Major Sales Transactions

[1] One of the more significant sales transactions as of late was for the former Crown Life building located at 1500 West Georgia Street as previously mentioned in our last blog. It was acquired for $120,500,000 by Bosa Properties and Kingswood Properties. This plan allows for the opportunity to develop a 400-foot tower atop a pre-existing 6,500ft2 courtyard.  

[2] The Brian Canfield Centre located at 3777 Kingsway in Burnaby has been acquired for $89.6 Million in a share transfer transaction. This property is a landmark building with expansive views all throughout.

[3] The sale of the City of New Westminster's Merchant Square at 1 Eigth Street has been purchased by two well-known tycoons, Joe Segal and Suki Sekhon. This office tower is aligned with one of the City's primary goals of generating employment.  

[4] The H&R Real Estate Investment Trust sold a 73,197 ft2 office building located at 1618 Station Street for $30.5M. 

[5] The Royal Bank Building at 618-634 6th Avenue has been sold for $32.5M, a 101% increase from the original purchase price back in 2007. It has been acquired by a local private investor, Lezam International. The price per square foot greatly mirrors the price the Downtown Vancouver market has been experiencing. 

[6] Located at 5021 Kingsway is Marlborough Court, a building adjacent to Metropolis at Metrotown and is situated in an area that has many shops and restaurants all within walking distance. This 83,000ft2, five storey office complex has been acquired for $27.2M.