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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, Office

Light Industrial/Office Development Proposed for Big Bend Area of Burnaby

A rezoning application has been submitted for a 7.8 acre site located at 8601 Glenlyon Parkway at Marine Way. The vacant site is proposed for a 2-storey 122,000 SF warehouse and office facility, with a floor area breakdown as follows:

  • Office: 30,910 SF
  • Manufacturing: 7,933 SF
  • Warehousing: 72,667 SF
  • Commercial: 7,700 SF
  • Restaurant: 2,710 SF

8601 Glenlyon

January 29, 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
Development

Another 300 Units Coming to Metrotown

A few older apartment buildings from the 1950s and 1960s could be replaced with a shiny new redevelopment in the Metrotown area.

The proposed 38-storey apartment tower with street fronting townhouses on Nelson Avenue and Dunblane Avenue and underground parking will go to a public hearing on Jan. 28, 2014.

The site includes 6616, 6642 and 6668 Nelson Ave. and 6635 Dunblane Ave., which currently have a single-family dwelling and older apartment buildings ranging from two to three storeys. The site is also in the heart of other new developments, including the 35-storey apartment building being constructed north of the proposed project.

“The development form has a strong street orientation on the site’s public frontages as well as a strong contextual relationship to the surrounding existing high and lowrise apartment developments,” states Lou Pelletier, director of planning and building, in his report.

A total of 304 units are proposed, ranging from 470 square feet to 1,686 sq. ft.

Read more: http://www.burnabynow.com/news/another-300-units-coming-to-metrotown-1.753554#sthash.snWI6yji.dpuf

December 17, 2013by david.taylor@colliers.com
Development

Massive Edmonds Project Goes to Public Hearing

Although the deals offered at the Value Village in Edmonds will surely be missed, its replacement proposes to be a new community hub.

The rezoning application for a mixed-use development with three highrise residential towers, an office building, two-storey retail podium and underground parking in the Highgate area is headed to public hearing on Jan. 28, 2014.

The proposed redevelopment, at 7350 Edmonds Street and 7338 Kingsway Avenue, was first brought to council’s attention in July 2012. A Value Village and a multi-tenant building currently sit on the site.

value-village-redevelopment-burnaby

“We are excited to build a landmark project that will add to the growth of the neighbourhood,” Michael Sengara, development coordinator with Cressey Development Group, told the Burnaby NOW. “This particular corner of Kingsway and Edmonds is a prominent one, and the office building on the corner is a reflection of that.”

IBI/HB Architects put forward the rezoning application on behalf of the developer, Cressey Development Group.

Read more: http://www.burnabynow.com/news/massive-edmonds-project-goes-to-public-hearing-1.753477#sthash.v228QMtZ.dpuf

December 11, 2013by david.taylor@colliers.com
Development

Market Spotlight: Burnaby Rezoning Updates

Here is a list of rezoning applications headed for Burnaby City Council’s consideration on Monday:

Phase 1 of Brentwood Town Centre Project

Brentwood Phase 1The first phase of the Brentwood Town Centre redevelopment by Shape Properties is seeking to move forward to first reading and public hearing next month. Phase 1 includes development of a new externally oriented commercial shopping centre, public plaza and high street within the 8-acre southwest quadrant. It includes:

  • 546,820 SF of new commercial space in 2-4 storey buildings
  • Density of 1.56 FAR
  • Central civic plaza

Phase 2 of Station Square

Station Square Phase 2The second phase of the Station Square redevelopment by Anthem Properties is seeking to move forward to first reading and public hearing next month. The first phase is now substantially sold out and under construction. Phase 2 includes development the next two towers atop a low-rise retail and office podium on the Eastern portion of the site. It includes:

  • two towers – one 38-storeys and one 48-storeys
  • 768 total units
  • a total density of 5.34 FAR
  • 97,343 SF of new commercial space

Canada Way and Claude Avenue

Canada Way and ClaudeThe owners of this 4.6 acre site have filed a rezoning application for a 132 unit stacked-townhouse development with underground parking to a total density of 0.9 FAR.

 

 

 

October 28, 2013by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

Colliers International

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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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