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.

2303 – 2305 West 41st Avenue in Kerrisdale has sold. The two-storey retail and office building sold for $7,400,000. With 10,600 sq ft of rentable area, the price per SF was $698.

Located mid-block on the East side of Main Street one block North Of King Edward Avenue, this 5,000 square foot redevelopment site is currently improved with a 2,400 square foot, two tenant retail building.

The property was sold in late April 2012 by Ted Mildon and Matt Saunders.

Colliers has acted on behalf of the Vendor in the sale of 3880 Oak Street, a 6,177 sq ft strip retail centre at Oak and West 23rd in Vancouver. The property is fully leased to Rackets & Runners, Subway and several local tenants. The centre is zoned C-2 and has long-term redevelopment potential. The purchase price was $4,686,000, or $759 per SF.

Simon Lim and David Taylor are pleased to have acted on behalf of the Vendor in the sale of 3900 & 3971 Bayview Street in Richmond, B.C.

The property comprises a newly constructed open-format retail centre on leasehold land on Steveston’s renowned waterfront. The property is fully leased and includes the adjacent parking lot. Riversong has a leasable area of 9,681 sq ft.

The purchase price was $3,300,000, representing $341 per sq ft. The cap rate was 7.5%.