Nanaimo office building sold for $3M above value

The property sold for over $8 million and is currently fully leased

for Western Investor
November 23, 2016

The Treesea Place building is located in downtown Nanaimo. — Colliers International Nanaimo
Price: 8,050,000
Lot Size: 32,830 SFL
Property Type: Office
Zoning: DT2
2015 B.C. Assessment Value: $5,136,000
Date of Sale: 07/16/16
City: Nanaimo
Province: B.C.
Name of Brokerage: Colliers International Nanaimo
A 5-storey office building in downtown Nanaimo has sold for its full asking price at $8,050,000, Colliers brokers Brad Bailey and Jason Winton report.
The fully-leased Vancouver Island property boasts green construction and has fantastic views of the ocean.  The office building is 35,000 square feet and sold for nearly $3 million above its most recent assessed value. 
The property is located at 345 Wallace St. in Nanaimo. 

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