8010 Saba Road in Richmond has sold for $24,250,000. The property is improved with a 33,456 SF retail and office building whose main tenants include HSBC and National Bank Financial. The purchase price equates to a 4.4% cap rate, or $722 per SF. The building was sold by bid process in June with no asking price.

Here is a video overview of the property by the listing agent, Cushman Wakefield:

8010 Saba Road, Richmond BC from Cushman & Wakefield | Vancouver on Vimeo.

Ledingham McAllister is moving forward with a rezoning application to develop a 59,244 SF site at 5415 Lougheed Highway in the Brentwood area of Burnaby with a four-storey apartment building with three-storey townhouses fronting Broadway and Lougheed Highway. Plans include:

• 101 condo units
• a total density of 1.50 FAR
• 32 one-bedroom units and 69 two-bedroom units
• 123 underground parking spaces
• $3,022,760 CAC ($130 per buildable SF x 0.4 FAR town centre bonus)

A new light industrial/office building is being planned for a mid-block site on Railway Street, in an area East of Main Street along the CN Rail tracks. The plan for the 132′ x 53′ (6,584 SF), M-2 zoned site is for a 6-storey building including:

• retail on the ground floor, manufacturing on floors 2, 4 & 5, wholesaling on the third floor and office space on the 6th floor
• a total density of 5.0 FSR
• a building height of 100 ft.
• 3 levels of underground parking
• no building setbacks

Considered Design Inc., the landscape architect for the project, has some renderings on their website, including the one below.