Allied Properties REIT has sold 1220 Homer Street to a user group for $13,250,000, . The 4-storey, 19,384 SF heritage office building was originally built in 1947 but had been restored. The building was primarily vacant at the time of sale.
The sale price equates to $684/SF.
The building had originally been acquired in 2018 for $17,500,000, and a 3.40% cap rate.
1281 Broughton Street, a 31-unit building in the West End, has been sold by Reliance Properties to CAP REIT in a deal valued at $13,953,000, or $450,000 per unit.
The building is located on the Southwest corner of Broughton & Burnaby Street in the West End. The 8-storey concrete building was built in 1959 all all corner units with hardwood flooring. The building has laundry, storage, and some parking.
Details:
Lot size: 8,650 SF
| Unit Type | No. | Average Unit Size (Sq. Ft.) |
| One Bedroom | 27 | 727 |
| One Bedroom Penthouse | 1 | 915 |
| Two Bedroom | 2 | 910 |
| Two Bedroom Penthouse | 1 | 955 |
| Total | 31 |
The asking price for the property had been $15,900,000.
The property was listed and sold by CBRE.
Building rental listing “Twelve81”: https://www.capreit.ca/apartments-for-rent/vancouver-bc/the-twelve81/
Amacon has submitted their rezoning application for the former CIBC office property at West 7th and Pine in the Fairview/South Granville area of Vancouver.
The 57,000 SF site runs along Pine between West 7th and West 8th.
The proposal is to allow for the development of a 28-storey and a 29-storey towers, and includes:
This rezoning application is being considered under the Broadway Plan.
Our team originally sold this site in 2016 to Delta Land Development for $70,000,000. It was later resold to Amacon.
The architect for the project is Chris Dikeakos Architects Inc.
The full application can be viewed here: https://rezoning.vancouver.ca/applications/1745-w-8th-ave/application-booklet.pdf
A streetfront retail and office building on Main Street near East 28th Avenue in Vancouver has sold for $5,500,000 or $810 per SF. The property sits on a 66 x 100′ mid-block lot and was fully leased (with demo clauses) at the time of sale.
The building had been listed for sale for $5,600,000 and was sold by Dorset Realty.
A strata-titled retail and apartment building at 2023 West 4th Avenue has sold. The building contains 2 retail units and 8 residential units (five two-bedrooms and three one-bedrooms).
Property details:
The property was listed and sold by Lee & Associates. A brochure can be viewed here: https://leevancouver.com/wp-content/uploads/4th-Ave-W-2023-Lee-Investment-Sale.pdf