Reliance Properties has acquired The Pemberton Building, 744 West Hastings Street in Downtown Vancouver, B.C. The building is a 65,000 sq ft, 8-storey C-Class office building built in 1912.
The purchase price was $19,000,000, representing $291 per sq ft.
Ted Mildon and Derek May of Colliers acted on behalf of the Vendor and Purchaser in the transaction.
Simon Lim and David Taylor are pleased to have acted on behalf of the Vendor in the sale of 3900 & 3971 Bayview Street in Richmond, B.C.
The property comprises a newly constructed open-format retail centre on leasehold land on Steveston’s renowned waterfront. The property is fully leased and includes the adjacent parking lot. Riversong has a leasable area of 9,681 sq ft.
The purchase price was $3,300,000, representing $341 per sq ft. The cap rate was 7.5%.