![IMG_0059 by blazzzinred [vancityhotshots]](http://farm8.staticflickr.com/7325/10978075343_e51364f7c0.jpg)
New Nordstrom building under construction.
The Arts and Crafts building located at 576 Seymour Street has sold to an offshore investor for $15,200,000, or $430 per SF.
The 35,411 SF C-Class building is located on the East side of Seymour between Dunsmuir and West Pender Streets. The cap rate was 4.4%.
PWC’s annual Emerging Trends in Real Estate 2014 report was released this week. The annual report surveys industry professionals and rates Canada’s nine largest commercial real estate markets on prospects for investment, development and homebuilding.
This year the survey placed Vancouver fourth, just slightly behind Saskatoon, and behind the energy-driven markets of Calgary and Edmonton; in first and second respectively.
Perhaps not surprisingly, respondents placed Vancouver firmly in buy/hold territory for most asset classes in 2014. Here are a couple of examples:
Apartment Buy/Sell/Hold Recommendations
Office Buy/Sell/Hold Recommendations
Download the full report here: http://www.pwc.com/ca/en/real-estate/emerging-trends-real-estate-canadian-summary.jhtml
There is a sizable new office block with a design not like any other on the North Shore coming to central Lonsdale.
City of North Vancouver council voted Monday night to approve a five-storey, 9,600-square-foot retail/office building on the corner of 12th Street and Lonsdale Avenue. The site is currently home to a convenience store, a Vietnamese restaurant, a pizza restaurant as well as a laundromat and hair salon.
The building’s facade is like most glass curtain wall designs used in office towers, except it is rotated 45 degrees and divided up into a mesh. The outer wall then curves outward and turns into an awning over the sidewalk.
The proposal exceeds the density allowed on the site, however council agreed to amend the official community plan because the building includes “employment generating space,” and because the developer is contributing $172,800 to the city’s community amenity fund.
12-unit Gleneagles townhouse project proposed in West Vancouver
A new proposal has surfaced for the parking lot next to Waterfront Station.
The redesigned project includes a 26-storey, 416,000 SF office tower, shaped like a tree, cantilevered over the existing station building.
Architect: James Cheng
Details: https://bit.ly/46aUB0W