A local private investor has acquired 122-130 West Hastings Street in Downtown Vancouver for $11,500,000, or $240 per sq ft.

The building is a 48,000 sq ft, 3-storey heritage building containing office space.

Regency Towers, an 11-storey, 112 unit building located at 706 Queens Avenue in New Westminster has been bought by a private investor for $14,975,000, representing $133,000 per unit.

The New Westminster apartment market continues to see a strong pace of transaction activity bolstered by strong fundamentals and relatively attractive prices on a per unit basis.

La Carina Apartments, a 12-storey 37-unit building located at 1937 Pendrell Street in the West End of Vancouver has sold for $13,500,000, representing $365,000 per unit.

The vendor and purchaser were both private investors.

Reliance Properties has acquired The Pemberton Building, 744 West Hastings Street in Downtown Vancouver, B.C. The building is a 65,000 sq ft, 8-storey C-Class office building built in 1912.

The purchase price was $19,000,000, representing $291 per sq ft.

Ted Mildon and Derek May of Colliers acted on behalf of the Vendor and Purchaser in the transaction.

745 Thurlow, a 22-storey office tower at Thurlow and Alberni

British Columbia Investment Management Corporation (bcIMC) has announced plans for the construction of its newest office building, 745 Thurlow, a 400,000 square foot, AAA office tower to be built to LEED Gold standard, in downtown Vancouver.

The project has secured it’s lead anchor tenant, McCarthy Tetrault, who currently occupies 75,000 sq ft at 777 Thurlow St.

The project is scheduled to complete in 2015, with demolition of the existing structure to commence in early 2012.

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