A two-storey retail building in North Vancouver’s Central Lonsdale neighbourhood has sold off-market for $6,700,000.

The multi-tenant building totals 7,121 SF on an 8,712 SF lot with 72.5 feet of frontage along Lonsdale Avenue, and includes underground parking for 23 vehicles. The property is zoned C-2 (General Commercial) and is home to Yaas Grill House on the downstairs unit. The upstairs unit previously leased to Boardroom was vacant at closing, with no word yet on future leasing plans for that space.

As an off-market transaction, the sale didn’t come with public marketing materials, but it adds another notable data point to Central Lonsdale’s retail corridor, where well-located, multi-tenant buildings continue to command strong per-square-foot pricing.

Sale Details

• Sale Price: $6,700,000
• Price per Square Foot: $941/SF
• Building Size: 7,121 SF
• Lot Size: 8,712 SF

A single-tenant net-lease property in East Vancouver has traded hands, with the BMO branch at 3290 Grandview Highway selling for $3,860,000.

The freestanding, 4,414 SF building sits on an 8,276 SF corner lot at the signalized intersection of Grandview Highway. BMO occupies the building under a triple-net lease running to January 31, 2030, with three five-year renewal options, generating in-place net operating income of roughly $135,100.

The vendor, 3290 Grandview Holdings Ltd., had purchased the property in August 2017 for $2,600,000 ($589/SF) — meaning per-square-foot value has climbed roughly 48% over the nine-year hold. Marcus & Millichap’s Joe Genest, Curtis Leonhardt, and Jon Buckley represented the transaction.

Beyond the passive institutional-covenant income stream, the site carries longer-term upside: it falls within the Rupert and Renfrew Station Area Plan, which permits privately-initiated rezoning for mixed-use redevelopment up to 45 storeys, subject to lot assembly with adjacent parcels given the property’s 8,996 SF (per marketing materials) to 8,276 SF (per registered title) lot size. The plan anticipates roughly 10,100 new homes and 8,000 jobs in the surrounding area over the next 25 years.

Sale Details

• Sale Price: $3,860,000
• Cap Rate: 3.5%
• Price per Square Foot: $874/SF
• Building Size: 4,414 SF
• Lot Size: 8,276 SF

A freestanding retail building at 6360 Kingsway in Burnaby’s Highgate area has sold for $3,250,000, after more than two years on the market.

The property was originally listed in June 2024 at $4,200,000 by Rimpy Hothi of Sutton Group-West Coast Realty, and was reduced several times before landing at a final asking price of $3,450,000. It ultimately sold roughly 6% below that last ask and about 23% below its original list price — a reminder that even well-located Kingsway retail buildings have faced real price discovery in this cycle.

The freestanding, commercial-mix building totals 5,320 SF (1,810 SF office, 3,510 SF retail) on a 6,884 SF lot with 69 feet of frontage, seven on-site parking spaces, and lane access to secured parking. Built in 1949, the property is currently leased to FedEx and Passion 1818 Sushi Kaya.

The vendor had originally purchased the property in May 2007 for $1,135,000 ($130/SF) — meaning the site’s price per square foot has climbed roughly 4.7x over the nearly two-decade hold, even after the recent price reductions.

The sale underscores continued investor appetite for well-located, multi-tenant retail buildings along Burnaby’s Kingsway/Highgate corridor, even for older, smaller-format assets — though the extended marketing period and price cuts point to more selective buyer behaviour at the higher end of asking prices.

Sale Details

• Sale Price: $3,250,000
• Price per Square Foot: $611/SF
• Building Size: 5,320 SF
• Lot Size: 6,882 SF

A streetfront retail building in Vancouver’s Kerrisdale Village has changed hands, with 2134 West 41st Avenue selling for $4,510,000.

The single-tenant retail property sits on a 3,354 SF lot (25′ x 134.15′) along West 41st Avenue, in the heart of Kerrisdale’s shopping and dining district between Maple and Larch Streets. The 2,648 SF building was fully leased to Tokyo Beauty, a Japanese homecare and cosmetics retailer, at the time of sale.

The property had been listed with an asking price of $4,888,000 by Marcus & Millichap’s Martin Moriarty, Mario Negris, and Tate Venier.

Kerrisdale continues to see steady investor interest in its low-rise, mixed-use commercial corridor, supported by the neighbourhood’s affluent demographics and status as a long-established Westside shopping destination.

Sale Details

• Sale Price: $4,510,000
• Price per Square Foot: $1,703/SF
• Building Size: 2,648 SF
• Lot Size: 3,354 SF

Asia Standard has submitted a development application for a 19-storey condo/social housing building at 1394 Robson Street, at the northwest corner of Robson and Broughton in the West End.

The site is the former location of the Robsonstrasse Hotel, acquired by Asia Standard in July 2018 for $24,780,000. The current proposal replaces the 5-storey office and retail scheme submitted for the site in 2018, which contemplated 14,771 SF of retail, 9,966 SF of office and a density of just 2.86 FSR under the site’s existing C-6 zoning. The new application takes the site to the full density contemplated by the West End Community Plan.

Details of the proposal include:

• 19 storeys, with a two-storey commercial podium and a residential tower above;
• 72 condo units and 15 social housing units;
• 14 studios, 26 one-bedrooms, 26 two-bedrooms and 6 three-bedrooms;
• Commercial at grade and on the second level;
• A total density of 8.75 FSR, of which 1.20 FSR is dedicated to commercial use;
• A residential tower plate of 4,024 SF, below the 5,500 SF maximum set by the West End Community Plan;
• Site frontages of 66 ft on Robson Street and 124 ft on Broughton Street;
• Three levels of underground parking with vehicular access from the lane.

Residential entry is oriented to Broughton Street, with the commercial frontage and market residential entrances addressing Robson. Indoor and outdoor amenity space is proposed on top of the podium and within the podium and tower plates.

The architectural approach is described as a contextual response to the site’s position between the low-rise, brick-and-wood character of the West End and the glass-and-steel edge of Coal Harbour — a single uninterrupted rectangular mass with a repeating modular facade grid, clad in brick. The precedent projects cited are 520 Fifth Avenue and 130 William in New York.

The 2018 purchase price for the site equates to $327 per buildable SF based on the current application.

The architect for the project is Arcadis.