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.
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:
The application is being considered under the Secured Market Rental (Rental 100) Policy.
The architect for the project is Barnett Dembek Architects Inc.
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:
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.