Done Deals highlights: May 2017 issue

Our top commercial real estate transactions from WI's May edition | One of the last Vancouver gas stations sells for $72M

By
Western Investor
May 1, 2017





chevron station

 

Anthem Properties has bought the second-last gas station in Vancouver’s downtown peninsula, paying a reported – and stunning – $72 million for the 16,369-square-foot site on West Georgia Street.

The Anthem team is “enthusiastically looking forward to creating a stunning residential project on this high profile site,” said Anthem CEO Eric Carlson in a news release. The site still requires rezoning.

“It’s was a real estate decision,” said Chevron spokesman Adrien Byrne. “It was one of the highest performing sites in our network in B.C. but, given the vibrant real estate market in Vancouver, we made the decision last year to put the site on the market and now it is sold.”

Wesgroup recently bought the 18,009-square-foot Chevron station site at 5505 Dunbar Street for $19.4 million.

The last gas station in downtown Vancouver, an Esso outlet on Burrard Street, is listed for sale by Colliers International.

 


 

From | Avison Young, Vancouver. Avison Young principal Chris Wieser reports:

DEAL | 54-suite rental apartment building on Hugh Allan Drive in Kamloops. Price: $9 million.

 

 From | Macdonald Commercial Real Estate Services Ltd., Vancouver. Macdonald agents Stuart Wright and Nick Goulet report:

DEAL | A 10,863-square-foot warehouse sold in an off-market deal. 15th Street, North Vancouver. Price: $3.12 million.

 

From | Frontline Real Estate Services Ltd., Langley, B.C. Frontline agents Mike Harrison and Justin Mitchell report the following sale:

DEAL | 1.08 acre of single-family development land, sold for double its assessed value. Sunnyside Heights, South Surrey. Price: $3.2 million.

 

From | HQ Commercial, Vancouver. HQ agent Mark Goodman reports:

DEAL | Eight-unit, 51-year-old apartment building on Oxford Street, East Vancouver sold for $295,000 per unit. Price: $2.36 million.

 

From | JLL Canada, Vancouver. JLL agent David Venance sold the following:

DEAL | 37-unit Edmond’s Kourt apartments, near SkyTrain station, priced at $227,837 per door. Royal Avenue, New West. Price: $8.43 million

JLL agent Samuel Dean reports:

DEAL | Woodridge Place apartments, zoned RA-7. 54 units, priced at $141,305 per unit. 158 Street, Edmonton. Price: $7.63 million

 

From | Lee & Associates Commercial Real Estate and Amex Realty, Vancouver. Agents Don Mussenden and Jazz Singh co-brokered the following sale:

DEAL | 13,261-square-foot Strathcona office and retail building, zoned M1. E Hastings Street, Vancouver. Price: $8.8 million.

 

From | William Wright Commercial, Vancouver. William Wright agent Marianne DeCotiis sold the following:

DEAL | Six new, fully leased strata townhouse with annual rental income of $123,000, sold for $350,000 per unit. Westmount Drive, Prince George. Price: $2.1 million.

William Wright agent Cory Wright reports:

DEAL | Multi-tenant retail building of 13,420 square feet, zoned C3. Lougheed Highway, downtown Maple Ridge. Price: $2.5 million.

DEAL | New Westminster waterfront development land of 17,418 square feet. 3.5 FSR, assessed at $1,856,000. Corner of Royal Avenue and Dufferin Street, New West. Price: $4.88 million.

 

From | HomeLife Glenayre Realty. HomeLife agent Rick Toor sold the following:

DEAL | 16-unit, 15,136-square-foot rental building sold for $103,437 per suite. On College Street, Chilliwack. Price: $1.65 million.

 

From | CBRE Edmonton. CBRE agent Bradley Gingerich reports:

DEAL | 70-unit multi-family property, sold for $44,750 per door. Edson, Alberta. Price: $3.13 million.

 

From | Colliers International, Vancouver. Colliers agent Craig Kincaid-Smith brokered the following sale:

DEAL | Two-tenant, 1.38-acre industrial property, zoned I-2. MacDonald Road, Tilbury Industrial Park, Delta. Price: $5.12 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.
Frank O'Brien is the editor of Western Canada's biggest commercial real estate newspaper, Western Investor, as well as a contributing editor at West Coast Condominium, real estate contributor to Business in Vancouver and a regular media commentator on real estate investment.
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