Done Deals highlights: July 2017 issue

Our top commercial real estate transactions from WI's July edition | Fisgard tower key piece of three-building, $53.6 million acquisition deal

Western Investor
July 4, 2017

victoria building


A real estate investment trust has acquired $53.6 million worth of commercial property across Canada, including a prominent office building in downtown Victoria.

Toronto-based True North Commercial Real Estate Investment Trust (True North REIT) has added 227,180 square feet of office space to its 1.94 million-square-foot portfolio. In addition to the 47,650-square-foot Victoria property at Fisgard Street, True North REIT acquired two office properties in Toronto and Ottawa.

The Victoria property is a nine-storey building with a remaining lease term of nearly three years, occupied almost entirely by the provincial government. While no sale price of this property was provided, it is assessed at $13.5 million.

“These acquisitions will allow us to enter the Victoria market as well as increase our presence in the Greater Toronto and Ottawa areas while adding high quality office buildings to our portfolio,” said Daniel Drimmer, True North’s president and CEO.



From | JLL Canada. JLL agent Samuel Dean reports the following:

DEAL | 74-unit, two-building apartment complex on a 3.57-acre lot in Red Deer, Alberta. Buildings are located at Piper Avenue and Noble Avenue. Price: $8.05 million.


From | Shindico Realty Inc., Winnipeg. Shindico agent Ian Corbett sold the following:

DEAL | 36.85 acres of vacant industrial land in a rural area of Manitoba. Nicola Drive, Headingley. Price: $3.67 million


From | NAI Commercial. NAI agent Brandon Harding reports the following sale:

DEAL | 17-unit rental building with views of the Fraser River, priced at $195,588 per suite. Twelfth Street, New Westminster. Price: $3.32 million.


From | Colliers International, Vancouver. Colliers agent Matt Saunders reports:

DEAL | 13,020-square-foot, single-tenant warehouse and office building. North Fraser Way, Burnaby. Price: $4.18 million.


From | Cushman & Wakefield, Vancouver. Cushman agent William Hobbs sold the following:

DEAL | Two-level industrial warehouse on a 1.71-acre lot. 201A Street, Maple Ridge. Price: $7.03 million.


From | BC Farm and Ranch Realty Corp. Agent Nav Sekhon reports the following sale:

DEAL | A 39.1-acre blueberry farm with a two-storey luxury home, sold for more than $4 million above the land’s assessed value of $802,075. 176 Street, Surrey. Price: $4.9 million.


From | CBRE, Edmonton.

DEAL | Downtown Bank of Montreal Building situated on a premiere redevelopment site. 101 Street, Edmonton. Price: $13.5 million.

CBRE agent Bradley Gingerich reports the following:

DEAL | 33-unit Cascade Apartments near MacEwan University. 30,000 square feet, priced at $102,000 per suite. 111 Street, Edmonton. Price: $3.36 million.


From | Royal LePage Wolstencroft, Langley. Royale LePage agents Jamie Schreder and Ken Hick report the following:

DEAL | 4.7-acre industrial site housing a self-storage facility on Industrial Way, Chilliwack. Price: $13.5 million.


From | Avison Young, Calgary. Avison agents David Mackenzie and Mason Thompson brokered the following:

DEAL | 204-unit lowrise apartment complex on a 3.75-acre property. 146 Avenue, southeast Calgary. Price: $35.7 million.


From | Frontline Real Estate Services Ltd. Frontline agent Kyle Dodman reports:

DEAL | Two acres of industrial land in the Kanaka Business Park, sold for $675,000 per acre – the highest per acre sale price to date in the area. Katonien Street, Maple Ridge. Price: $1.35 million. 

Tanya is Western Investor's web content and social media coordinator. She first joined the Western Investor team as a editorial assistant in 2016, after a summer spent freelancing at Glacier Media papers The Burnaby Now and New West Record. She is a graduate of Langara College's journalism program.
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