office development site on skytrain - Avison Young
office Development site on skytrain
1296 station street vancouver, BC
MAIN STREET SKYTRAIN STATION
1296 station street
for sale TRANSIT-ORIENTED DEVELOPMENT SITE High Density Development Site with Holding Income Mark Hannah Principal D 604.647.5065 E [email protected]
Rob Greer* Principal D 604.647.5084 E [email protected] * Robert Greer Personal Real Estate Corporation
Alex Messina Associate D 604.646.8391 E [email protected]
David Venance Client Services Coordinator D 604.647.1334 E [email protected]
office Development site on skytrain
1296 station street vancouver, BC executive summary
opportunity
municipal address 1296 Station Street (215 Terminal Avenue) Vancouver, BC
Avison Young Commercial Real Estate (B.C.) Inc. is pleased to present this rare opportunity to acquire a transit-oriented development site on the corner of Terminal Avenue and Station Street, located immediately adjacent to the Main Street Skytrain Station. The site has a total area of approximately 41,395 sf and with its irreplaceable location on Skytrain, is ideally suited for high-density redevelopment. The property is currently improved with a multi-tenant retail building which is 100% leased to Party Bazaar and Cloverdale Paint, providing secure holding income. This site has the potential to accommodate redevelopment to a 14-storey office tower with a total density of approximately 6.04 FSR and 170 feet in height.
site area 41,395 sf (0.95 acres) frontage 248 feet along Terminal Avenue zoning FC-1 / I-3 (Split Zoning) property taxes $155,311.77 (2012) net operating income $391,380 PROPOSED OFFICE DEVELOPMENT 14-storeys (170 feet in height) 250,175 sf (6.04 FSR)
location The property is situated in the False Creek Flats on the northeast corner of Terminal Avenue and Station Street, immediately to the east of the Main Street Skytrain Station and immediately south of Pacific Central Station. This location is one of the few remaining transit-oriented redevelopment opportunities within close proximity of Downtown Vancouver. The False Creek Flats are directly east of Downtown Vancouver’s Central Business District and the surrounding area is experiencing rapid development and growth. With limited development sites remaining in Downtown Vancouver, the False Creek Flats are receiving strong interest from retail and office users, including the Canadian Border Services Agency and Columbia College who have pre-leased space in new developments and Mercedes-Benz Canada who have a new dealership under construction. Terminal Avenue is one of the major east/west connectors between Downtown Vancouver and the Trans-Canada (Highway 1) with high daily traffic counts. The location provides easy downtown vehicular access via the Dunsmuir Viaduct. The Expo SkyTrain line runs along Terminal Avenue and the Main Street SkyTrain Station is immediately to the west of the property.
193 feet
38 feet
legal description Lot D, Except Part in Plan 22525 Block G District Lot 2037 Plan 22488
143 feet
parcel identifier 015-081-575
83 f e
* All areas and measurements are approximate and should be independently verified.
145 f ee
PRICE Contact Listing Agents
t
FINANCING Treat as Clear Title
et
248 fe
et
* Dimensions are approximate and should be independently verified.
office Development site on skytrain
1296 station street vancouver, BC
holding income The site is improved with a 20,649 sf multitenant retail building which is 100% leased to Party Bazaar and Cloverdale Paint. These leases provide secure holding income and both include landlord cancellation provisions offering flexibility for redevelopment.
REdevelopment potential The property is currently zoned FC-1 and I-3 (in a split zone), which would permit up to a 5.00 Floor Space Ratio (FSR). Redevelopment of the site would involve consolidation of the zoning, however residential uses on the site are not currently supported by the City of Vancouver.
THORNTON PARK
STAIRS TO SKYTRAIN
TERMINA
L AVENU
E
STATION STREET
MAIN STREET
On behalf of the owners, DIALOG (architects) have submitted a Zoning Enquiry to the City of Vancouver with respect to the potential rezoning of the site to accommodate a 14-storey office tower with service retail at grade, which would reflect a 6.06 FSR and reach 170 feet in height. The proposed 14-storey office tower would comprise a gross floor area of approximately 250,175 sf, with floors plates averaging approximately 15,000 sf of rentable area. Preliminary drawings are available as part of the due diligence materials.
PACIFIC CENTRAL STATION
office Development site on skytrain
1296 station street vancouver, BC
For more information, please contact:
Mark Hannah Principal D 604.647.5065 E [email protected]
Rob Greer* Principal D 604.647.5084 E [email protected] * Robert Greer Personal Real Estate Corporation
Suite 2100, 1055 West Georgia Street PO Box 11109 Royal Centre, Vancouver, BC, Canada V6E 3P3 P 604.687.7331 E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real Estate (B.C.) Inc.
Alex Messina Associate D 604.646.8391 E [email protected]
David Venance Client Services Coordinator D 604.647.1334 E [email protected]
1296 station street vancouver, BC
MAIN STREET SKYTRAIN STATION
1296 station street
for sale TRANSIT-ORIENTED DEVELOPMENT SITE High Density Development Site with Holding Income Mark Hannah Principal D 604.647.5065 E [email protected]
Rob Greer* Principal D 604.647.5084 E [email protected] * Robert Greer Personal Real Estate Corporation
Alex Messina Associate D 604.646.8391 E [email protected]
David Venance Client Services Coordinator D 604.647.1334 E [email protected]
office Development site on skytrain
1296 station street vancouver, BC executive summary
opportunity
municipal address 1296 Station Street (215 Terminal Avenue) Vancouver, BC
Avison Young Commercial Real Estate (B.C.) Inc. is pleased to present this rare opportunity to acquire a transit-oriented development site on the corner of Terminal Avenue and Station Street, located immediately adjacent to the Main Street Skytrain Station. The site has a total area of approximately 41,395 sf and with its irreplaceable location on Skytrain, is ideally suited for high-density redevelopment. The property is currently improved with a multi-tenant retail building which is 100% leased to Party Bazaar and Cloverdale Paint, providing secure holding income. This site has the potential to accommodate redevelopment to a 14-storey office tower with a total density of approximately 6.04 FSR and 170 feet in height.
site area 41,395 sf (0.95 acres) frontage 248 feet along Terminal Avenue zoning FC-1 / I-3 (Split Zoning) property taxes $155,311.77 (2012) net operating income $391,380 PROPOSED OFFICE DEVELOPMENT 14-storeys (170 feet in height) 250,175 sf (6.04 FSR)
location The property is situated in the False Creek Flats on the northeast corner of Terminal Avenue and Station Street, immediately to the east of the Main Street Skytrain Station and immediately south of Pacific Central Station. This location is one of the few remaining transit-oriented redevelopment opportunities within close proximity of Downtown Vancouver. The False Creek Flats are directly east of Downtown Vancouver’s Central Business District and the surrounding area is experiencing rapid development and growth. With limited development sites remaining in Downtown Vancouver, the False Creek Flats are receiving strong interest from retail and office users, including the Canadian Border Services Agency and Columbia College who have pre-leased space in new developments and Mercedes-Benz Canada who have a new dealership under construction. Terminal Avenue is one of the major east/west connectors between Downtown Vancouver and the Trans-Canada (Highway 1) with high daily traffic counts. The location provides easy downtown vehicular access via the Dunsmuir Viaduct. The Expo SkyTrain line runs along Terminal Avenue and the Main Street SkyTrain Station is immediately to the west of the property.
193 feet
38 feet
legal description Lot D, Except Part in Plan 22525 Block G District Lot 2037 Plan 22488
143 feet
parcel identifier 015-081-575
83 f e
* All areas and measurements are approximate and should be independently verified.
145 f ee
PRICE Contact Listing Agents
t
FINANCING Treat as Clear Title
et
248 fe
et
* Dimensions are approximate and should be independently verified.
office Development site on skytrain
1296 station street vancouver, BC
holding income The site is improved with a 20,649 sf multitenant retail building which is 100% leased to Party Bazaar and Cloverdale Paint. These leases provide secure holding income and both include landlord cancellation provisions offering flexibility for redevelopment.
REdevelopment potential The property is currently zoned FC-1 and I-3 (in a split zone), which would permit up to a 5.00 Floor Space Ratio (FSR). Redevelopment of the site would involve consolidation of the zoning, however residential uses on the site are not currently supported by the City of Vancouver.
THORNTON PARK
STAIRS TO SKYTRAIN
TERMINA
L AVENU
E
STATION STREET
MAIN STREET
On behalf of the owners, DIALOG (architects) have submitted a Zoning Enquiry to the City of Vancouver with respect to the potential rezoning of the site to accommodate a 14-storey office tower with service retail at grade, which would reflect a 6.06 FSR and reach 170 feet in height. The proposed 14-storey office tower would comprise a gross floor area of approximately 250,175 sf, with floors plates averaging approximately 15,000 sf of rentable area. Preliminary drawings are available as part of the due diligence materials.
PACIFIC CENTRAL STATION
office Development site on skytrain
1296 station street vancouver, BC
For more information, please contact:
Mark Hannah Principal D 604.647.5065 E [email protected]
Rob Greer* Principal D 604.647.5084 E [email protected] * Robert Greer Personal Real Estate Corporation
Suite 2100, 1055 West Georgia Street PO Box 11109 Royal Centre, Vancouver, BC, Canada V6E 3P3 P 604.687.7331 E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real Estate (B.C.) Inc.
Alex Messina Associate D 604.646.8391 E [email protected]
David Venance Client Services Coordinator D 604.647.1334 E [email protected]
