November 9, 2014
Our readers report on commercial real estate sales across the west Done Deals is our monthly feature highlighting some of the major real estate transactions in Western Canada’s vibrant commercial real estate market.
Choices REIT closes super deal
Choice Properties Real Estate Investment Trust of Brantford, Ontario has completed the acquisition of a portfolio of 16 properties from subsidiaries of Loblaw Companies Limited consisting of 15 retail properties and one warehouse. The properties include Real Canadian Superstores in Winnipeg, Abbotsford and Whitehorse; Extra Food stores in Saskatoon, Devon, Alberta and Yellowknife; and a No Frills brand outlet in Peace River, Alberta. The total purchase price for the portfolio was $211.9 million, excluding transaction costs. Choice now has a portfolio of 472 properties comprising 459 retail properties, 10 warehouse properties, one office complex, one industrial property and one parcel of land, totalling approximately 38.9 million square feet across Canada.
From: Frontline Real Estate Services, Surrey. Frontline agent Garth White and buyer agent Jagjot Gill of Century-21 Coastal Realty Ltd. sold the following:
Deal: 6,800-square-foot industrial building, Scott Road, Surrey. Price: $1.12 million.
Frontline agent Garth White and buyer agent Willams Hobbs of Cushman Wakefield Ltd. sold the following:
Deal: 1-acre industrial lot, 154 Street, Surrey. Price $1.32 million.
Frontline agent Garth White and seller’s agent Terry Stephenson of Royal LePage Wolstencroft Realty, sold the following:
Deal: 0.88-acre industrial land, 192 Street, Surrey. Price: $1.8 million.
From: Avison Young, Vancouver. Avison Young agents Chris Wieser and Rob Greer sold the following:
Deal: 37-unit rental apartment building, Manchester Road, Victoria. Price: $4.75 million.
From: Canadian Apartment Property Real Estate Investment Trust (CAPREIT), Toronto. CAPREIT reports the following acquisition.
Deal: 125-unit rental apartment building, Regina. (This brings CAPREIT’s Regina apartment building holdings to 234 units.) Price: $17 million.
From HQ Commercial, Vancouver. HQ agents David and Mark Goodman report the following sales:
Deal: 12-unit rental apartment building, Knight Street, Vancouver. Price: $1.82 million.
Deal: 11-unit rental apartment building, built in 1955, East Boulevard, (Kerrisdale), Vancouver. Price: $4.71 million.
Deal: 10-unit apartment rental building, built in 1951, East Boulevard, (Kerrisdale),Vancouver. Price: $5.07 million.
From: Acquire Realty, Phoenix, Arizona. Acquire broker Dave Futcher reports the following investment sale:
Deal: 1,446-square-foot, 3 bedroom rental house, Surprise area, Phoenix, Arizona. Price: $154,900.
From: Re/Max Penticton Realty, Penticton. Re/Max’s Team Green report the following sale:
Deal: 3.57-acre serviced industrial land with office and workshop, Commercial Way, Penticton. Price: $1.4 million.
From: NAI Commercial, Vancouver. NAI agent Rick Lui sold the following:
Deal: 100,000-square-foot retail centre, No. 3 Road, Richmond. Price: $24.9 million.
NAI agent Aleem Thaver sold:
Deal: 9,000-square foot condominium development site, Coal Harbour, Vancouver. Price ($1,455 per square foot): $13.1 million.
NAI agents Gary Haukeland and JD Murray sold:
Deal: 11,298-square-foot office building, Mill Lake Road, Abbotsford.
Price: $1.85 million.
NAI agent Peter Seed sold:
Deal: 23,000-square-foot Westview Plaza shopping centre, Powell River. Price: $1.37 million.