IMG_0059, a photo by blazzzinred [vancityhotshots] on Flickr.

New Nordstrom building under construction.

Mayan Apartments, a 16-unit apartment building at West 3rd and Maple Street in Kits, has sold for $4,275,000, or a 3.9% cap rate and $267,000 per unit. The building had been listed for sale for $4,785,000.

The Arts and Crafts building located at 576 Seymour Street has sold to an offshore investor for $15,200,000, or $430 per SF.

The 35,411 SF C-Class building is located on the East side of Seymour between Dunsmuir and West Pender Streets. The cap rate was 4.4%.

PWC’s annual Emerging Trends in Real Estate 2014 report was released this week. The annual report surveys industry professionals and rates Canada’s nine largest commercial real estate markets on prospects for investment, development and homebuilding.

This year the survey placed Vancouver fourth, just slightly behind Saskatoon, and behind the energy-driven markets of Calgary and Edmonton; in first and second respectively.

Perhaps not surprisingly, respondents placed Vancouver firmly in buy/hold territory for most asset classes in 2014. Here are a couple of examples:

Apartment Buy/Sell/Hold Recommendations

Office Buy/Sell/Hold Recommendations

Download the full report here: http://www.pwc.com/ca/en/real-estate/emerging-trends-real-estate-canadian-summary.jhtml