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.

2303 – 2305 West 41st Avenue in Kerrisdale has sold. The two-storey retail and office building sold for $7,400,000. With 10,600 sq ft of rentable area, the price per SF was $698.

Located mid-block on the East side of Main Street one block North Of King Edward Avenue, this 5,000 square foot redevelopment site is currently improved with a 2,400 square foot, two tenant retail building.

The property was sold in late April 2012 by Ted Mildon and Matt Saunders.