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

5-Storey Office & Industrial Building Proposed for Mount Pleasant Site

Openform Properties has submitted a development application for a 12,090 SF site at 288 West 8th Avenue, at the Southeast corner of West 8th and Alberta Street in mount Pleasant for a new office/light industrial building.

The site is currently improved with a 2-storey office building that was built in 1998.

The plan for the site is a new 5-storey mixed-use building, containing two levels of Manufacturing use, three levels of Office + rooftop amenity on this site. Details include:

  • 36,260 SF of office space;
  • 18,130 SF of light industrial/manufacturing space;
  • a total density of 4.50 FSR;
  • a building height of 95.7 ft.;
  • Two levels of underground parking having access from the lane.

Under the site’s existing I-1 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 MA + HG.

June 28, 2024by david.taylor@colliers.com
Development, Office, Rental, Retail

Three Tower Mixed Use Rezoning Proposal Unveiled for Great Northern Way Site

PCI Group and Low Tide Properties have submitted their formal rezoning application for 455-485 Great Northern Way, located directly West of Emily Carr.

The proposal envisions a 20-storey office building with a 4-storey podium and two 35-storey rental towers. Details include:

  • 548 rental units;
  • 20% below market;
  • 71,000 SF of retail space;
  • 344,000 SF of office space;
  • a total density of 6.41 FSR;
  • A maximum building height of 373 ft.;
  • A publicly accessible open space integrated with the future Emily Carr SkyTrain station;
  • A childcare facility (94 spaces) dedicated turnkey to the City; and
  • 470 vehicle parking spaces and 1,848 bicycle spaces.

This application is being considered under the Broadway Plan.

The architect for the project is Perkins & Will.

The full application package can be viewed here: https://www.shapeyourcity.ca/455-565-great-northern-way-and-1850-thornton-st

June 18, 2024by david.taylor@colliers.com
Land, Office

FOR SALE: 3030 Gilmore, Burnaby

I am pleased to present for sale 3030 Gilmore, a 37,500 SF office building located on a highly visible & accessible 1.50-acre corner lot in Burnaby.

This is an ideal opportunity for a user group looking for vacant possession of a freehold, move-in ready office building in a great location with strategic proximity to Highway 1 offering the unique ability for visibility and brand exposure as well as easy access to all areas of Metro Vancouver.

The building underwent significant renovations in 2020 and features a gym, games area, two kitchens and a storage area.

Floors: 2
Building Area: 37,471 SF
Private Offices: 72
Meeting Rooms: 10
Surface Parking: 88 stalls


The building can be demised for multiple tenants and can be expanded. The large lot can also be redeveloped entirely for a wide variety of commercial or light industrial uses

For further details: https://www.collierscanada.com/en-ca/properties/for-sale-3030-gilmore-burnaby/can-3030-gilmore-diversion-burnaby-british-columbia-v5g-3b4/can2015552

June 18, 2024by david.taylor@colliers.com
Development, Office

6-Storey Dealership & Office Building Planned for Burrard & 5th

Openform Properties has submitted a development application for the redevelopment of the the BMW dealership site at Burrard and 5th.

The development of the 46,000 SF site is proposed under the new IC-2 District Schedule and in the Broadway Plan, which allows a combination of retail, industrial and office uses up to a total density of 4.50 FSR.

The proposal for the site is a 6-storey building that includes:

  • A new BMM, Mini and Rolls Royce dealership on the ground floor;
  • Showroom & industrial uses on the 2nd and 3rd floors;
  • Office space on the 4th to 6th floors;
  • a total building size of 206,000 SF;
  • a building height of 95 ft.;
  • Loading to be located at the rear of the building with access from the lane
  • Four levels of underground parking with 309 stalls.

Under the site’s proposed IC-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 SHAPE Architecture.

May 29, 2024by david.taylor@colliers.com
Apartment, Condo, Development, Office, Retail

Onni Presents Master Plan Concept for 7.2 Acre Coquitlam College Site

Onni is presenting their master plan development application for the Coquitlam College site.

The 7.2 acre site is located on Brookmere Avenue at Whiting Way in the Burquitlam area and is currently improved with the Coquitlam College school and several adjacent single family residences.

Onni submitted their initial application in late 2023, but the full master plan proposal is now at council for early stage review.

Details of the overall plan include:

  • Seven towers ranging from 28-50 storeys;
  • Approx. 2,500 residential units;
  • 1,813 condo units;
  • 595 market rental units;
  • 92 below market rental units;
  • 56,000 SF of office space;
  • 7,200 SF of retail space;
  • a total density of 6.71 FAR (2.1 Million SF)

Onni acquired the site in 2021 for $148,100,000, or $71 per gross SF based on the application.

The architect for the project is Boniface Oleksiuk Politano Architects.

May 24, 2024by 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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