108 & 116 East Broadway, two retail buildings located on the South side of Broadway near Main Street, have sold for a combined $4,900,000, representing a cap rate of approximately 3.0%. The properties are zoned C-3A, and have a site area totaling 9,520 SF, equating to a price per buildable sq ft of $157.00.
The buildings are currently occupied by a thrift store and a mattress store. The purchaser was a local private investor. The property had been listed with Cushman Wakefield.
2210 Commercial Drive traded on June 4, 2012 and was purchased by a private investor for $386 per square foot.
Peninsula Crossing, a 6,455 SF strip retail centre located at 24th Avenue and 152nd Street in South Surrey has been sold by David Taylor and Simon Lim of Colliers. The purchase price was $3,450,000, representing $534 per sq ft, and approx. 5.0% cap rate. The purchaser was a local investor. The property was fully leased to national and local tenants, including 7-Eleven.
Contact us for more information regarding opportunities in this area.
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