Ted Mildon, Matt Saunders and Drew Gilbertson are pleased to announce the sale of 2403 Main Street in Vancouver. The property consists of 8,000 square feet of retail on the main floor and 12 apartment units on the second floor. Colliers represented both purchaser and vendor in this transaction.
For more information on this sale please contact Ted Mildon.
Values for retail properties in East Vancouver have largely been driven by rents in increasingly populated areas such as Main Street, Commercial Drive and East Hastings Street. Properties with strong tenant covenants in East Vancouver should achieve strong valuations with cap rates even below 5.00%.
SFU wants to expand, build in City Centre.
With student demand now greater than ever, Simon Fraser University is looking to double the capacity of its Surrey facility, from 2,500 full-time students to 5,000 – hopefully starting within the next three years.
That’s according to a proposal submitted by SFU to the provincial government earlier this month, looking not only for approval of the plan but funding for the project as well.
“SFU is the only research university that is trying to substantially grow its undergraduate population and that stems from our location in Surrey and the growth in Surrey and other south Fraser cities,” said Joanne Curry, SFU executive director and associate VP of external relations for SFU Surrey.