Unsurprisingly, the commercial real estate transactions that drew the most reader attention had ties to residential development. All but one of our most-read Done Deals profiles were located in B.C., with Coquitlam lots proving popular. A rental complex sale in small-town Alberta rounding off our list as the outlier.
Here is our second annual countdown of WesternInvestor.com's five most-popular Done Deals of 2017.
5. Apartment complex in Edson, Alberta sells for $44K per door
Our first Done Deal to make the list is a 70-unit rental complex sale, sold for a modest $44k per door. Edson, Alberta is a town of approximately 8,414 people in west-central Alberta.
4. Surrey residential lot sold for development
A one-acre, single-family lot in the Surrey neighbourhood of West Clayton sold for $3.1M. The property currently hots a one-storey home, but has potential for lucrative multi-family redevelopment.
3. Delta Tim Hortons and gas station sold for $4.29M
This investment property in Delta features an Esso gas station, 7-Eleven convenience store and a Tim Hortons. The 1.4-acre property is an attractive investment as tenants pay for all maintenance and property taxes.
2. Coquitlam strip mall sells for $12M
The eight-unit retail property is our second most-read Done Deal, sold for – you guessed it – its redevelopment potential. The strip mall 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. Its proximity to an upscale residential community made it particularly desirable.
1. Coquitlam land assembly sold for $30M
Our most-popular Done Deal of the year is also the most expensive sale on our list and our second Coquitlam property. The land assembly includes 14 single-family lots, sold for approximately $2.1M per lot. Upon rezoning, the site has potential for a RM-3 multi-storey, medium-density apartment development.
