Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
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Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
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Development

Shape Looks to Rezone for first Brentwood Mall Tower

The first tower being proposed in the transformation of Brentwood mall could give Burnaby a big boost in rental housing.

“A total of 591 apartment units are proposed, 300 of which are intended to be purpose-built rental units to be owned and operated by the developer, Shape Properties Corp. and their funding partners,” said a city staff report.

Shape Properties, which owns the mall, has applied for a rezoning of the southwest corner of the 28-acre mall site to allow for a 53-storey tower on top of a three-storey commercial podium for which it earlier applied for a rezoning…

The first tower would be located atop the commercial podium at the corner of Willingdon Avenue and Halifax Street. The project would include two separate lobby areas complete with concierge services and elevators at ground level, with the rental lobby facing Willingdon and the strata lobby fronting onto Halifax.

The first floor of the tower, on top of the podium, would be a combined rental and strata amenity level, including a fitness facility, media and games rooms, lounge, kitchen and dining area and two guest suites.

From there, the first 25 floors will accommodate the rental units and the upper 27 levels will be designated for condominiums.

http://www.burnabynewsleader.com/news/242424331.html

January 29, 2014by david.taylor@colliers.com
Development

FOR SALE: Westside Development Site

526-548 W King Edward526, 536 & 548 King Ed Brochure

January 23, 2014by david.taylor@colliers.com
Development, Investment

Onni Acquires Gilmore Site in Burnaby

Onni announced via instagram today that they have acquired the 12.5 acre Gilmore Station area lands from Standard Life. The site, which is partially vacant, and partially occupied by industrial and office buildings, sold for a reported $110 Million.

Gilmore Lands

 

January 23, 2014by david.taylor@colliers.com
Investment, Office

New Westminster Aims to Sell Merchant Square in 2014

The City of New Westminster is optimistic it will sell Merchant Square, if this year’s budget is any indication.

Colleen Ponzini, the city’s manager of financial services, said the 2014 budget projects the sale of the Merchant Square officer tower that’s now under construction on Columbia Street. If the city doesn’t sell the office tower, she said the city would see a “significant increase” in bank charges related to the loan authorization bylaw.Merchant Square

“The plan is to have it sold, and we pay it back in this current year,” she told council at its Jan. 20 committee of the whole meeting.

According to Ponzini, the city will be incurring some new debt under the loan authorization bylaw. She said a good portion of the $570,000 debt would be for Anvil Centre and the office tower.

New Westminster city council received a staff report on the 2014 to 2018 financial plan, which includes the 2014 budget. The city is proposing a 1.28 per cent tax increase in 2014, which would rise to 2.59 per cent if a number of priority initiatives proposed by staff are included.

Read more: http://www.royalcityrecord.com/new-westminster-aims-to-sell-merchant-square-in-2014-1.795848#sthash.QG644KYy.dpuf

January 22, 2014by david.taylor@colliers.com
Apartment, Development

Rental Apartment Building Proposed for Oak Street

The owners of an papartment building on Oak have applied for a development application to redevelop an existing apartment property they own at 2975 Oak Street (at West 14th). The proposal is permitted under the existing RM-3A zoning, but required City approval. The plan includes:

  • Heritage designation of the existing structure
  • 50 market rental units
  • A total density of 2.8 FSR

2975 Oak St._22975 Oak St

January 22, 2014by david.taylor@colliers.com
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Greater Vancouver commercial real estate transactions down 8.3% in 2025 via @westerninvestor

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David Taylor Personal Real Estate Corporation

Colliers International

DT

David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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