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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For Sale, Retail

Cambie Street Retail Building Sells for 5.6% Cap Rate

The Vij’s Restaurant property on Cambie Street has sold. The single tenant retail property had been on the market for several months and sold to a local investor.

Details:

  • Single tenant: Vij’s
  • Triple net lease
  • Lease expiry 2030 w/renewal options
  • 6,879 SF rentable
  • 4,937 SF site
  • $7,450,000
  • 5.60% cap rate
  • $1,083/SF

The building was listed and sold by Brett Aura of TRG. The original asking price was $7,988,000.

October 20, 2025by david.taylor@colliers.com
For Sale, Office

Surrey Medical Office Building Sells in $13 Million Deal

A 3-storey medical office building known as Fleetwood Professsional Centre has sold. The property is located at 16088 84th Avenue in the Fleetwood area of Surrey.

Details:

  • 28,074 SF
  • Year Built: 1994
  • 84 surface parking spaces
  • Price: $13,000,000
  • $463/SF

The property was sold by Nicholas Westlake of CBRE.

October 20, 2025by david.taylor@colliers.com
For Sale, Office

Allied REIT Completes Acquisition of M4 Office Building in Mount Pleasant

Allied Properties REIT has announced the completion of the remaining 50% interest in M4 of Main Alley Campus in Mount Pleasant from Westbank.

Details:

  • Building Size: 208,000 SF (167,000 SF office, 38,000 SF industrial)
  • Year Built: 2025
  • 50% Interest
  • Purchase Price: $89,700,000
  • $863/SF

The sale was negotiated in July and completed September 30.

October 20, 2025by david.taylor@colliers.com
Apartment, Investment

West End Apartment Building Trades in $12.3 Million Deal

A 10-storey concrete apartment building in the West End has sold. 1222 Pendrell Street has sold for $12,300,000, or $286,000 per unit. The 43-unit building was built in 1972.

The building contains 41 one-bedroom units and 2 two-bedroom units.

  • 43 Units
    • 41 one-bedrooms, 2 two-bedrooms
  • Avg. Market Rent $3.91/SF
  • Assessment Value: $18,838,000
  • Asking Price: $15,000,000
  • Notes: “Major capital upgrades required”

The property was listed and sold by Avison Young.

October 3, 2025by david.taylor@colliers.com
Development, Rental, Retail

GWL Proposing Two Towers, 470 Rental Units for False Creek Flats Site

GWL has submitted their formal rezoning application for 1220 Station Street, following a formal announcement earlier this year that they were pivoting from the previously approved office building proposal. GWL acquired the site from Rize Alliance.

The current proposal is two rental towers, 36 & 28-storeys, as well as retail, office, and residential uses in an an 8-storey podium. Overall, the proposal includes:

  • 470 units with 20% of the floor area for below-market rental units;
  • a total density of 11.1 FSR;
  • A building height of 287 ft. and 360 ft.

This application is being considered under the False Creek Flats Plan and the Transit-Oriented Areas Rezoning Policy.

The architect for the project is MCM.

The full application can be viewed here: https://www.shapeyourcity.ca/1220-station-st

October 3, 2025by 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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