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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, Office, Retail

Oxford Planning New Office Building on West Georgia Site

401wgeorgiastvanfjan12Oxford Properties has applied to the City of Vancouver for permission to build a brand new infill office building on an underutilized portion of a 59,000 SF lot and existing 22-storey office building property they own at 401 West Georgia (built in 1987) , which runs along Homer Street all the way to Dunsmuir Street on the North, where the new building will be located.

The plan is to build a new 9-storey office building on the North part of the property facing Dunsmuir Street. Details include:

  • retail and office use on the ground floor and office use on the 2nd-9th floors;
  • 4,654 SF of new retail space
  • 147,000 SF of new office space
  • Office floorplates of 14,000 – 19,000 SF
  • 6,600 SF of amenity space, 2,300 SF conference centre & 4,300 SF fitness facility
  • a building height of 139.4 feet
  • two levels of underground parking accessed from the lane; and
  • retention of the existing commercial building on the south portion of the site.

401 West Georgia

401 West Georgia_3 401 West Georgia_2 401 West Georgia_1 401 West Georgia_4The project is being proposed under the existing DD zoning and so only requires a development permit as opposed to rezoning.

The architect for the project is B + H Architects Inc.

March 22, 2017by david.taylor@colliers.com
Apartment, Development, Retail

52 Rental Units Planned for Main & 41st

Rendition Developments has submitted a rezoning application  for a long-vacant site at the NW corner of Main and 41st. The proposal for the 11,684 SF site at 5679 Main Street is for a 6-storey mixed-use building including:

  • 52 rental apartment units;
  • 5 studios, 29 one-bedroom units, 15 two-bedrooms & 3 three-bedroom units
  • 4,089 SF of ground floor retail space
  • a total density of 3.46 FSR
  • a building height of 76 ft.; and
  • 33 underground parking spaces and 72 bicycle parking spaces.
5679 Main

Existing condition

5679 Main_15679 Main_25679 Main_3This application is being considered under the Secured Market Rental Housing (Rental 100) Program.

The site sold in May 2016 for $6,000,000, or $149 per buildable SF based on the rezoned density anticipated in the application.

EDIT: This post previously mentioned that the site was an old gas station, which is not accurate, it was previously a commercial building torn down many years ago.

March 21, 2017by david.taylor@colliers.com
Development, Retail

19-Unit Condo Building Planned for Granville

A rezoning application has been submitted for a 6,301 SF mid-block site at 8795-8803 Granville Street, near the Southern end of Granville. The proposal includes a rezoning from RM-3A to CD-1 to allow a new six-storey residential building, including:

      • 19 residential units
      • 4 studios, 8 one-bedrooms, 6 two-bedrooms and 1 three-bedroom
      • 2,306 SF of ground floor retail space
      • a total density of 2.48 FSR;
      • a building height of 66 ft.;
      • 17 underground parking spaces and 25 bicycle spaces.

8795 Granville8795 Granville_18795 Granville_2The application is being considered under the Marpole Community Plan.

The architect for the project is Matthew Cheng Architects.

March 15, 2017by david.taylor@colliers.com
Apartment, Development

New Rental Building Planned for Marpole Site

Domus Homes has submitted a rezoning application for the redevelopment of a 16,200 SF apartment property in Marpole. The application seeks to rezone 8615 Laurel Street from RM-3A to allow a 6-storey secured market rental building that includes:

  • 65 market rental apartment units;
  • 43 One-bedrooms, 21 Two-bedrooms, and 1 Three-bedroom
  • a total density of 2.50 FSR;
  • a building height of 66 ft.;
  • 35 vehicle parking spaces; and
  • 87 bicycle spaces.

8615 Laurel8615 Laurel_18615 Laurel_2The application is being considered under the Marpole Community Plan.

The architect for the project is Birmingham & Wood.

March 13, 2017by david.taylor@colliers.com
Development

FOR SALE: 14-Acre Transit Oriented Development Site

We are pleased to formally introduce this 14-acre residential development site in the Bainbridge Area of Burnaby.


7000 LougheedPlease download our brochure for further information about the Property and the offering process: Brochure_7000 Lougheed

March 9, 2017by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

Colliers International

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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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