Vancouver Commercial Real Estate A Vancouver Real Estate Blog

10Nov/100

Recent Sale: #200 – 7900 Westminster Hwy, Richmond

Simon Lim and Nelson Chung have recently brokered the sale of the Kirin Restaurant property at #200 - 7900 Westminster Hwy in Richmond, BC. The strata retail unit measures 11,915 square feet, and is fully leased to the single restaurant tenant. The asking price of the property was $5,680,000 and the final selling price was $5,500,000.

Original PDF Brochure:
#200 - 7900 Westminster Hwy

7Sep/100

Recent Sale: 1212 Howe Street, Vancouver

Simon Lim and Cecilia Tse have recently sold the retail strata properties at 1212 Howe Street in Downtown Vancouver. It is a two-storey, multi-tenant building featuring Fitness World on the second floor and several restaurants and retail units on the ground floor. The property features 22,349 sq ft of net leaseable area, and was built in 1988. The Assessed value in 2010 was $7,405,000 and the final selling price was $7,800,000.

23Aug/100

Recent Sale: 1123 Granville Street, Vancouver

Simon Lim and Steve Fame of Colliers have recently sold the 74-Unit Rooming house located at 1123 Granville Street in downtown Vancouver. The property is imrpoved with a 74 rooms, 2 retail units and a full-sized basement. The zoning of the property is DD (Downtown District) with an FSR of 3.0, which may be increased to 5.0 for social housing. The original asking price of the property was $5,500,000 and the selling price was $4,500,000.

Original Brochure:
1123 Granville Street, Vancouver

13Aug/100

Recent Sale: 700-730 Davie Street, Vancouver

Simon Lim of Colliers International recently sold the property located on the corner of Davie and Granville at 700-730 Davie Street in Downtown Vancouver. The property was listed for sale at $5,250,000 and sold for $5,190,000. The property is improved with a single storey retail building which is divided into 5 strata lots featuring a total of 4,562 sf of leaseable area. The lot area measures 5,996.9 sf.

Downloads:
700-730 Davie Street Brochure

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

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

6Apr/100

Price Reduced! #200 – 7900 Westminster Hwy, Richmond

The Property Listed by Simon Lim and I at #200 - 7900 Westminster Hwy has been reduced by $300,000! Great investment property with Long-Term tenant and high cap rate. Fully maintained and Triple Net Rents! New Price: $5,688,000

2Mar/100

Recent Sale: 565 & 569 Howe Street, Vancouver

The properties located at 565 & 569 Howe Street, Vancouver recently sold for $5,200,000. The buildings are leased by a few local businesses but have some vacancy. Total frontage on Howe Street is 50 feet as the property consists of two 25 foot lots side by side for a total of 6000 square feet of lot area. The building has a net leaseable are of approximately 10,500 square feet. The assessed value for tax purposes was $3,843,500.