Vancouver Commercial Real Estate A Vancouver Real Estate Blog

28Jul/100

Recent Sale: 998 Thurlow Street, Vancouver

The Washington Court apartment building on the corner of Thurlow and Nelson Street in Downtown Vancouver was recently sold by RE/MAX Jake Moldowan. The property is measures 8,646 sf and is improved with a 44-unit, 5-Storey plus Basement apartment building which is approximately 91 years old. The building is well-maintained, and sold for $12,100,000, representing a price per unit of $275,000 and has an assessed value of $8,864,667.

21Jul/100

Recent Sale: Northwest Hardwoods Site, Delta

John Boer of Colliers has recently brokered the sale of the Northwest Hardwoods Site located at 6939, 7150 Tilbuy Road, and 7505 Hopcott Road in Delta. The sale comes after the closing of the Northwest Hardwoods Mill in early 2009 by Weyerhauser. The site sold for $15,000,000, and has a total area of 27.05 acres, with approximately 4.25 acres of dedicated easement land for a net area of 22.8 acres. This represents a price per acre of $657,895.

6939, 7150 Tilbury Road & 7505 Hopcott Road Brochure

13Jul/100

Recent Sale: #2000 – 22091 Fraserwood Way, Richmond

Anthony Lux at DTZ Barnicke has recently brokered the sale of the brand new 25,982 sf industrial building located at #2000 - 22091 Fraserwood Way in East Richmond. The brand new structure features 3 dock loading bays and one grade loading bay. The final sale price of the strata property was $4,050,000, representing a price per square foot of $156. Unit #2000 is the largest and only stand-alone unit in the Fraserwood business park which features an additional 12 attached office/industrial units which have been partially sold.

13Jul/100

Recent Sale: 1938 152nd Street, Surrey

Another South Surrey sale, this time brokered by the team at MacDonald Commercial Realty including the Goodmans, is the retail commercial property located at 1938 152nd Street. The property boasts multi-family development potential (for an additional 100,000sf based on 2.5 FSR) with holding income and is located very close to the Semiahmoo Shopping Centre that recently sold. The selling price was $7,250,000 representing approximately 5.2% cap rate based on the in-place NOI of $374,100. The original asking price was $7,900,000. Total land area is 59,206 sf, with the total building area on the property measuring approximately 48,571 sf.

Downloads:
PDF Brochure for 1938 152nd Street

6Jul/100

Recent Sale: Semiahmoo Shopping Centre, Surrey

Semiahmoo Shopping Centre in Surrey, or what is popularly called by residents of the area as "South Surrey" has recently been sold by CBRE. The property is located on 152nd Avenue and 16th Street in Surrey. The selling price of the property was $82,700,000, and was purchased by First Capital Realty, which is now prominently displayed on the Semiahmoo Shopping Centre Website. This sale occurs as a significant amount of renovation completes this year for their 30th birthday. The shopping centre features 275,000 square feet of floor area (253,201 sf leaseable) and 75 shops and services. Anchor tenants include: PriceSmart Foods, Zellers and a BC Liquor Store. Attached is a Colliers Leasing Brochure from when Bosa Owned the property providing a good map of the centre.

PDF:
Semiahmoo Leasing Brochure

21Jun/100

Recent Sale: Lougheed Town Centre, 9855 Austin Road

One of the larger recent sales that have completed is the sale of Lougheed Town Centre mall in Burnaby, BC. The sale price of the property was $132,847,705 and features 600,000 square feet. Lougheed Town Centre is the second largest mall in Burnaby with 140 stores and services. Some major national and multi-national tenants include Wal-Mart (136,300 sf), Hudson's Bay Company (125,400 sf), London Drugs (35,000 sf), and Safeway (30,000 sf). The property has an assessed value for taxes of $144,149,000.

Links:
Official Lougheed Town Centre Website

16Jun/100

Recent Sale: #1105 – 22091 Fraserwood Way, Richmond

Another one of Don Viner and Nelson Chung's units at 22091 Fraserwood Way have completed. Patsy Hui of Re/Max has also been involved in the sales of these units. The unit sold for $330,500, representing a price per square foot of $163. The total square footage of the unit is 2,023, and is a ground floor office unit facing the highway, with a side grade loading door.

Please find the brochure for the property here:
22091 Fraserwood Way Brochure

7Jun/100

Recent Sale: 10310-10330 152nd St, Surrey

Simon Lim has recently brokered the sale of the Guildford Plaza, the large shopping plaza across the street from Guildford Town Centre at 10310-10330 152nd Street in Surrey. The property features several national tenants such as Tim Hortons and Rogers Video. The property features 130,284 square feet of land area, improved with a total of 49,625 square feet throughout three buildings with a mixture of ground floor retail and second floor office. The property was assessed at $10,686,000 and sold for $12,500,000.

Downloads:
10310-10330 152nd St, Surrey PDF Brochure

28May/100

Recent Sale: 1145 & 1250 – 22091 Fraserwood Way

While not a notable sale, a couple of Don Viner and Nelson Chung's units at 22091 Fraserwood Way have completed. Patsy Hui of Re/Max has also been involved in the sales of these units. One of the units is a second floor office, and the other is a two-storey warehouse/office. The units are connected by a doorway, and were sold to one buyer for $630,000, representing a price per square foot of $156. The total square footage of the units is 4,044, with 2,644 square feet of second floor office, and 1380 of ground floor warehouse.

Please find the brochure for the property here:
22091 Fraserwood Way Brochure

18May/100

Recent Sale: 1545-1555 West 8th Avenue, Vancouver

A bit late on this one, but Simon Lim and Morgan Dyer have recently sold the two two-storey office buildings located at 1545-1555 West 8th Avenue in Vancouver. The asking price for the two buildings was $6,600,000 and the final selling price was $6,400,000. The combined leaseable area of the two buildings is 17,614 square feet, leased out to multiple tenants. The properties had come on the market in 2008 and at the time had a combined net annual income of approximately $250,000.

Original Brochure for 1545-1555 W. 8th Ave