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

Construction Update: 745 Thurlow

June 25, 2014by david.taylor@colliers.com
Development

Master Plan for Chunk of Queensborough

A master plan for a chunk of Queensborough next to Port Royal is in the works.

The plan began when Platform Properties developer Kyle Shury noticed the New Westminster school district put a triangular piece of land at Stanley and Duncan streets up for sale. He bid on it and got it. Then he went to city hall and they’ve agreed to sell Platform 19 properties it owns nearby. That will give Platform just under 10 acres in total. The city then created a special study area of 21 acres to develop a master plan for the land, with the company taking the lead.

27984newwestBE0625-QBoro1

“Between the two of those (Platform’s property and the city properties) we saw an opportunity to create a significant [community],” said Shury.

The area is bounded by Ewen Avenue, Stanley Street, Duncan Street and Furness Street. Most of the land is currently zoned light industrial. Platform wants to turn it into a planned residential, commercial and retail mix.

Shury had previously been part of putting together the Queensborough Landing shopping complex.

So he knew the community’s potential and liked a lot of the changes that have taken place, especially Port Royal. “They’re starting to see the benefits of all their hard work,” said Shury.

Read more: http://www.newwestnewsleader.com/news/264317391.html

June 24, 2014by david.taylor@colliers.com
Development

MARKET UPDATE: Brentwood ONE Sells Out in a Day

Tower One of Shape Properties’ new Brentwood project in Burnaby, comprising 287 units in the top half of a 53-storey tower, sold out in a matter of a couple of hours on Saturday…

The Amazing SOLD OUT board at The Amazing Brentwood! Come down to the site to get on the list for… http://t.co/TULimzNggx

— Rennie Realty (@TanzolaReggie) June 22, 2014

People actually camped out for as long as three nights just to get a chance to buy one…

Just when you think stories like this are a thing of the past; Rennie does it again!

June 22, 2014by david.taylor@colliers.com
Development

Construction Update: MNP Tower

2Taken June 20th.

June 20, 2014by david.taylor@colliers.com
Office

Triple-A Headache Remedies for B Buildings are Available, says Colliers

By Paul Brent

Owners of class B office buildings in major markets such as Toronto and Vancouver are facing an epic challenge. Millions of square feet of AAA class office space now under construction is pushing older commercial properties down a notch, or two in terms of desirability.

So what’s a B landlord to do besides sell?

Colliers International outlines three different strategies for B owners, which it describes as specialization, capital injection and repurpose with illustrative case studies for each.

“Those are the three that we found when we were doing our research that are proven to be the most popular and realistic for a landlord to consider,” said Curtis Scott, a market intelligence analyst with Colliers in Vancouver.

Colliers classifies A and AAA buildings are those located within a city’s central business district, with proximity to mass transit, amenities like ground floor retail and community space. B and C class office, on the other hand, is characterized by its less strategic locations, limited transit and amenities and less attractive office space.

Specialization An Option

One emerging strategy for landlords with less desirable office space would be to specialize in a specific tenant type or industry. An example Colliers raises is that of a landlord who …read more

Source: RENX

June 20, 2014by 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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