Abbotsford multi-family development land sold for $26M

The 12.56-acre site is zoned for midrise development and sold for more than $6M above assessed value

By
for Western Investor
July 9, 2018





abbotsford
 
Two development land parcels in Abbotsford have sold for $26 million, Cushman & Wakefield tells Western Investor
 
The properties are situated in a predominantly residential neighborhood this is close to Highstreet Shopping Centre – a popular shopping destination – and is in close proximity to main transit corridors. Alf and Bruno Wall – the well-known developers who purchased the parcels – intend to develop it into a multi-family project.  These are among the best parcels of land in Abbotsford to sell in recent years because of the potential to build townhouse and condo projects. The parcels are currently zoned for midrise development.
 
The properties are located 3174 Mt. Lehman Rd. and 30530 Cardinal Ave., Abbotsford. 
 
 

Breakdown: 

 
Price: $26,000,000
Lot Size: 12.56 acres 
Property Type: Land  
2017 B.C. Assessment Value: $19,240,000
Date of Sale: 04/30/2018
City: Abbotsford   
Province: B.C. 
Name of Brokerage: Cushman & Wakefield 
Name of Vendor: David Froese 
Name of Buyer: 1159461 B.C. LTD.
 
 

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Harpreet is in the top one percent of realtors in the Fraser Valley, specializing in commercial, development land and investment transactions.

Cushman & Wakefield
#700-700 West Georgia Street
Vancouver, BC V7Y 1A1
Office: 604-640-5870

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