A seven-unit office property in Burnaby has sold for $10.2 million, Colliers International tells Western Investor.
The brick and steel office building built in 1991 has a gross leasable area of 32,405 square feet, spread out over five storeys. The property has an assessed value of $8,404,000 and sold for approximately $1.45 million per unit. The property was sold to an owner-occupier who will occupy the building’s vacant third floor. The premises include 92 parking stalls.
The property is located at 4126 Norland Ave., Burnaby.
Breakdown:
Price: $10,200,000
No. of Units: 7
Price/Unit: $1,457,142
Lot Size: 35,568 SF
Property Type: Office
Zoning: CD
2017 B.C. Assessment Value: $8,404,000
Date of Sale: 02/21/2018
City: Burnaby
Province: B.C.
Name of Brokerage: Colliers International
Name of Vendor: Norland Estates Ltd.
Name of Buyer: Solidarity Holdings Ltd.
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