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Burnaby multilevel distribution centre sells for $358.9 million

Industrial property sells to family office of Spanish clothier Amancio Ortega
Western Investor staff
5213-north-fraser-way-burnaby
Spain's Pontegadea Inversiones SL, the investment company of Zara founder Amancio Ortega, purchased 5213 North Fraser Way, Burnaby, for nearly $366 million.Kevin T/Google Maps

DEAL | Amazon's multilevel distribution centre at 5213 North Fraser Way, Burnaby, changed hands Oct. 3, 2023, via a share sale to Pontegadea Inversiones SL. The 970,650-square-foot property sits on 27.7 acres and is fully leased to Amazon Inc. The assessed value is $259.7 million.

PRICE | $358,900,000

FROM | CoStar Group