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.
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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Market Research

MARKET SPOTLIGHT: Concrete Condo Resales Prices

Here is a snapshot of pricing for resales of concrete condos in Vancouver’s submarkets over the past two years. It shows moderate price gains in most areas, with those more pronounced gains in Burnaby and North Vancouver as a result of newly completed projects which saw some resales upon completion.

Concrete Condo Sales_PPSF_March 2014

The analysis used only condos built since 1999 and concrete construction. Surrey was the only submarket without any price growth since 2012.

March 20, 2014by david.taylor@colliers.com
Development

Low-rise Condo Project Eyed for Royal Oak and Imperial

A four-storey condo project is proposed for a long-vacant site at the southeast corner of Imperial Street and Royal Oak Avenue.

The site is made up 6808 and 6826 Royal Oak Ave and 5250 Imperial St. The proposal is for a mixed-use development with ground-floor commercial space and parking underground.

Rezoning for an earlier proposal was given third reading by council in 2008 but the owner has since revised the plan, making a new process necessary.

The current proposal is for commercial on both Imperial and Royal Oak with 45 apartment units on the three upper floors.

The units will comprise 15 one-bedrooms, 10 two-bedrooms, 17 two-bedrooms-plus-den units and three three-bedrooms-plus-den units.

Read more: http://www.burnabynewsleader.com/news/247098061.html

February 27, 2014by david.taylor@colliers.com
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
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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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