Courtesy The National Post

“While the housing market languishes, investment activity in commercial property continues to be red hot, with a $500-million deal for Standard Life’s real estate portfolio the latest on the horizon.

By some definitions, this could make 2012 the best year ever for commercial property sales — a year in which the Bank of Nova Scotia sold its head office for a record-breaking $1.27-billion.

Postmedia News has learned that Montreal-based Standard Life is selling a major Toronto office along with three other properties in Montreal, Calgary and Edmonton in what would be the third-largest deal of the year.

Standard Life spokeswoman Ann-Marie Gagné confirmed the sale of the two buildings in Alberta, but would not disclose the purchase price. The two had been part of a deal for a four-piece portfolio but it has since been broken up into two transactions.”

View the full article HERE.

New Westminster News Leader – Restaurant eyed for new building.

An open house will be held next Thursday for a proposed restaurant patio at the Queen’s Park West office complex under construction in New Westminster’s Uptown district.

It will be held Nov. 29 from 5 to 8 p.m., at 300-601 Sixth St.

Uptown Property Group are the owners of the building, which is on Sixth Avenue at Fifth Street.

Read more: http://www.newwestnewsleader.com/news/180187751.html

Peace Arch News – Morgan plan moves ahead.

A proposed commercial and office space development on a 25-acre parcel of property at 20 Avenue, just east of Highway 99 cleared an important hurdle last week, winning approval in the form of a unanimous third reading at a city public hearing (Couns. Mary Martin and Judy Villeneuve were absent, according to the city clerk’s record).

The $100 million Morgan Place Developments Ltd. project will include 25,953 sq. m (279,000 sq. ft.) of retail and restaurant uses and 9,662 sq. m (104,000 sq. ft.) of office space.

It will have 1,330 parking stalls, 676 of which will be underground.

Read more: http://www.peacearchnews.com/business/173751331.html

Colliers International has acted on behalf of the Vendor in the sale of 1445 West Georgia Street, a six storey 32,490 SF office building on a 10,800 SF site located in Coal Harbour in Downtown Vancouver. This site is a redevelopment property under the existing DD zoning, which allows residential up to 6.0 FSR. The purchase price was $15,250,000, representing $469 per SF for the building, or $235 per SF of buildable area.

Anthem Properties recently announced the acquisition of the BC Electric Building, a 119,334 square foot office building located at in intersection of Hastings Street and Carrall Street.  The price was undisclosed.