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.
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First Capital Realty has announced the acquisition of The Plaza at New Westminster. The property consists of 194,000 square feet of gross leaseable area and a 422 stall paid parking garage. The project is fully integrated with Skytrain and a bus terminal. Tenants include Safeway, Landmark Theatres, Shoppers Drug Mart, Dollar Tree, CIBC, RBC, Starbucks and A&W.
The acquisition price was approximately $100 million with the potential for furhter performance incentives.