YVR confirms designer outlet switch; new site adjacent to Canada Line station.

Vancouver Airport has decided to move its proposed designer outlet shopping centre into the shadow of a Canada Line station.

The facility, being built in conjunction with UK-based luxury outlet firm McArthurGlen, will now be situated next to the Templeton station on Sea Island.

YVR had originally planned to build the outlet centre off Russ Baker Way, next to BCIT and were still preparing the ground at the site as recently as two months ago.

3105-3139 Edgemont Boulevard in North Vancouver has sold for $11,526,175, representing $993 per sq ft and a 4.0% cap rate. The 11,600 SF building is located on the South side of Edgemont Village and includes such tenants as RBC, Starbucks and Cob’s Bread. The property includes 189 feet of frontage on Edgemont Boulevard and a site area of 17,500 SF. The purchaser is a local private equity group.

Peace Arch News – Morgan plan moves ahead.

A proposed commercial and office space development on a 25-acre parcel of property at 20 Avenue, just east of Highway 99 cleared an important hurdle last week, winning approval in the form of a unanimous third reading at a city public hearing (Couns. Mary Martin and Judy Villeneuve were absent, according to the city clerk’s record).

The $100 million Morgan Place Developments Ltd. project will include 25,953 sq. m (279,000 sq. ft.) of retail and restaurant uses and 9,662 sq. m (104,000 sq. ft.) of office space.

It will have 1,330 parking stalls, 676 of which will be underground.

Read more: http://www.peacearchnews.com/business/173751331.html

Ted Mildon, Matt Saunders and Drew Gilbertson are pleased to announce the sale of 2403 Main Street in Vancouver. The property consists of 8,000 square feet of retail on the main floor and 12 apartment units on the second floor. Colliers represented both purchaser and vendor in this transaction.

For more information on this sale please contact Ted Mildon.

Values for retail properties in East Vancouver have largely been driven by rents in increasingly populated areas such as Main Street, Commercial Drive and East Hastings Street. Properties with strong tenant covenants in East Vancouver should achieve strong valuations with cap rates even below 5.00%.