A very rare raw-land site comprising 10 acres, undeveloped and zoned for industrial in Surrey, sold for $23 million after multiple offers, reports Avison Young. The final sale price is the equivalent of more than $2 million per acre, although $2 million under the asking price.
Breakdown:
Property type: Industrial land
Location: 5353 192 Street and 19060 54th Avenue, Surrey
Size of property: 10.88 acres
Zoning: IL (light-impact industrial)
List price: $25 million
Sale price: $23 million
Date of sale: March 10, 2020
Brokerage: Avison Young, Vancouver
Brokers: Ryan Kerr, Joe Lehman, Terry Thies, Garth White
