Still Creek industrial investment property sold for $5.75 million

The four-unit warehouse sold for $1.4 million per unit

By
for Western Investor
July 18, 2017





still creek industrial
 
A multi-tenant industrial facility has sold for $5.75 million, according to Avison Young Vancouver. 
 
The fully-leased, recently renovated property is 26,400 square feet situated on a 1.57 acre lot. The warehouse has seven grade loading doors with 23ft ceilings. The property has a net-operating income of $267,970. 
 
The warehouse is within the Still Creek industrial area of North Burnaby, between Lougheed and Trans-Canada Highway. This area allows for quick and convenient access throughout Metro Vancouver. This area is easily accessible by regular bus service along Douglas Road, and is an approximately ten minute walk from the Holdom SkyTrain Station. 
 
The property is located at 2984 Norland Ave., Burnaby. 
 

Breakdown:

 
Price: $5,750,000
No. of Units: 4
Price/Unit: $1,437,500
Lot Size: 1.57 acres 
Property Type: Industrial 
Zoning: M-2
2016 B.C. Assessment Value: $4,812,000
City: Burnaby
Province: B.C.
Name of Brokerage: Avison Young
 
 

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Russ is a principal at Avison Young where he specializes in the sale and leasing of properties in the Vancouver region, and working with users in an advisory role.

Avison Young Vancouver
#2900 – 1055 W Georgia Street
Vancouver, B.C. V6E 3P3
Office: 604-757-5115

Kevin is a vice president at Avison Young where he has specialized in the sale and leasing of properties in the East Vancouver and Burnaby areas over the past seven years.

Avison Young Vancouver
#2900-1055 West Georgia Street
Vancouver, B.C. V6E 3P3
Office: 604-646-8393

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