to initiate the redevelopment of Richmond Centre mall, announced earlier this year and the subject of public open houses this summer. Shape Properties has partnered with Cadillac to develop the residential component of the project.

The redevelopment of the southern portion of the 27 acre site, dubbed “CF Richmond Centre South” includes a two phase redevelopment of a horseshoe-shaped portion
of the south end of the existing mall.

The site does not actually require rezoning as the existing zoning allows for highrise residential towers; however, an OCP amendment is required to secure community benefits prior to DP issuance.

Details of the proposed new development include:

  • Approximately 2,000 residential units;
    • 1,850 market units & 150 affordable housing units;
  • 50% studio/1-bed units, 50% two & three bedroom units;
  • 419,114 SF of new commercial space (net increase of 129,513 SF after demolition)
  • A total of 2,500,000 SF;
  • A total density of 2.1 FAR (including remaining portion of existing mall);
  • Demolition of 290,000 SF of the existing mall and the multi-storey parkade;
  • Twelve towers up to a maximum height of 148 feet;
  • 4,000 off-street parking spaces on two-levels;
  • 43,056 SF of indoor amenity space;
  • A new City-owned street on the South edge of the property;
  • A new 0.5 acre public plaza.

The development will be constructed in two phases with completion scheduled for 2026, as follows:

  • 2018 – Sales centre construction and demolition of the former automotive shop (near the former Sears building)
  • 2019 – Opening of the sales centre and the start of Phase 1, including demolition (i.e. west half of the existing multi-storey parkade and a portion of the mall), excavation, and site preparation followed near year-end by the start of construction
  • 2021-2022 – Building-by-building completion and occupancy of Phase 1, beginning with the proposed underground parking and new retail space connected to the existing mall
  • 2022-2025 – Phase 2 demolition (including the former Sears building, the east half of the multi-storey parkade, and a portion of the mall), excavation, site preparation, construction, and occupancy

The architect for the project is GBL Architects.

September 17, 2018by david.taylor@colliers.com
Condo

116 Units Planned for Burquitlam Lowrise Site

Woodbridge Properties has submitted rezoning and development permit applications to the City of Coquitlam to allow the development of a 6-lot land assembly at the Southwest corner of Como Lake Avenue and Dogwood Street in the Burquitlam area.

The 1.07 acre site is located in  in the Burquitlam Lougheed Neighbourhood Plan (BLNP) area and is 410 meters from Burquitlam Skytrain Station. The OCP allows rezoning from the existing RT-1 Two-Family Residential to RM-3 Multi-Storey Medium
Density Apartment Residential.

The proposed development envisions two 6-storey condo buildings connected by a common amenity space that include:

  • 116 condo units;
  • 28 one-bedrooms, 84 two-bedrooms & 4 three-bedrooms;
  • a total density of 2.30 FAR;
  • 6,626 SF indoor and outdoor amenity space;
  • 170 underground parking spaces.

The architect for the project is Ciccozzi Architecture.

September 12, 2018by david.taylor@colliers.com
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First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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David Taylor Personal Real Estate Corporation

Colliers International

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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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