I am pleased to have acted on behalf of the Vendor and Purchaser in the sale of 3060 Edgemont Village. The property is fully leased to the Bank of Montreal on a long-term basis.
A retail property with redevelopment potential located on Kingsway in Vancouver’s Norquay Village area has sold for $8,580,000. The 13,750 SF strip plaza is leased to mostly local tenants. The 26,936 SF site is zoned C-2. On a land basis, the site sold for $127 per buildable SF.
A controversial piece of property in central Coquitlam that’s sat vacant for years will get a new lease on life, in a move that was widely opposed at a public hearing Monday.The property is located at 1649 Como Lake Ave., directly west of the Chevron station at the intersection with Poirier Street.
The proponent, represented by Tideway Developments, wants to consolidate two lots at 1649 and 1665 Como Lake Ave. to make way for a one-storey, 6,600-square-foot development encompassing four businesses.
What those businesses will look like remains unclear, as the developers are still seeking interested parties. The city’s zoning policy allows only for businesses like a grocery store, specialty food retailer, flower shop or seasonal Christmas tree stand.
The rezoning was endorsed unanimously, despite a handful of residents at the public hearing citing concerns around increased traffic, crime and vandalism, a loss of property values, and the belief that commercial units don’t belong in the neighbourhood.
Read more: http://www.thenownews.com/news/long-vacant-lot-in-coquitlam-to-be-redeveloped-1.1077604
Lougheed Town Centre has long been one of the quietest of Burnaby’s four town centres. Not in terms of traffic, of course. The intersection of Lougheed Highway and North Road has always been busy. But while Metrotown has boomed, and the neighbourhoods of Brentwood and Edmonds have seen a flurry of new development over the years, the Lougheed area has been comparatively stagnant.
Since opening in 1969, the mall has evolved over the years. It doubled in size in 1986, and underwent significant renovations about a decade ago. But now big plans are in the works. The area is poised for a massive makeover.
Shape Properties Corporation owns the mall property, and recently purchased four more properties in the town centre.
To prepare the ground for redevelopment, the city is embarking on a planning process for the entire 61-acre “Lougheed Core Area” that includes the wedge from Cameron Street in the north all the way down to the Lougheed-North Road intersection.
And like the plans for Brentwood Town Centre, which Shape also owns, the city and the company hope to gradually transform the site from suburban, car-oriented shopping centre to urban, transit and pedestrian-oriented town centre.
Read more: http://www.burnabynewsleader.com/news/254758551.html
4253-4273 Dunbar Street has sold for $8,010,000 to Dayhu Investments. The 12,870 SF C-2 zoned property on the Westside of Dunbar was listed by Colliers in late 2013 by unpriced bid process. There are existing tenancies in place, but the property has long-term redevelopment potential.
