A streetfront retail property in the Connaught Heights area of New Westminster has sold for $5,000,000. The property is fully leased to ten local retail tenants.

Property Details:

• Type: Streetfront multi-tenant retail
• Building Size: 10,478 SF
• Lot Area: 16,113 SF
• Year Built: 1919
• Cap Rate: 5.3%

The property includes 18 parking stalls. It had been listed for $6,500,000.

The property was listed and sold by Cody Davis of Jovi Realty.

For further information: https://www.collierscanada.com/en-ca/properties/for-sale-fully-leased-retail-and-apartment-building-on-kingsway-new-pricing/can-3155-kingsway-vancouver-bc/can2016373

We are pleased to re-introduce Westwood Square, an 18,000 SF retail and office property located on Westwood Street in Port Coquitlam. The asking price has been reduced from $9,800,000 to $7,850,000, representing a 5.5% cap on stabilized income.

Please click here, contact us for further information or to access the data room.

A freestanding CIBC on No. 5 Road in the Ironwood area of south Richmond has sold for $7,398,000, or $1,468 per SF.

Property Details:

• Type: Single Tenant Retail
• Tenant: CIBC
• Lease Expiry: 2029 (3 x 5yr options)
• Building Size: 5,041 SF
• Lot Area: 20,021 SF
• Year Built: 2014
• Cap Rate: 3.9%

The property includes 23 parking stalls and a drive thru ATM. It had been listed for $7,850,000.

The property was listed and sold by Allon Shapiro and Angus Tone of CBRE.

A development application has been submitted for the Telus utility property at the Southwest corner of West 41st Ave and Maple Street in Kerrisdale.

The application for 2008 West 41st Ave envisions the construction of a new 6-storey rental residential building on this site, along with a new one-storey utility building on the 27,000 SF, C-2 zoned property.

Details include:

• 118 market rental units;
• 11,500 SF of ground floor retail space;
• a total density of 3.70 FSR;
• a building height of 79 ft.
• Two levels of underground parking with vehicular access off the lane.

Under the site’s existing C-2 zoning, the application is “conditional” so it may be permitted. However, it requires the decision of the Director of Planning.

The architect for the project is Yamamoto Architecture.

The application can be viewed here: https://www.shapeyourcity.ca/2008-w-41-ave