The Vij’s Restaurant property on Cambie Street has sold. The single tenant retail property had been on the market for several months and sold to a local investor.

Details:

• Single tenant: Vij’s
• Triple net lease
• Lease expiry 2030 w/renewal options
• 6,879 SF rentable
• 4,937 SF site
• $7,450,000
• 5.60% cap rate
• $1,083/SF

The building was listed and sold by Brett Aura of TRG. The original asking price was $7,988,000.

Allied Properties REIT has announced the completion of the remaining 50% interest in M4 of Main Alley Campus in Mount Pleasant from Westbank.

Details:

• Building Size: 208,000 SF (167,000 SF office, 38,000 SF industrial)
• Year Built: 2025
• 50% Interest
• Purchase Price: $89,700,000
• $863/SF

The sale was negotiated in July and completed September 30.

Sightline Properties has submitted their rezoning application for a 26-lot land assembly that they acquired earlier this year.

The 3.1 acre combined site is located within the Rupert Renfrew Plan area, and is bound by Kaslo Street, Renfrew Street, Broadway and 10th Avenue.

The proposal is to allow for the development of four residential towers, containing condos, rentals and below market rentals, as well as retail and daycare space.

Details include:

• 1,959 residential units; with
• 1,386 condo units;
• 573 rental units with 20% of the floor area for below-market units;
• Commercial space, a 73-space private child care, and amenities on the ground floor;
• a total density of 10.5 FSR; and
• Building heights ranging from 537 ft. to 618 ft..

The plan is for a four phase development with a tower in each phase.

This application is being considered under the Rupert Renfrew Station Area Plan.

The architect for the project is Arcadis.

The full application can be viewed here: https://www.shapeyourcity.ca/2808-2888-e-broadway

Amacon has submitted their rezoning application for the former CIBC office property at West 7th and Pine in the Fairview/South Granville area of Vancouver.

The 57,000 SF site runs along Pine between West 7th and West 8th.

The proposal is to allow for the development of a 28-storey and a 29-storey towers, and includes:

• 421 condo units;
• 107 social housing units;
• Live-work space;
• a 50-space childcare;
• a total density of 8.50 FSR;
• four levels of underground parking;
• Building heights up to 300 ft.

This rezoning application is being considered under the Broadway Plan.

Our team originally sold this site in 2016 to Delta Land Development for $70,000,000. It was later resold to Amacon.

The architect for the project is Chris Dikeakos Architects Inc.

The full application can be viewed here: https://rezoning.vancouver.ca/applications/1745-w-8th-ave/application-booklet.pdf

A strata-titled retail and apartment building at 2023 West 4th Avenue has sold. The building contains 2 retail units and 8 residential units (five two-bedrooms and three one-bedrooms).

Property details:

• Type: Streetfront multi-tenant retail and apartment
• Retail tenants: Brier Home Decor, Blue Sky Clothing
• Building Size: 10,435 SF
• Lot Area: 5,543 SF
• Year Built: 1998
• Price: $6,100,000
• Cap Rate: 5.6%

The property was listed and sold by Lee & Associates. A brochure can be viewed here: https://leevancouver.com/wp-content/uploads/4th-Ave-W-2023-Lee-Investment-Sale.pdf