A 7-storey office building at the corner of West Pender and Hornby has sold for $20,300,000, or $495 per sq ft. The 41,000 sq ft building was built in 1968 and had been marketed for sale in early 2012.
The purchaser was a local investor. The top floor has been vacant and can be renovated to allow use as office space.
A 14-unit three-storey walkup apartment building in Kits has sold for $4,800,000, or a 3.1% cap rate ($343,000 per unit). The building, located at 2250 York Avenue contains one and two bedroom units and had been listed for sale for $5,600,000. The property is zoned RM-4.
A commercially designated site near Lougheed and Willingdon in the Brentwood town centre area has sold.
4488 Halifax Street is a 18,299 sq ft site that is located mid-block on Halifax Street west of Willingdon Avenue.
The property, which has been vacant for several years, sold for $3,313,000. Previous development inquiries for the site included office & commercial schemes at densities up to 6.0 FAR.
