- What A 40,000 sq ft warehouse in the Vancouver suburb has hit the market
- Why The property has easy access to Highway 1
- What next The space will soon have a 14,000 sq ft bay available for lease
An industrial property up for grabs in a Vancouver suburb is expected to trade at a 4.05% capitalization rate, Green Street News can reveal.
The 40,000 sq ft warehouse, at 1407 Kebet Way in Port Coquitlam, is on the block for just shy of $23m, or $574/sq ft. Lee & Associates has the marketing assignment.
The building, constructed in 1997, is on 1.6 acres in the Meridian Industrial Park. It’s near the Mary Hill Bypass, with quick access to Highway 1. Downtown Vancouver is 27 km west.
The building has three 64-foot-wide clear span bays, five dock doors with levelers and two drive-in doors. There are three skylights per bay, and ceilings are 24 feet.
Two of the three bays (totalling 26,000 sq ft) are leased to biomedical waste disposal service Stericycle until February 2027. A third bay (14,000 sq ft) will soon be available.
The building has office space with views of the Pitt River. It has air conditioning, a lunchroom with a patio and exterior security lighting. There’s also a mezzanine with a classroom.
