Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
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Apartment, Development, Retail

32-Unit Market Rental Building Planned for East Van Site

A rezoning application has been submitted for a site at 2735 E 41st Avenue in East Vancouver. The 14,382 SF C-1 zoned site is currently occupied by an older lowrise commercial building occupied by G&F Financial Group.

The proposal is to allow for the development of a 5-storey mixed use rental building under the Rental 100 policy. The proposal includes:

  • 32 market rental units;
  • 2 studios, 10 one-bedrooms, 14 two-bedrooms & 6 three-bedrooms;
  • 6,129 SF of retail space in 5 CRUs at grade;
  • A total density of 2.48 FSR;
  • A building height of 49 ft.;
  • 25 vehicle parking spaces and 80 bicycle parking spaces.

The application is being considered under the Secured Market Rental (Rental 100) Policy.

The architect for the project is Barnett Dembek Architects Inc.

December 5, 2020by david.taylor@colliers.com
Development, Office, Retail

Strata Industrial/Office Project Slated for SW Marine Site

A rezoning application has been submitted by Chard Development for a site at 750 SW Marine Drive, a block and a half West of Cambie Street. The I-2 zoned site is 18,100 SF in size and occupied by lowrise commercial buildings with tenants including Once a Tree Furniture.

The proposal is to allow for the development of an 8-storey building that includes office, light industrial and at-grade retail uses. The proposal includes:

  • 6,100 SF of retail space at grade;
  • 18,300 SF of light industrial space on levels 1 and 2;
  • 65,000 SF of office space on levels 3 to 7;
  • Amenity space on level 8;
  • A total density of 4.94 FSR;
  • A building height of 35 ft.;
  • 99 vehicle parking spaces and 62 bicycle parking spaces.

The application is being considered under the Marpole Community Plan and the Employment Lands & Economy Review Phase 2 Report.

The architect for the project is Proscenium Architecture & Interiors Inc.

December 3, 2020by david.taylor@colliers.com
Condo, Development, Retail

76 Condos Planned for Former Cambie Gas Station Site

Wesgroup has submitted a rezoning application for the former Chevron Station site that they own at the Southwest corner of Cambie & West 59th Avenue.

The 19,800 SF site at 7525 Cambie Street has been operating as a community garden since the gas station shut down a couple of years ago.

The rezoning proposal is to allow for the development of a 6-storey condo building with commercial uses at grade. Details include:

  • 76 condo units;
  • 5 studios, 42 one-bedrooms, 21 two-bedrooms & 8 three-bedrooms;
  • 7,895 SF of ground floor retail space;
  • A total density of 3.54 FSR;
  • A building height of 80.6 ft.;
  • 112 vehicle parking spaces and 160 bicycle parking spaces.

The application is being considered under the Cambie Corridor Plan.

The architect for the project is Yamamoto Architecture.

Wesgroup acquired the property in 2017 for $18,558,700, or $265 per buildable SF.

December 1, 2020by david.taylor@colliers.com
Condo, Development, Retail

32-Storey Condo Tower Proposed for Joyce Street

A rezoning application has been submitted for a site at 5163-5187 Joyce St. in the Joyce-Collingwood area of East Vancouver.

The proposal is to allow for the development of a 32-storey mixed use building with commercial use at grade and a proposed public library occupying the entire 2nd floor.

The proposal includes:

  • 293 condo units;
  • 177 one-bedrooms, 87 two-bedrooms & 29 three-bedrooms;
  • 5,200 SF of retail space;
  • 15,000 SF of 2nd floor library space;
  • A total density of 13.10 FSR;
  • A building height of 309 ft.;
  • 228 vehicle parking spaces and 588 bicycle parking spaces.

The application is being considered under the Joyce-Collingwood Station Precinct Plan.

The architect for the project is J + S Architect.

The site sold in 2017 for $38,000,000, or $164 per buildable SF based on the application.

November 13, 2020by david.taylor@colliers.com
Development, Investment, Retail

SOLD: 4575 Main Street, Vancouver

I am pleased to announce the sale of 4575 Main Street in Vancouver, a single tenant retail property with future development potential.

Our well-crafted marketing campaign launched in June 2020 was able to generate multiple offers and ultimately achieve a sale price over asking.

Please contact me to learn more about this sale.

November 4, 2020by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

Colliers International

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David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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