Allied Properties REIT has announced the completion of the remaining 50% interest in M4 of Main Alley Campus in Mount Pleasant from Westbank.
Details:
The sale was negotiated in July and completed September 30.
Marcon has completed an acquisition of a 20,647 SF site at the Southeast corner of West 3rd and Vine in Kits for $30,700,000, or $195 per buildable SF.
Marcon originally submitted a rezoning application under the Broadway Plan for a 207-unit, 21-storey rental tower in 2024, with a revised application increasing the height to 22-storeys in July 2025.
Allied Properties REIT has sold 1220 Homer Street to a user group for $13,250,000, . The 4-storey, 19,384 SF heritage office building was originally built in 1947 but had been restored. The building was primarily vacant at the time of sale.
The sale price equates to $684/SF.
The building had originally been acquired in 2018 for $17,500,000, and a 3.40% cap rate.
A streetfront retail and office building on Main Street near East 28th Avenue in Vancouver has sold for $5,500,000 or $810 per SF. The property sits on a 66 x 100′ mid-block lot and was fully leased (with demo clauses) at the time of sale.
The building had been listed for sale for $5,600,000 and was sold by Dorset Realty.
