A 140,000 SF strip retail centre on No. 3 Road has sold for $27,950,000. The property, located at 4551 No. 3 Road had been on the market for sale as an investment deal with the 5.5 acre site having upside for future redevelopment. Based on the 2012 reported income, the deal would appear to represent an approximate cap rate of 4.8%.

A rezoning application has been submitted for a 7.8 acre site located at 8601 Glenlyon Parkway at Marine Way. The vacant site is proposed for a 2-storey 122,000 SF warehouse and office facility, with a floor area breakdown as follows:

• Office: 30,910 SF
• Manufacturing: 7,933 SF
• Warehousing: 72,667 SF
• Commercial: 7,700 SF
• Restaurant: 2,710 SF

Onni announced via instagram today that they have acquired the 12.5 acre Gilmore Station area lands from Standard Life. The site, which is partially vacant, and partially occupied by industrial and office buildings, sold for a reported $110 Million.