A retail property with redevelopment potential located on Kingsway in Vancouver’s Norquay Village area has sold for $8,580,000. The 13,750 SF strip plaza is leased to mostly local tenants. The 26,936 SF site is zoned C-2. On a land basis, the site sold for $127 per buildable SF.

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