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.

We are pleased to re-introduce Westwood Square, an 18,000 SF retail and office property located on Westwood Street in Port Coquitlam. The asking price has been reduced from $9,800,000 to $7,850,000, representing a 5.5% cap on stabilized income.

Please click here, contact us for further information or to access the data room.

I’m pleased to announce the sale of 3030 Gilmore Diversion in Burnaby. This 47,000 SF office building is located on a 1.5 acre site.

The sale price was $16,200,000.

A vacant 15,000 SF, two-storey office building at 1285 Franklin Street in East Vancouver has sold for $10,550,000, or $695 per SF. The purchaser is Freedom Mobile Inc.

The building, located half a block West of Clark Drive, had previously been listed for sale for $11,000,000. It is fully furnished with high quality improvements. The lot size is 15,762 SF.

Jones Lang Lasalle acted as agent in the sale.

Oxford Properties has submitted their rezoning application for 11 East 4th Avenue, a 24,185 SF site at the northeast corner of East 4th and Ontario Street in Mount Pleasant.

The proposal for the site is to allow for the development of a 8-storey mixed-use industrial building and includes:

• 78,000 SF of office/lab space;
• 78,000 SF of industrial space;
• 6,800 SF of ground floor retail space;
• a total density of 6.70 FSR; and
• A building height of 146 ft.

This application is being considered under the Broadway Plan.

The site was acquired by Oxford in 2021 for $30,500,000, or $187 per buildable SF based on the application.

The architect for the project is Chernoff Thompson Architects.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/11-15-e-4-ave