A freestanding industrial building on a prime redevelopment site sold for $5.15 million, NAI Commercial tells Western Investor.
The 21,120-square-foot site is zoned for medium density, multi-family residential development. The property currently houses a 13,899-square-foot industrial building. The deal was sold in an off-market transaction to Parnus Properties Ltd. with a vendor leaseback from Dawn Properties Inc. The site has an assessed value of $3.48 million.
The property is located at 6851 Antrim Ave., Burnaby.
Breakdown:
Price: $5,150,000
Lot Size: 21,120 SF
Property Type: Industrial
Zoning: M-4
2016 B.C. Assessment Value: $3,484,400
Date of Sale: 02/06/2017
City: Burnaby
Province: B.C.
Name of Brokerage: NAI Commercial
Name of Vendor: Dawn Properties Inc.
Name of Buyer: Parnus Properties Ltd.
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