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 recent survey of assessed values gives a glimpse at how the BC Assessment Authority is looking at commercial properties in Metro Vancouver in 2014.

Below is a random survey of various asset types in nine separate areas. The annual change in assessed values was derived from a random sample of five properties in each category. While this is by no means a scientific survey, it does show some variation that is interesting.

Chip Wilson, former CEO of Lululemon, has reportedly acquired 1770 West 7th Avenue, a 5-storey, 75,000 SF office building located at Burrard and West 7th. The building, built in 1985, was sold for $32,625,000, or $430 per SF.