Peace Arch News – Superstore site takes shape.

Public curiosity runs high as site clearing continues for the newest addition to Grandview Corners’ urbanized landscape – a planned Superstore and gas bar on the southeast corner of 24 Avenue and 160 Street in South Surrey.

Ontario-based Loblaw Companies Ltd. started work last month following approval of building permits for a 122,692-square-foot Real Canadian Superstore, plus gas bar and convenience store.

Timeline for completion of the project has not been announced by Loblaw, and project spokespeople were not available by Peace Arch News’ press time Monday.

The project has been in the works since 2005 when Loblaw first received zoning for the 20-acre site, which faces the Wal-Mart across 160 Street.

Read more: http://www.peacearchnews.com/business/201121561.html

After nearly 6 months on the market, 2999 Grandview Highway, a retail property fully leased to the Brick, has sold for $11,675,000, representing $330 per sq ft., and a 5.5% cap rate. The Brick occupies 35,000 SF on a long-term lease with options.The property is 1.45 acres and zoned CD for retail use. It is located on the North side of Grandview Highway near Renfrew Street.

An interesting article on some of the pioneers of the REIT world.  REITs have become like daytime talk shows, new ones pop up every week and for any sort of real estate asset class. 

Cohen & Steers Looking Beyond REITs and Real Estate.