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

6-Storey Rental Building Proposed for 30 ft. East Vancouver Lot

A rezoning application has been submitted for a 30 ft. lot at the Northeast corner of Slocan and East 27th Avenue in East Vancouver.

The 3,372 SF site at 4310 Slocan Street is currently a martial
arts center owned by the applicant. The lot sits directly adjacent a 4-storey, 41-unit rental building called The Beacon, that was completed in 2017.

The proposal is to allow for the development of a 5-storey (plus amenity level) rental project that includes:

  • 8 secured market rental units;
  • 2 studios, 2 on-bedrooms, 3 two-bedrooms & 1 three-bedroom;
  • 1,600 SF of retail space at grade;
  • A total density of 2.83 FSR;
  • A building height of 62.3 ft.;
  • 3 surface parking lots at the lane.

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

The architect for the project is Matthew Cheng.

December 16, 2020by david.taylor@colliers.com
Investment, Retail

Delta Shoppers Mall Sells in $34.3 Million Deal

Artis REIT has sold Delta Shoppers Mall as part of its asset disposition program, part of a strategy to improve the REIT’s growth profile and strengthen its balance sheet. The property is located at 8037 120 Street, Delta, B.C.

The 74,669 SF retail property sold to a private investor for $34.3 million, which represents a capitalization rate of 5.2% and $460 per SF.

Retail anchors for the shopping centre include: TD Canada Trust, A&B Sound, JYSK Furniture.

December 12, 2020by david.taylor@colliers.com
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
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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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