A single-storey retail building at 851-855 West Broadway has sold to a local private investor for $4,700,000, or approx. $800 per SF. The 5,800 SF building contains three retail units and over 5,000 SF of basement space.

The building was recently renovated and tenants include Cafe Artigiano and Uniform Central. A third space was being marketed for lease at $35.00 per SF net.

Sears Canada is closing its flagship location in Toronto’s Eaton Centre, as well as four other stores including Richmond Centre, in a move that will affect almost 1,000 employees.

The retailer says it’s selling the leases on five department stores, in a $400 million deal that amounts to the largest sale of leases since Sears (TSX:SCC) began shedding assets and cutting jobs in an effort to turn around its struggling operations.

The sale is especially notable because the Eaton Centre is one of the company’s most visible Canadian stores, located in a central tourist area.

About 965 employees across the company’s operations will affected by the move. Sears Canada says employees who are laid off from closing stores can apply for other jobs within the company.

Here is a list of rezoning applications headed for Burnaby City Council’s consideration on Monday:

Phase 1 of Brentwood Town Centre Project

The first phase of the Brentwood Town Centre redevelopment by Shape Properties is seeking to move forward to first reading and public hearing next month. Phase 1 includes development of a new externally oriented commercial shopping centre, public plaza and high street within the 8-acre southwest quadrant. It includes:

• 546,820 SF of new commercial space in 2-4 storey buildings
• Density of 1.56 FAR
• Central civic plaza

Phase 2 of Station Square

The second phase of the Station Square redevelopment by Anthem Properties is seeking to move forward to first reading and public hearing next month. The first phase is now substantially sold out and under construction. Phase 2 includes development the next two towers atop a low-rise retail and office podium on the Eastern portion of the site. It includes:

• two towers – one 38-storeys and one 48-storeys
• 768 total units
• a total density of 5.34 FAR
• 97,343 SF of new commercial space

Canada Way and Claude Avenue

The owners of this 4.6 acre site have filed a rezoning application for a 132 unit stacked-townhouse development with underground parking to a total density of 0.9 FAR.