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

Plan for Burritt Bros Site Includes 45 Rental Units

Landa Global has submitted their development application for the Burritt Bros site at Main Street and 20th in East Vancouver. Landa acquired the site at 3594 Main Street in a bid process in September 2015, for $11,400,000. Landa was featured in the Globe and Mail at the time of sale.

The plans for the 16,963 SF, C-2 zoned site includes:

    • a 4-storey building
    • 6,275 SF of ground floor retail
    • 45 rental apartment units
    • “high percentage” of family-friendly two-bedroom units
    • 2.5 FSR density
    • one level of underground parking with access from the lane

3594-main3594-main_1The architect for the project is Yamamoto Architecture.

September 9, 2016by david.taylor@colliers.com
Development, Retail

4-Storey Building Proposed for Kingsway

A development application has been filed with the City of Vancouver for permission to develop a 5,829 SF site at the corner of Kingsway and Welwyn St. in East Vancouver. The site is currently improved with an older single-storey retail building. The proposed project includes:

    • a 4-storey, mixed-use development with 11 dwelling units and commercial units at grade;
    • total density of 2.48 FSR
    • one level of underground parking with 12 stalls.

1690 Kingsway_3 1690 Kingsway1690 Kingsway_1 1690 Kingsway_2

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 Anyone Architecture. The development application can be viewed here: http://development.vancouver.ca/pc1690kingsway/index.htm

August 3, 2016by david.taylor@colliers.com
Development, Retail

Pacific Centre Expansion to Include 31,600 SF of New Space

Cadillac Fairview has applied to the City of Vancouver for permission to replace the existing rotunda at Pacific Centre with a new three-storey retail building consisting of:

    • 31,603 sq. ft. of new retail space; and
    • a peak height of 63 ft.

Under the site’s existing CD-1 (455) zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

701 West Georgia_2

701 West Georgia_1 701 West Georgia

The application describes the design rationale:

“Cadillac Fairview has embarked on multi-phase refresh and updating of the Pacific Centre Mall complex, creating a world class high-end retail centre in the heart of Vancouver. With the introduction of Holt Renfrew a number of years ago and its current expansion, the recently retrofitted Sears building into a new Nordstrom’s and now the reimagining of the Rotunda pavilion at Georgia and Howe. In keeping with the recent developments throughout the Pacific Centre complex, the new Georgia street retail pavilion comprises a similar family of strong timeless design moves. The new Pacific Centre, Georgia street pavilion will feature a strong and expressive roof line, a clear reading of the buildings massing elements and a restrained palate of high quality materials.
The building form consists of glazed retail frontages along Georgia and Howe Streets, Six retail ‘Lanterns’ at the second floor along Georgia Street connect the upper retail to the street and an outdoor restaurant deck at the third floor with a large cantilevered timber canopy overlooking Georgia street and a redeveloped VAG north plaza. The very visible roof-scape will use the strong geometric grid of raised planters and skylights which reflect the geometry of the building façades.
The presence of the six retail ‘Lanterns’ is intended to make more legible, to the surrounding urban environment, the social and transactional nature of the new pavilion’s intended use. Key to this design is the use of high quality cladding materials, dark stone, timber soffits, glass retail fronts and vertical screening.”
701 West Georgia_3

Perkins + Will Architects Canada are the architect for the project.

August 3, 2016by david.taylor@colliers.com
Investment, Retail

SOLD: 3183 Edgemont Boulevard, North Vancouver

I am pleased to announce the sale of 3183 Edgemont Boulevard, North Vancouver, B.C. This 1,500 SF freestanding streetfront retail building has been part of Edgemont Village for over sixty years and is leased to local tenants. The property sold for $2,050,000.

3183 Edgemont_SOLD BRO3183 Edgemont Brochure

July 20, 2016by david.taylor@colliers.com
Apartment, Development, Retail

Mixed-Use Building Proposed for Commercial Drive

A development application has been filed for a site at 928 Commercial Drive, mid-block just South of Venables Street. The plan for the 33 x 121 ft site is to build a new infill building including:

  • a 5-storey, mixed use building
  • retail on first floor and residential above (2nd to 5th floors)
  • 12 rental aparment units
  • 3 parking spaces having vehicular access from the lane.

Under the site’s existing C-2C1 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

928 Commercial

The architect, Matthew Cheng, explains the design rationale:

“The existing building on the subject property is a single family building built in 1904. In order to improve the neighborhood in Grandview-Woodland community and provide more affordable residential units, a brand new 5-storey mix-use building is proposed to replace the existing single detached dwelling. The new building with rental units will not only improve the 900 block Commercial Drive streetscape but also ease the tough rental market in the “Drive area”.
The proposed new building is designed as a wood frame building with a concrete ground / second level. Residential units are location on level three to five. There are 2 compacted unit types provided, studio and one-bedroom, in order to introduce more affordable rental option for the demographic in the neighborhood., Bicycle room, coin laundry room and other residential services are location on the ground and second level. Elevator is provided so that residents and handicap people can access to every level easily.”
928 Commercial_2 928 Commercial_1
June 22, 2016by 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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