First Capital Realty has announced the acquisition of The Plaza at New Westminster. The property consists of 194,000 square feet of gross leaseable area and a 422 stall paid parking garage. The project is fully integrated with Skytrain and a bus terminal. Tenants include Safeway, Landmark Theatres, Shoppers Drug Mart, Dollar Tree, CIBC, RBC, Starbucks and A&W.
The acquisition price was approximately $100 million with the potential for furhter performance incentives.
Vancouver’s downtown Bay store to get a major facelift.
VANCOUVER — Downtown Vancouver’s iconic Hudson’s Bay Co. store will undergo a multimillion-dollar facelift inside and out beginning this spring in a bid by the U.S.-owner retailer to become the city’s fashion headquarters.
“It’s going to be absolutely beautiful, world-class,” said Bonnie Brooks, HBC president, of planned renovations to the 86-year-old structure at the intersection of Granville and Georgia Streets.