A streetfront retail property in the Connaught Heights area of New Westminster has sold for $5,000,000. The property is fully leased to ten local retail tenants.

Property Details:

• Type: Streetfront multi-tenant retail
• Building Size: 10,478 SF
• Lot Area: 16,113 SF
• Year Built: 1919
• Cap Rate: 5.3%

The property includes 18 parking stalls. It had been listed for $6,500,000.

The property was listed and sold by Cody Davis of Jovi Realty.

Chard Development has submitted their revised rezoning proposal for 1045 Haro Street, a one-acre site in the West End at the Northeast corner of Haro and Thurlow Streets.

The site had previously been proposed for a 55-storey condo tower, but a formal application never proceeded. The site was subsequently sold via a court ordered sale in 2024, when Chard acquired the site.

The new proposal is two rental towers above commercial. The tower heights are 26-storeys and 25-storeys, above an 8-storey podium. Details include:

• 542 rental units including 22 below-market units;
• A childcare facility;
• 26,000 SF of retail space including a grocery anchor;
• a total density of 10.78 FSR;
• A building height of 262 ft.

This application is being considered under the West End Community Plan.

The architect for the project is MCM Architects.

For further information: https://www.collierscanada.com/en-ca/properties/for-sale-fully-leased-retail-and-apartment-building-on-kingsway-new-pricing/can-3155-kingsway-vancouver-bc/can2016373

We are pleased to re-introduce Westwood Square, an 18,000 SF retail and office property located on Westwood Street in Port Coquitlam. The asking price has been reduced from $9,800,000 to $7,850,000, representing a 5.5% cap on stabilized income.

Please click here, contact us for further information or to access the data room.

A freestanding CIBC on No. 5 Road in the Ironwood area of south Richmond has sold for $7,398,000, or $1,468 per SF.

Property Details:

• Type: Single Tenant Retail
• Tenant: CIBC
• Lease Expiry: 2029 (3 x 5yr options)
• Building Size: 5,041 SF
• Lot Area: 20,021 SF
• Year Built: 2014
• Cap Rate: 3.9%

The property includes 23 parking stalls and a drive thru ATM. It had been listed for $7,850,000.

The property was listed and sold by Allon Shapiro and Angus Tone of CBRE.