The guys at Colliers have been busy! Sherman Scott and Brodie Henrichsen recently sold the old TD Bank building at 3245 Fraser Street, on the northwest corner of E. 17th Avenue and Fraser Street in Vancouver. The building has a total 3013 square feet, and the lot measures 52.75 x 122 feet. Zoning for the property is C-2 Commercial. Building was sold for $1,020,000 and had an asking price of $1,500,000.
Category: Retail Real Estate
The Arby’s restaurant property at 6038 Kingsway in Burnaby was just sold for $1,767,600 by Re/Max. The property is a couple blocks east of the busy Imperial Street and Kingsway intersection. The building has a retail and office component totaling 3,735 square feet, with 25 surface parking stalls. Zoning is C7, and lot area is approximately 16,888 square feet. The original asking price for the property was $2,280,000.
Might be a month late on this one, but still an interesting read. This is a report from Colliers International with all the top Global Retail Centres and their rates. Top retail corridors in the US including 5th Avenue and Madison Avenue in New York saw decreases in lease rates of $250 and $350 per square foot per annum respectively.. which is a huge drop.
See the attached PDF article for more info an comparisons of the most expensive retail rents in the world:
A Retail and Office building on the northest corner of 120th Street and 84th Avenue in Surrey was just sold. Brokered by the boys at Mac Realty, the building featured two floors, with the first floor retail and second floor offices.
The building is named Plaza 84 and has several small local shops and restaurants including Church’s Chicken, with approximately 17,360 square feet of leasable space. Price paid for the property was $2,587,500, which represents a price of $149 per square foot.
The Henry’s Collision Property on 2315 Cambie Street was recently sold privately (Not DTZ, as previously claimed) for around $1.8M. This property is located near West 7th Avenue on the West side of Cambie Street, on the Cambie Rise. This is an excellent area that is of course very close to the Canada Line station. It is a small real estate lot with approximately 40 feet of frontage on Cambie Street.
The 5-floor, 27,000 square foot building on 417-419 West Hastings Street in Downtown Vancouver was just sold for $4,850,000, which represents a price per square foot of $180. FAR for the site is 5 times the lot area. The building is currently single-tenant and contains both retail, office and warehouse on its 5 floors.
