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 units 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.

As reported by CBC, the Competition Bureau has ordered Sobey’s Inc. to sell 23 stores in Western Canada before it will approve its $5.8-billion purchase of grocer Safeway Canada.

The Nova Scotia-based supermarket chain says it has agreed to put the supermarkets on the block and it expects to close the acquisition of the Canadian assets of Safeway in early November.

The two affected Metro Vancouver properties are:

Tsawwassen Safeway

Safeway Tsawwassen, 1143 56th Street, Tsawwassen

This is a 4.5 acre site in the heart of Tsawwassen’s commercial area. The property is zoned C-1. It is assessed at $11,977,000.

New Westminster Thrifty’s

Thrifty Foods Sapperton, 270 East Columbia Street, New Westminster

The Thrifty’s is located as part of Wesgroup’s Brewery District project and does not have redevelopment potential.

Shoppers Drug Mart successfully outbid any 3rd party investors and purchased a building they occupy at 1583 Marine Drive in West Vancouver. The property, which was acquired by the City of Vancouver through their involvement with Millennium Development in the Olympic Village deal, was offered for sale by tender earlier in June 2013.

The 8,100 SF single-tenant retail building sold for $8,600,000, or $1,050 per SF.