A two-storey retail and office plaza at Burrard and West 3rd has sold. The site at 1855 Burrard Street is 12,311 SF and designated within the Broadway Plan for up to 20-storeys, 6.50 FSR.

The existing building is 9,756 SF and was built in 1988. Tenants include Waypoint Insurance and a Sushi restaurant. It includes 24 parking stalls.

Details of the sale:

• Purchase Price: $10,700,000
• Cap Rate: 3.7%
• Price per SF: $1,096 per SF
• Price per buildable SF: $134 (based on 6.50 FSR)

The building was listed and sold by Avison Young: https://d3k1yame0apvip.cloudfront.net/v2/client-10/082c2f525f5d6da/BurrardSt1855_WEB.pdf

This property sold previously in 2015 for $15,000,000 and then re-traded in 2018 for $25,000,000.

Starlight has announced the acquisition of Villa Esto, an 83-unit, 10-storey concrete rental apartment building located at 1175 Haro Street in the West End of Downtown Vancouver.

Details of the transaction:

• Purchase Price: $33,100,000
• Price per Unit: $399,000

The property was listed and sold by Colliers VIDA team: https://www.collierscanada.com/en-ca/properties/sold-83-unit-rental-apartment-building-in-vancouvers-west-end/can-1175-haro-street-vancouver-bc/can2018225

We are pleased to introduce this 44,111 SF pre-assembled development site on 104A Avenue in the Guildford area of Surrey.

Situated within walking distance of Hawthorne Park, rapid transit options, and Guildford Town Centre, the site is ideally positioned to support the development of 154-unit, 6-storey condo project in a highly sought-after location.

For further information: Land For Sale — 14447, 14445, 14465 & 14475 104A Avenue, Surrey | Canada | Colliers

Equiton Living has completed on the acquisition of Mountain Park Residences (formerly Oceana Court), a 117-unit lowrise apartment complex on a 2.7 acre site at 7070 Inlet Drive, at the base of Burnaby Mountain.

Details:

• Purchase Price: $46,625,000
• Cap Rate: 4.4%
• Price per unit: $390,000
• Year Built: 1967

The property was listed and sold by Cushman Wakefield: https://www.cwinvestmentproperties.com/listings/7070-inlet-drive-oceana-court-burnaby-bc-66/

OpenRoad Auto Group has submitted an application to the City of Surrey for a new auto mall in the Newton area of Surrey.

The site currently contains a large distribution warehouse and surface parking and loading areas. Significant portions of the site have been cleared but not yet developed. The site is located on 76 Avenue, two blocks West of King George Boulevard.

The plan for the site includes a new auto mall, including:

• Six bare-land strata lots;
• Five dealership buildings and one retail building;
• 1,044 parking stalls
• 0.24 FAR density

Full rezoning report: https://www.surrey.ca/sites/default/files/planning-reports/PLR_7925-0301-00.pdf