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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Investment, Office

1867 West Broadway Sells in $16.1 Million Deal

1867 West Broadway, a 3-storey B Class concrete office building more commonly known as The CGA Building, has sold for $16,125,000. The 31,000 SF building was owned by the Certified General Accountants Association of B.C., who will vacate it’s 26,000 SF this summer. The site the building is located on is 13,402 SF and is zoned C-3A. The property was listed for sale in late 2014 with no asking price.

The 2nd floor of the building is currently listed for lease at $22.00 per SF.

The purchaser was Austeville Properties who owns the adjacent commercial building. This appears to be a long-term strategic investment as opposed to any kind of redevelopment deal.

1867 West Broadway

March 17, 2015by david.taylor@colliers.com
Development, Office

Construction Update: 745 Thurlow Street

Exterior work on Bentall/bcIMC’s 745 Thurlow project appears to be nearing completion.

Photo by 604 City on Flickr

March 4, 2015by david.taylor@colliers.com
Development, Office, Retail

Richmond’s International Trade Centre Project Closer to Reality

MYIE Group is forging ahead with plans for a site in the Bridgeport Area of Richmond that has been on the drawing board. They have now applied for a development permit for the proposed International Trade Centre. The project was originally conceived several years ago and recieved rezoning in 2013.

The site is a triangular, 71,350 SF piece of land at 8451 Bridgeport Road. The proposed uses include general retail, restaurant, hotel and office. The plan includes:

  • A total density of 3.0 FAR (215,000 SF)
  • Three towers of 9, 12 (office) and 14-storeys (hotel) with a common five-storey podium including retail
  • Approximately 100 hotel rooms (Opus Hotel, managed by Trilogy)

In an effort to capitalize on the overwhelming success of Aberdeen Square, the office space will be strata-titled and sold. The developer is taking registrations through Magnum Projects.

ITC Richmond ITC Richmond_1

February 13, 2015by david.taylor@colliers.com
Development, Office, Retail

Office/Retail Building Planned for Burrard and West 4th Corner

A development application has been submitted for a prominent corner. A new 3-storey building is in the planning stage at the Northeast corner of Burrard and West 4th Avenue, currently home to Comor Sports. The proposal for the 93′ x 113′, C-2B zoned site includes:

  • retail use on Level 1 (Comor would be the tenant)
  • office use on Levels 2 and 3
  • 3 levels of underground parking
  • total floor area of 26,244 SF (2.5 FSR)

1785 West 4th Ave

 

February 11, 2015by david.taylor@colliers.com
Development, Office

Details on Telus Gardens’ Two-Storey Video Screen

Details about the new ‘Media Facade’ on the Telus Gardens office tower are emerging and it seems like it will be a distinctive feature. The screen is located on the west façade, between the 16th and 18th floors, and is approximately 26′ x 40′. It is only visible in one direction from both Georgia and Seymour Streets.

Telus1 Telus2 Telus3

Here’s a description from the application:

“A simple and proven technology of back projection onto a retractable screen will provide a glare-free static image or full motion video. At dusk the screen descends, and the façade transforms.

When the performance is over, the screen ascends and the office tower is back to business. Content will be a mix of public art (including community messaging) and tenant exposure with the City of Vancouver reserving the right for special event programming.”

More details here.

January 27, 2015by 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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