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East Vancouver new industrial build sells for $37.5 million

Direct from developer to investor deal of five-storey property sold at full asking price and $12.5 million above the assessment value
CBRE Ltd., Vancouver, for Western Investor

Property type: Industrial mixed-use

Location: 1308 Adanac Street, Vancouver

Number of units: 10

Size of property: 47,317 square feet

Land size: 18,391 square feet

Land size in acres: 0.422 acres

Zoning: I-2

Floor space ratio: FSR 3.0

BC Assessment value: $25 million

List price: $37.5 million

Sale price: $37.5 million

Date of sale: July 2023

Vendor: Union Allied Capital Corporation           

Buyer; Porte

Brokerage: CBRE, Vancouver

Brokers: Carter Kerzner and Anthony Liang.