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

Pearson Concept Ready For Its Closeup

The fourth and final draft concept for potential redevelopment of the Pearson Dogwood Lands, located at 59th Avenue between Heather and Cambie streets, will be unveiled at open houses Sept. 12 and 14.

 

Pearson
Vancouver Coastal Health owns the 25-acre site. It envisions a mixed-use development, which will include health care housing and related services, housing, community amenities and park space. Building heights could range from three to 28 storeys. Towers would be clustered along Cambie Street and the northeastern portion of the site. The concept also includes a new transit station at West 57th and Cambie on the Canada Line.

 

The City of Vancouver is working on a planning program with VCH, which will produce a policy statement that will guide redevelopment. City staff expect to bring the policy statement to council for approval in December or early next year. If council approves it, VCH can file a rezoning application.

 

Initial open houses were held last January, followed by another set in June when three redevelopment options were presented. The best ideas were consolidated into the fourth concept being released at this week’s open houses, explained Brad Foster, the real estate consultant for VCH who’s working on the project.

 

See more at: http://www.vancourier.com/news/developing-story-pearson-concept-ready-for-its-closeup-1.619217
September 11, 2013by david.taylor@colliers.com
Apartment, Investment

1952 Comox Street, Sold

1952 Comox Street, a building known as “The Breakers” has sold to Hollyburn Properties for $16,350,000. The 10-storey, 61 unit building was built 1964.

1962 Comox

September 10, 2013by david.taylor@colliers.com
Development

For Sale: 7810-7830 Granville Street

7810-7830 Granville_Brochure

September 6, 2013by david.taylor@colliers.com
Retail

Retailer Simons Crashes Canada, One Door at a Time

La Maison Simons Inc. had been nestled in Quebec City for 159 years before fifth generation leader Peter Simons successfully expanded the retailer across the province.

But opening stores all the way to Vancouver is proving trickier for the president of the family-controlled business.

Simons is searching for prime locations in Toronto, Calgary, and Vancouver as a new wave of foreign chains chases the most attractive retail spaces. And the privately held company can’t tap into the markets to finance its heavy investments amid rising borrowing costs.

The retail institution well known in Quebec for its unique mix of cheap-chic private labels and pricier designer lines must make a name for itself west of the Ottawa River. Outside its home province, it operates only one store, at the West Edmonton Mall.

Read more: http://www.theglobeandmail.com/report-on-business/simons-crashes-canada-one-door-at-a-time/article14148615/

September 6, 2013by david.taylor@colliers.com
Market Research

Market Spotlight: August Residential Stats

The Real Estate Board of Greater Vancouver have released August residential stats. Sales activity is up significantly over August 2012, while attendant price increases are modest at best. Here are a few highlights:

  • Listings were down 8.8% from August 2012
  • Sales were up 52.5% in August 2013 compared to August 2012.
  • Single family benchmark pricing is up since January 2013 in almost all submarkets (except for secondary submarkets such as Sunshine Coast, Squamish and Bowen Island)
  • Average prices are still down since August 2012 – for single family (-2.0%) and condos (-1.1%)

REBGVAug2013

Source: REBGV stats

September 4, 2013by 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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