Landa Global is eyeing a mixed-use community on a 3.5-acre site it has purchased for $60 million next to the Olympic Oval in Richmond, reports Avison Young. The site, which currently has two office/industrial buildings, sold for an equivalent of approximately $17.1 million per acre.
Breakdown:
Property type: Development site
Location: 6851 Elmridge Way and Richmond Road, Richmond
Land size: 3.5 acres
Buyer: Landa Global Properties
Potential: Multi-family, retail, hotel
Rezoning: Due summer 2020
Sale price: $60 million
Price per acre: $17.1 million (approx.)
Brokerage: Avison Young, Vancouver
Brokers: Bal Atwal, Mehdi Shokri
