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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Investment, Office

SOLD: 1445 West Georgia Street

Colliers International has acted on behalf of the Vendor in the sale of 1445 West Georgia Street, a six storey 32,490 SF office building on a 10,800 SF site located in Coal Harbour in Downtown Vancouver. This site is a redevelopment property under the existing DD zoning, which allows residential up to 6.0 FSR. The purchase price was $15,250,000, representing $469 per SF for the building, or $235 per SF of buildable area.

October 23, 2012by david.taylor@colliers.com
Development

Plans Unveiled for WV’s Gateway

Plans unveiled for WV’s gateway.

West Vancouver’s aging police station could soon be replaced by an eight-storey residential complex if a plan tabled by the site’s prospective owners is taken up by the municipality.

Grosvenor property developers submitted a development permit application to the district Monday that would see the entire 1300block of Marine Drive levelled and replaced with a pair of tiered mid-rises joined by a covered galleria. If approved, the west block would rise eight storeys and the east block seven. The ground floor would be taken up with retail space, and the floors above it would contain a total of approximately 88 residential units, according to the municipality.

Read more: http://www.nsnews.com/news/Plans+unveiled+gateway/7415157/story.html#ixzz2A2Ra21uZ
October 22, 2012by david.taylor@colliers.com
Development

Burnaby’s Station Square Begins Major Transformation

Burnaby NewsLeader – Burnaby’s Station Square begins major transformation.

Back in the 1950s, Keith Beedie heard that a large piece of property, home to the Ford Motor Co. and Kelly Douglas, could be had for a price.

“They wanted $1 million for it. I thought, ‘are they crazy?'”

He never would have dreamed back then that one day he’d own a large piece of the property, and that the company he founded, Burnaby-based Beedie Development Group, would have a hand in its transformation.

The company, which until now had mainly been known for its industrial development projects, is now run by his son Ryan Beedie and is half-owner of Station Square shopping centre through its residential development division, Beedie Living.

Along with partner Anthem Properties, the developer is launching sales this weekend of condominium units in the first of five new towers slated for the major redevelopment.

Read more: http://www.burnabynewsleader.com/news/174798661.html

October 19, 2012by david.taylor@colliers.com
Development

Seylynn Village Project Revised

Seylynn Village, a 5.7 acre site in the Lower Lynn area of North Vancouver that was approved for rezoning in 2009, has been redesigned by the new owners and brought to council on October 15, 2012.

The new plan includes five buildings ranging in height from 3 storeys to 32 storeys. The project includes approximately 10,800 SF of commercial space, 720 market condos and townhouses, 70 affordable rental apartments, and a 2,500 SF child-care facility. The plan also calls for an extension of Keith Road to wrap around the North side of the property, effectively closing of Fern Street.

The previous version of the proposal included fewer towers, more commercial space, and fewer residential units. The new plan allows for more practical phasing of the project.

The developer, Seylynn Properties, has a website which states ‘coming soon‘.

October 18, 2012by david.taylor@colliers.com
Development

New Site Considered for Sea Island Luxury Outlet Mall

Richmond Review – New site considered for Sea Island luxury outlet mall.

Vancouver International Airport is looking at an alternate location to place a controversial luxury designer outlet originally planned for on Russ Baker Way.

“After we consulted with our communities and residents in the summer, we considered a potential alternate site on Sea Island. The potential alternate site is located on the northeast corner of Sea Island and offers closer access to the Templeton Canada Line station,” said airport authority spokesperson Alana Lawrence. “The project is still going forward…Feasibility testing is currently underway on the site (and) should be completed this fall.”

Read more: http://www.richmondreview.com/news/174487461.html

October 17, 2012by 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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