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Investment, Retail

Sobey’s Ordered to Sell Two Metro Vancouver Stores

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

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

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.

 

October 23, 2013by david.taylor@colliers.com
Investment, Retail

Shoppers Drug Mart Buys Ambleside Location

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.

1583 Marine Dr.The 8,100 SF single-tenant retail building sold for $8,600,000, or $1,050 per SF.

October 16, 2013by david.taylor@colliers.com
Apartment, Development, Retail

Revised Oakridge Centre Proposal Moves Closer to Public Hearing

A revised rezoning application has been presented for Westbank and Ivanhoe Cambridge’s plan to rezone and redevelop the 28-acre Oakridge Centre property. This is expected to be the last round of formal open houses for the rezoning before the proposal heads to the Urban Design Panel and then on to Public Hearing.

Proposed changes from 2012 version:

oakridge_1Oakridge Height Changes

Oakridge Height Changes

Oakridge_retail

Aerial View Looking North
Entrance Promenade (41st and Cambie)
Centre Court

Looking west along West 41st Ave
Oakridge Community Commons View

October 4, 2013by david.taylor@colliers.com
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