- What A retail property with 4.2 acres of land ready for development is on the block in Poco
- Why The owner is open to a joint venture
- What next The second phase of the project is ready to be built
A strip centre with 4.2 acres of developable land is up for grabs in suburban Vancouver and asking $53m.
The 7-acre site at 970 Dominion Avenue in Port Coquitlam houses a 52,000 sq ft center with three tenants. The second phase of the project is ready to be developed.
Cushman & Wakefield is marketing the property, which is owned by Sunrise Investments, according to the Land Title and Survey Authority. The owner is open to a joint venture with qualified parties.
The center is leased to H-Mart, a B.C. government cannabis store and Value Village and generates more than $1m of net operating income, according to the listing. It’s in a busy shopping district, with a Canadian Tire, Costco and Save-On-Foods nearby.
The property has cross-easements and restrictive covenants with an adjacent Home Depot.
