By Paul Brent

So what’s a B landlord to do besides sell?

Colliers International outlines three different strategies for B owners, which it describes as specialization, capital injection and repurpose with illustrative case studies for each.

“Those are the three that we found when we were doing our research that are proven to be the most popular and realistic for a landlord to consider,” said Curtis Scott, a market intelligence analyst with Colliers in Vancouver.

Colliers classifies A and AAA buildings are those located within a city’s central business district, with proximity to mass transit, amenities like ground floor retail and community space. B and C class office, on the other hand, is characterized by its less strategic locations, limited transit and amenities and less attractive office space.

Specialization An Option

One emerging strategy for landlords with less desirable office space would be to specialize in a specific tenant type or industry. An example Colliers raises is that of a landlord who …read more

Source: RENX

By John Clark

The asking price isn’t being disclosed. The Vancouver Sun reported the property’s assessed value is $89.9 million.

But assessed value is a measure of the value of the real estate on which the building rests, as well as the building itself. This does not take into account the value of the business operating on the premises.

These are unrelated – at least in theory. In practice, they often become quite tangled, and not just in the tourism and hospitality sector. This entanglement is often accidental. Sometimes it’s deliberate – a subtle exercise in turning a blind eye some owners may believe will serve their tax planning objectives. Trying to shave dollars from one tax bill, however, may just end up costing you more down the road and leave you painted into a corner.

But even with the best of intentions, distinguishing real estate from business value can be a challenging valuation scenario.

When a hotel isn’t just a hotel

Take a hotel. A sale will typically include all the chattels – furniture, fixtures and equipment – plus the expectation on the part of the buyer that they have …read more

Source: RENX

Marloborough Court, a 5-storey office building located at Marlborough Avenue and Kingsway in Burnaby, has been sold to a local private investor.

The building is adjacent to Metropolis at Metrotown mall, is an 83,000 square foot, five storey office complex offering large floor plates. The purchase price was $27,200,000, or $326 per SF.

The building is located on a fairly large site, totaling 36,500 SF. The site is designated commercial within the existing Metrotown Plan.

A controversial piece of property in central Coquitlam that’s sat vacant for years will get a new lease on life, in a move that was widely opposed at a public hearing Monday.The property is located at 1649 Como Lake Ave., directly west of the Chevron station at the intersection with Poirier Street.

The proponent, represented by Tideway Developments, wants to consolidate two lots at 1649 and 1665 Como Lake Ave. to make way for a one-storey, 6,600-square-foot development encompassing four businesses.

What those businesses will look like remains unclear, as the developers are still seeking interested parties. The city’s zoning policy allows only for businesses like a grocery store, specialty food retailer, flower shop or seasonal Christmas tree stand.

The rezoning was endorsed unanimously, despite a handful of residents at the public hearing citing concerns around increased traffic, crime and vandalism, a loss of property values, and the belief that commercial units don’t belong in the neighbourhood.

Read more: http://www.thenownews.com/news/long-vacant-lot-in-coquitlam-to-be-redeveloped-1.1077604