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, Development, Office, Retail

PCI Planning 600 Rental Units, Office Tower For False Creek Flats Site

PCI Group & Low Tide Properties have submitted their rezoning application for 1155 East 6th Avenue.

The site is located adjacent to VCC-Clark SkyTrain Station directly north of Vancouver Community College with China Creek Park located to the southwest.

The Broadway Plan envisions high-density industrial, office, and retail uses with a maximum density of 10.0 FSR for 1155 E 6th Ave.

The proposal for the site is a mix of uses including a 19-storey office building (west tower) and two 35-storey mixed-use rental buildings (centre and east towers) and includes:

  • 600 rental units including 120 below market units;
  • 180,000 SF of office space;
  • a full size grocery store;
  • 40,000 SF of light industrial space;
  • a 64-space childcare facility dedicated to the City; and
  • a total density of 8.67 FSR.

This application is being considered under the Broadway Plan.

The architect for the project is MCMP Architects.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/1155-e-6-ave

The site was acquired in 2021 for $110,635,700, or $148 per buildable SF based on the application.

August 15, 2024by david.taylor@colliers.com
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
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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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