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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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

Revised Plans Envision 14-Storey Strata Office in Coquitlam

Cressey has submitted a development permit amendment application for the site at 2992 Glen Drive, in the Coquitlam City Centre area.

The site was originally approved for a 9-storey office building in 2011, as part of the rezoning for this site and the neighbouring residential sites (M1, M2 & M3). The office tower is the fourth and final phase.

The site is designated City Centre Commercial and zoned C-7 High Density
Commercial. There is a vacant residential sale centre and a surface parking lot on site.

The original plan from 2011 included a 9-storey office tower with 53,000 SF. The new revised proposal is for a 14-storey strata office tower that includes:

  • 78,000 SF of gross commercial space;
  • 64 strata office units;
  • 3 strata retail units;
  • 145 below & above-ground parking spaces;
  • a 6,600 SF outdoor amenity space on the roof and podium deck;
  • a building height of 211 ft.

The architect for the project is RHA Architects.

March 5, 2021by david.taylor@colliers.com
Development, Office

1.7 Acre Mount Pleasant Development Site Sold

PCI Group, in partnership with HOOPP, have completed their acquisition of the Alsco site, a 1.66 acre redevelopment property in the Mount Pleasant area of Vancouver.

The site, located at 5 West 4th Avenue between Ontario and Manitoba Streets is L-shaped and is zoned I-1. The I-1 zoning permits a density of 3.0 FSR, or just over 205,000 SF.

February 28, 2021by david.taylor@colliers.com
Condo, Development, Retail

38 Condos Planned for Marpole Site

Kunyuan International has submitted a rezoning application for a 16,143 SF site at 8804 Osler St, just West of Oak Street and Marine Drive. The site sits in the same block as another condo project currently under construction fronting Marine Drive, 8888 Osler. The site is currently improved with an older two-storey strip commercial building.

The proposal is to allow for the development of a 6-storey woodframe condo building. The zoning would change from MC-1 (Industrial) District to CD-1 (Comprehensive Development) District. This proposal includes:

  • 38 condo units;
  • 16 one-bedrooms, 15 two-bedrooms, 8 three-bedrooms;
  • 7,018 SF of ground floor retail space;
  • A total density of 3.05 FSR;
  • A building height of 80 ft.;
  • 59 vehicle parking spaces and 91 bicycle parking spaces.

The application is being considered under the Marpole Community Plan.

The architect for the project is DA Architects & Planners.

February 24, 2021by david.taylor@colliers.com
Development

FOR SALE: Oakridge Highrise Development Site

We are pleased to introduce this opportunity to develop a residential highrise just across Cambie on the south side of West 43rd Avenue. This 19,928 SF (165′ x 120′) development site has been designated for an 18-storey residential tower (condo or rental) with retail at grade in the Cambie Corridor Plan.

Asking $29,700,000, or $219 per buildable SF based on expected density of approx. 6.80 FSR.

Please contact us for further details or view the listing: https://www.collierscanada.com/en-ca/properties/for-sale-oakridge-highrise-development-opportunity/can-438-476-west-43rd-avenue-vancouver-vancouver-british-columbia-canada/can2003840

February 24, 2021by david.taylor@colliers.com
Development

Redevelopment Plan for SE Marine White Spot Property Includes 3-Storey Light Industrial

Shato Holdings has applied to the City of Vancouver for permission to redevelop the White Spot property at 1126 SE Marine Drive, at the corner of Ross Street in South Vancouver, with a new 3-storey Wholesale Industrial project, entitled “Sunrise Industrial Centre”.

The White Spot on the property is reportedly closing down this spring.

The proposal includes:

  • A gross floor area of 134,421 SF;
  • A density of 1.43 FSR;
  • A building height of 73.5 ft.;
  • Parking located in one level below grade, on surface and on the second storey with vehicular access from Ross Street.

Under the site’s existing I-2 zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Director of Planning.

The architect for the project is TKA+D Architecture + Design.

The development application can be viewed here: https://shapeyourcity.ca/1126-se-marine-dr

February 14, 2021by 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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