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Vancouver Industrial property commands a premium

Second sale within a year notches an 11 per cent gain in value
1213-frances-st-vancouver
A light industrial property at 1213 Frances Street, Vancouver, sold Oct. 9 for $5.45 million, an 11 per cent premium to its previous sale in Dec. 2023.

DEAL | Sold within a year of its last trade, 1213 Frances Street, Vancouver, achieved its full asking price of $5.45 million on Oct. 9. Zoned I-2, the 7,011-square-foot light industrial building on 0.15-acres sold as a vacant asset to an owner-operator. The latest sale price represented an 11 per cent premium to the $4.9 million achieved on Dec. 28, 2023. The most recent sale price worked out to $777 per square foot and $279 per buildable square foot.

PRICE | $5,450,000

FROM | Stuart Wright, Avison Young