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City of Burnaby sells 17.1-acre industrial site for $136 million

Vacant Marine Way site sold for more than twice the starting bid price under a Request for Proposal process.
City of Burnaby, B.C., for Western Investor
A 1651540-marine-way-property
City of Burnaby, B.C., for Western Investor

Type of property: Industrial land

Location: 3990 Marine Way, Burnaby, B.C.

Size of land in acres: 17.1 acres

Type of deal: Request for Proposal

Starting bid: $63 million

Successful bid: $136 million

Seller: City of Burnaby

Buyer: Larco Investments, Vancouver.