Burnaby manufacturing site sold for double its assessed value

The industrial site has potential for high-density residential development and sold for $12.8 million

By
for Western Investor
October 4, 2017





industrial
 
A large manufacturing facility with redevelopment potential has sold in Burnaby for $12.8 million, Lee & Associates reports. 
 
The property is a two-storey warehouse and office space with two leasable units, with 25,760-square-feet of gross leasable area. The industrial building is situated on a 33,195-square-foot lot currently zoned for manufacturing use. However, the lot has potential for high-density residential development upon rezoning. The property sold for more than double it’s assessed value of just over $6 million. 
 
The property is located at 4455 Alaska St., Burnaby. 
 

Breakdown: 

 
Price: $12,800,000 
No. of Units: 2
Lot Size: 33,195 SF
Property Type: Industrial 
Zoning: M-1
2016 B.C. Assessment Value: $6,005,800
City: Burnaby  
Province: B.C. 
Name of Brokerage: Lee & Associates

 

Do you have a Done Deal you'd like to promote? Submit here for a free posting!


Chris specializes in industrial and commercial sales, primarily in focused on Burnaby and the Tri-Cities.

Lee & Associates
Suite 800, 475 West Georgia Street
Vancouver, B.C. V6B 4M9
Office: 604-630-3392

Martin is senior vice-president of Lee & Associates Vancouver and specializes in investment sales.

Lee & Associate Vancouver
500-475 West Georgia Street
Vancouver, B.C. V6B 4M9
Office: 604-630-3406

Steve is a founding partner of Lee & Associates and is the designated industrial broker for the firm.

Lee & Associates
Suite 800, 475 West Georgia Street
Vancouver, B.C. V6B 4M9
Office: 604-895-2224

Copyright © Western Investor

Email to a Friend

Close
Most Popular
Get the WesternInvestor.com Newsletter