Burnaby NewsLeader – Burnaby’s Station Square begins major transformation.

Back in the 1950s, Keith Beedie heard that a large piece of property, home to the Ford Motor Co. and Kelly Douglas, could be had for a price.

“They wanted $1 million for it. I thought, ‘are they crazy?'”

He never would have dreamed back then that one day he’d own a large piece of the property, and that the company he founded, Burnaby-based Beedie Development Group, would have a hand in its transformation.

The company, which until now had mainly been known for its industrial development projects, is now run by his son Ryan Beedie and is half-owner of Station Square shopping centre through its residential development division, Beedie Living.

Along with partner Anthem Properties, the developer is launching sales this weekend of condominium units in the first of five new towers slated for the major redevelopment.

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David Taylor of Colliers is pleased to have acted in the sale of 3744 Canada Way, a single-tenant retail building located on Canada Way near Boundary Road in Burnaby. The purchase price was $2,900,000. The property is occupied by a local retailer, Charlie’s Chocolate Factory.

A 4-storey walkup apartment building located at 6353 Royal Oak Avenue near Metrotown has sold for $4,930,000. The property was built in 1968 and contains 29 one and two bedroom units. The sale price equals $170,000 per unit, and a 4.4% cap rate. The building had been listed for sale at $4,980,000.