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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Apartment, Condo, Development, Office, Retail

FOR SALE: 14-Acre Mixed-use /Residential Development Site

We are pleased to present this 14-acre residential/mixed-use development site in Burnaby, located adjacent the Sperling-Burnaby Lake Station.

Please download our brochure for further information about the Property.

January 24, 2020by david.taylor@colliers.com
Condo, Development, Office

Landa Global Acquires Richmond Hotel/Condo Site

Landa Global has acquired a 3.4 acre development site on Elmbridge Way in the City Centre area of Richmond for $60 Million. The site is designated Urban Centre T5 within the Oval Village subarea of the City Centre Area Plan.

A rezoning application had been submitted by the previous owner to allow a high-density mixed use residential hotel development in three towers.

The site at 6851 & 6871 Elmbridge Way had been listed for sale with Avison Young in 2019:

We reported the site’s previous sale in 2014. The purchase price at that time was $31,300,000.

January 21, 2020by david.taylor@colliers.com
Condo, Development, Office, Retail

10-Storey Mixed Use Building Planned for Cambie & 49th

A rezoning application has been submitted by Gryphon Development for a site at the Northwest corner of Cambie and West 49th Avenue, across the street from the Langara/49th Skytrain Station.

The 36,720 SF site at 6409-6487 Cambie Street is currently zoned for duplexes, but was redesignated to allow medium density development.

The proposal consists of a 10-storey mixed-use building over two levels of underground parking with:

  • 127 condo units;
    • 21 studios, 36 one-bedrooms, 53 two-bedrooms & 17 three-bedrooms;
  • 10,688 SF of retail space;
  • 27,286 SF of office space on the 2nd and 3rd floors;
  • a 37-space childcare facility on level two;
  • A building height of 131 ft.;
  • A total density of 4.09 FSR; and
  • 163 underground parking spaces and 306 Class A bicycle spaces.

The application is being considered under the Cambie Corridor Plan.

Gryphon acquired the site in 2018 for $59,950,000, or $535 per buildable SF based on the application.

The architect for the project is Acton Ostry Architects.

December 17, 2019by david.taylor@colliers.com
Development, Office, Retail

Reliance Planning 445,000 SF, 29-Storey Office Tower at Seymour and Pender

Reliance Properties has now submitted their application to rezone the Seymour parkade site at 443 Seymour Street (NW corner of Seymour and Pender) to allow for a 29-storey office building.

The proposal includes:

  • 430,000 SF of office space;
  • 15,000 SF of retail space;
  • a total density of 22.9 FSR;
  • 8 levels of underground parking containing 201 parking spaces, 5 passenger spaces, 6 Class A loading spaces, 2 Class B loading spaces, and 246 bicycle spaces
  • Building height of 337.5 ft.

This application is being considered under the Rezoning Policy for the Central Business District (CBD) and CBD Shoulder.

Reliance Properties bought the site in 2019 for $100,000,000 USD, or $295 per buildable SF based on the application.

The architect for the project is KPF Architects.

The full rezoning application can be viewed here: https://rezoning.vancouver.ca/applications/443seymour601wpender/index.htm

December 2, 2019by david.taylor@colliers.com
Condo, Development, Office, Retail

8-Storey Mixed-use Building Planned for Oak & 67th

A rezoning application has been submitted for the strip retail building at the corner of Oak Street and West 67th Avenue in Marpole, formerly home to Starbucks.

8257 Oak Street is zoned C-1 and totals 18,207 SF. The proposal consists of an 8-storey mixed-use building over two levels of underground parking and includes:

  • 62 condo units;
    • 4 studios, 36 one-bedrooms, 16 two-bedrooms & 3 three-bedrooms;
  • 5,988 SF of retail space on the ground floor;
  • 8,713 SF of office space on the 2nd floor;
  • A total density of 3.5 FSR;
  • A maximum building height of 104 ft.; and
  • 69 parking spaces and 124 bicycle spaces.

This application is being considered under the Marpole Community Plan.

The architect for the project is GBL Architects.

The site was purchased in 2018 for $20,000,000 or $314 per buildable SF based on the application.

November 27, 2019by 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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