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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Development

Oakridge United Church Site Slated for Redevelopment

Townline Homes has filed an application to rezone the Oakridge United Church property located at 305 West 41st Avenue from RS-1 to CD-1. The preliminary plan for the 18,960 SF site two blocks East of Cambie is for a new 6-storey residential building that includes new church space for Oakridge United:

    • 58 residential units;
    • a replacement church space;
    • a building height of 68 ft. ;
    • a density of 3.33 FSR (0.32 FSR for church, 3.21 for residential)
    • 74 underground parking spaces and 73 bicycle parking spaces.

This application is being considered under the Cambie Corridor Plan. The architect for the project is Patrick Cotter of ZGF Cotter Architects Inc.

305 West 41st Ave 305 West 41st_1 305 West 41st_2

October 7, 2015by david.taylor@colliers.com
Development

Former Gas Station Site on Westside Sells in $18MM Deal

A former Esso gas station site at the Southeast corner of West 10th Ave and Alma has been sold by Imperial Oil to Landa Global Properties for $18,118,000. The 23,201 SF, C-2 zoned site had been vacant for several years as part of remediation, and was listed for sale by tender process by Cushman Wakefield.

The price represents $311 per buildable SF based on the development potential under the existing C-2 zoning for 2.5 FSR.

3690 West 10th Avenue

October 6, 2015by david.taylor@colliers.com
Apartment, Development, Retail

Redevelopment of Mt. Pleasant Dealership Includes Apartments

A rezoning application has been filed for a 46,563 SF site at 445 Kingsway in the Mount Pleasant area which would allow rezoning from the existing C-2 zoning to allow a 6-storey mixed-use building that includes:

    • 109 secured market rental apartment units;
    • Commercial use (car dealership) at grade;
    • A density of 3.69 FSR;
    • A building height of 75.5 ft.; and
    • 90 residential parking stalls, 209 dealership parking stalls, 4 loading spaces and 156 bike parking spaces.

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

The site is currently improved with Desination Hyundai, a single-storey auto dealership. The renderings appear to show that Destination Honda will be the new tenant. The architect for this proposal is FNDA Architecture.

445 Kingsway445 Kingsway_3 445 Kingsway_1

October 5, 2015by david.taylor@colliers.com
Development, Office

Seaspan Planning North Shore Office Building

Seaspan is seeking development permit approval to construct an office building to provide the necessary office facilities for their ship building operations at the foot of Pemberton Avenue in North Vancouver.

The new central facility will house the office component of its ship building and marine service operations. The location on the site offers both overview of the shipyards, and easy access for staff moving back and forth between on-site facilities. The proposal includes:

  •  a new 4-storey building with offices, meeting rooms, change rooms, and a canteen for the Seaspan staff
  • Total floor area of 84,000 SF
  • 122 parking spaces on an adjacent lot

In 2011, Seaspan was awarded a contract to build 17 non-combat ships on the adjacent site.

Seaspan_1Seaspan Seaspan_2

October 5, 2015by david.taylor@colliers.com
Development

Latest Cambie Corridor Proposal Features 56-Units

Mosaic Homes has applied to rezone a 34,720 SF site at the corner of West King Edward and Yukon Street; one block East of Cambie. The plan for 288-388 West King Edward calls for two 4-storey residential buildings with 2-storey townhouses and an amenity building at the lane. The proposal includes:

  • 56 residential units;
  • a building height of 50 ft.;
  • a density of 1.76 FSR; and
  • 74 underground parking spaces and 76 bicycle parking spaces.

This rezoning application is being considered under the Cambie Corridor Plan, and the architect is Shift Architecture.

288 W King Ed 288 W King Ed_1 288 W King Ed_2

October 5, 2015by david.taylor@colliers.com
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First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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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

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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