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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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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Apartment, Development, Rental

138 Rental Units Planned for Mount Pleasant/Broadway Plan Site

Fastmark has submitted a rezoning application for a 17,378 SF mid-block site at 469-491 East 10th Avenue in the Mount Pleasant area of East Vancouver, between Guelph Street and St. George Street.

The site is an assembly of three single family lots that has been designated for higher density in the MRTB subarea of the Broadway Plan.

The proposed project is a 17-storey rental tower that includes:

  • 138 rental units;
  • 20% below-market rental units;
  • a total density of 5.50 FSR;
  • tower floorplates averaging 6,500 SF;
  • A building height of 184.4 ft.
  • 32 underground parking stalls.

This application is being considered under the Broadway Plan.

The architect for the project is GBL Architects.

June 28, 2024by david.taylor@colliers.com
Development, Office

5-Storey Office & Industrial Building Proposed for Mount Pleasant Site

Openform Properties has submitted a development application for a 12,090 SF site at 288 West 8th Avenue, at the Southeast corner of West 8th and Alberta Street in mount Pleasant for a new office/light industrial building.

The site is currently improved with a 2-storey office building that was built in 1998.

The plan for the site is a new 5-storey mixed-use building, containing two levels of Manufacturing use, three levels of Office + rooftop amenity on this site. Details include:

  • 36,260 SF of office space;
  • 18,130 SF of light industrial/manufacturing space;
  • a total density of 4.50 FSR;
  • a building height of 95.7 ft.;
  • Two levels of underground parking having access from the lane.

Under the site’s existing I-1 zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Director of Planning.

The architect for the project is MA + HG.

June 28, 2024by david.taylor@colliers.com
Development, Office, Rental, Retail

Three Tower Mixed Use Rezoning Proposal Unveiled for Great Northern Way Site

PCI Group and Low Tide Properties have submitted their formal rezoning application for 455-485 Great Northern Way, located directly West of Emily Carr.

The proposal envisions a 20-storey office building with a 4-storey podium and two 35-storey rental towers. Details include:

  • 548 rental units;
  • 20% below market;
  • 71,000 SF of retail space;
  • 344,000 SF of office space;
  • a total density of 6.41 FSR;
  • A maximum building height of 373 ft.;
  • A publicly accessible open space integrated with the future Emily Carr SkyTrain station;
  • A childcare facility (94 spaces) dedicated turnkey to the City; and
  • 470 vehicle parking spaces and 1,848 bicycle spaces.

This application is being considered under the Broadway Plan.

The architect for the project is Perkins & Will.

The full application package can be viewed here: https://www.shapeyourcity.ca/455-565-great-northern-way-and-1850-thornton-st

June 18, 2024by david.taylor@colliers.com
Land, Office

FOR SALE: 3030 Gilmore, Burnaby

I am pleased to present for sale 3030 Gilmore, a 37,500 SF office building located on a highly visible & accessible 1.50-acre corner lot in Burnaby.

This is an ideal opportunity for a user group looking for vacant possession of a freehold, move-in ready office building in a great location with strategic proximity to Highway 1 offering the unique ability for visibility and brand exposure as well as easy access to all areas of Metro Vancouver.

The building underwent significant renovations in 2020 and features a gym, games area, two kitchens and a storage area.

Floors: 2
Building Area: 37,471 SF
Private Offices: 72
Meeting Rooms: 10
Surface Parking: 88 stalls


The building can be demised for multiple tenants and can be expanded. The large lot can also be redeveloped entirely for a wide variety of commercial or light industrial uses

For further details: https://www.collierscanada.com/en-ca/properties/for-sale-3030-gilmore-burnaby/can-3030-gilmore-diversion-burnaby-british-columbia-v5g-3b4/can2015552

June 18, 2024by david.taylor@colliers.com
Investment, Land

South Burnaby Industrial Site Sells for $34.5 Million

The Vancouver Investment & Development Advisors Group at Colliers has completed on the sale of a 6.30 acre commercial development site in the Big Bend area of South Burnaby.

The property is located at 5701-5813 Byrne Road. The site has an existing older 58,000 SF warehouse.

The sale completed at $34,500,000 or $5.5 Million per acre. The purchaser is a private local investor.

June 17, 2024by david.taylor@colliers.com
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11 May

District of North Van council sends proposed CapU student housing tower back to drawing board via @NorthShoreNews

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First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion

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First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while

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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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