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Coquitlam strip mall sells for $12 million

The 22,980-square-foot strip retail centre sold for $1.5 million above assessed value
austin plaza
Price: $12,000,000
No. of Units: 8
Price/Unit: $1,500,000
Building Size: 22,980 SF
Price/SF: $522
Property Type: Retail 
2016 B.C. Assessment Value: $10,481,600 
City: Coquitlam 
Province: B.C. 
Name of Brokerage: Cushman & Wakefield 
A shopping centre in Coquitlam has sold for $12 million, Western Investor has learned. 
The eight-unit retail strip is home to a Money Mart and Little Ceasars Pizza and adjacent to a pub and accompanying liquor store at the corner of Austin Avenue and LeBleu Street. The centre is supported by a well-established and upscale surrounding residential community. The site has potential for future mixed-use development. Assessed at $10.5 million, the property sold for an impressive $1,500,000 per unit. 
The property is located at 1020 Austin Ave., Coquitlam. 

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