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Investment, Retail

851-855 West Broadway, Sold

A single-storey retail building at 851-855 West Broadway has sold to a local private investor for $4,700,000, or approx. $800 per SF. The 5,800 SF building contains three retail 855 West Broadwayunits and over 5,000 SF of basement space.

The building was recently renovated and tenants include Cafe Artigiano and Uniform Central. A third space was being marketed for lease at $35.00 per SF net.

 

 

October 30, 2013by david.taylor@colliers.com
Investment

Chartwell Buys Retirement Residence in Mission

Chartwell Retirement Residences has acquired a 138-suite residence in Mission for $27 million, the real estate trust announced Monday.

Cedarbrooke Chateau, built in 2009 and 73 per cent occupied, is Chartwell’s second retirement residence in Mission, a Fraser Valley community with a population of about 34,500.

Chartwell says it expects “strong operational synergies” with the existing 126-suite Chartwell Carrington House Retirement Residence but didn’t provide details in its announcement.

“This acquisition is fully in line with our strategy to acquire newer, well-designed and well-located properties in our existing markets,” Brent Binions, Chartwell’s president and CEO, said in a statement.

Read more: http://www.vancouversun.com/business/Chartwell+real+estate+trust+buys+retirement+residence+Mission/9091680/story.html#ixzz2j20I4su0
October 28, 2013by david.taylor@colliers.com
Development, Office

North Vancouver City OK’s Office Block

There is a sizable new office block with a design not like any other on the North Shore coming to central Lonsdale.

City of North Vancouver council voted Monday night to approve a five-storey, 9,600-square-foot retail/office building on the corner of 12th Street and Lonsdale Avenue. The site is currently home to a convenience store, a Vietnamese restaurant, a pizza restaurant as well as a laundromat and hair salon.

12th and LonsdaleThe building’s facade is like most glass curtain wall designs used in office towers, except it is rotated 45 degrees and divided up into a mesh. The outer wall then curves outward and turns into an awning over the sidewalk.

The proposal exceeds the density allowed on the site, however council agreed to amend the official community plan because the building includes “employment generating space,” and because the developer is contributing $172,800 to the city’s community amenity fund.

Read more: http://www.nsnews.com/news/north-vancouver-city-ok-s-office-block-with-striking-design-1.668835#sthash.crKSabUK.dpuf

October 23, 2013by david.taylor@colliers.com
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