Two adjoining retail/office buildings at the corner of West 4th and Fir have sold for a reported $2,900,000. The buildings total 6,180 square feet, and include tenants such as The Right Shoe and Paris Orthotics.

In a $5.8-billion deal that will reshape Canada’s grocery industry, Sobeys Inc. is buying Safeway Inc.’s Canadian division to beef up its western business and take on intensifying competition.

The deal, announced late Wednesday, will solidify Sobeys’ position as the country’s second-largest grocer and put pressure on Loblaw Cos. Ltd., the leading player in the sector, which has struggled to make gains over the past several years.

“The acquisition of Canada Safeway represents an excellent strategic fit, strengthening our presence in Western Canada,” said Paul Sobey, chief executive officer of Sobeys‘ parent company Empire Co. Ltd.

The agreement comes at a time of growing competition in food retailing as discount giant Wal-Mart Canada Corp. rapidly adds more grocery aisles to its stores and U.S. rival Target Corp. opens its first outlets in this country, raising the competitive stakes for everyone.

Read more: http://www.theglobeandmail.com/report-on-business/sobeys-to-buy-safeway-in-58-billion-deal/article12499648/

A rezoning proposal has been put forward to develop a phased commercial development at 2020 Boundary Road, a site the Northeast corner of Lougheed and Boundary Road in Burnaby. Translink sold the site last year to the Open Road Auto Group for $19.2 Million.

The development will consist of:

• two or three high-end auto dealerships
• a 4-storey fully enclosed glass structured car parkade
• an 8-storey, 85,000 SF office building with underground parking and grade level retail uses
• a total density of 0.77 FAR

The auto dealerships are proposed to be the first phase of the development, with the commercial uses later.

238 Fell Avenue, a 2-storey retail and office complex on the East side of Fell Avenue in North Vancouver has sold for $2,300,000. The building is a total of 7,232 SF in size, representing $318 per SF. The building had been listed for $2,600,000.

New Westminster News Leader – Small-sized Walmart for RCC: Mayor.

Walmart will be the new anchor tenant at the Royal City Centre according to New Westminster Mayor Wayne Wright.

The mayor dropped the tidbit during a state-of-the-city address to a chamber of commerce luncheon at the Columbia Theatre on Wednesday. Wright said it would be one of the chain’s smaller outlets.

Earlier this year, the Royal City Centre applied for a development permit to build an atrium-style entrance off Sixth Avenue to service a new anchor tenant in the space vacated by Zeller’s in 2006.

Wright also revealed he is in discussions with an Indy-style kart racing circuit to run an electric kart race through Downtown New Westminster. The karts, he said, would race up Columbia onto Sixth Street, down Clarkson Street and circle back to Columbia via Begbie Street.

Read more: http://www.newwestnewsleader.com/news/207619701.html