Retail Archives - Page 85 of 100

Development, Retail

Richmond Walmart Gets Green Light

After almost three hours of impassioned pleas begging city council to say no; it said yes, gifting to Richmond in the process its first ever Walmart.

At a packed out, standing room only public hearing at city hall council chambers, city council, by a majority 6-2 vote, approved SmartCentres’ controversial $150 million, ten-year-old proposal for a 14-acre outdoor shopping centre – anchored by U.S. retail giant Walmart.

Councillors Harold Steves and Chak Au were the only two to vote against the West Cambie plan – bound by Alderbridge Way, Garden City, Alexandra and No. 4 roads.

Before the plan was approved, veteran Steves went as far to brand the development the “worst or second worst” the city has ever been involved with.

However, although many in the audience had nothing but condemnation for the proposal – traffic concerns, loss of green space and views, environmental damage and dislike of Walmart topped the list – there was a surprising throng of approval for the project.

November 19, 2013 by david.taylor@colliers.com

Development, Office, Retail

Richmond Mulls Trade Centre Project

The so-called International Trade Centre at Versante could bring 214,008 square feet of new commercial, hotel and office space to North Richmond, according to a report presented Tuesday at city hall.

Marketed as “Richmond’s next epicentre of business,” the proposed development consists of three towers—nine, 12 and 14 storeys—and a common five-storey podium. Included in the project is a 110-room hotel.

The proposal comes from Hotel Versante Ltd., which is seeking to rezone a 0.7-hectare (1.6-acre) triangular site at 8451 Bridgeport Rd. to build it. City council’s planning committee considered the project this week, 14 years after council approved a previous rezoning application that’s now being abandoned.

The site is located in Bridgeport Village, near the Airport Connector Bridge and next to Duck Island, where a multi-phase development of retail, entertainment, office, hotel and conference uses is in the early planning stages.

November 7, 2013 by david.taylor@colliers.com

Investment, Retail

3108 Highland Boulevard, North Vancouver, Sold

3108 Highland Boulevard, a 2-storey retail building in Edgemont Village has sold for $2,475,000. The building is at a prime corner in the village and is located on a 2,700 SF lot.

November 5, 2013 by david.taylor@colliers.com

Investment, Retail

851-855 West Broadway, Sold

A single-storey retail building at 851-855 West Broadway has sold to a local private investor for $4,700,000, or approx. $800 per SF. The 5,800 SF building contains three retail units and over 5,000 SF of basement space.

The building was recently renovated and tenants include Cafe Artigiano and Uniform Central. A third space was being marketed for lease at $35.00 per SF net.

October 30, 2013 by david.taylor@colliers.com

Investment, Retail

Sobey’s Ordered to Sell Two Metro Vancouver Stores

As reported by CBC, the Competition Bureau has ordered Sobey’s Inc. to sell 23 stores in Western Canada before it will approve its $5.8-billion purchase of grocer Safeway Canada.

The Nova Scotia-based supermarket chain says it has agreed to put the supermarkets on the block and it expects to close the acquisition of the Canadian assets of Safeway in early November.

The two affected Metro Vancouver properties are: