- What 409 and 411 West Broadway are on the block
- Why The site is occupied by two mixed-use office and retail buildings
- What next Marcus & Millichap has the assignment
A development site with holding income has been teed up for $9.8m in Vancouver.
Marcus & Millichap has the assignment for 409 and 411 West Broadway on behalf of an unknown owner. The 2024 assessed value of the parcels was $7.5m.
The lots span 5,000 sq ft and are occupied by two mixed-use office and retail buildings. Evolve VR Gaming leases space at 411 West Broadway.
The land is zoned C-3A Commercial, permitting such uses as a financial institution, a hotel, an elementary school and a mixed-use residential building.
Built in 1982, 409 and 411 West Broadway are in Vancouver’s Mount Pleasant neighbourhood. The site is 100 m from the Broadway-City Hall SkyTrain station, within 1 km of the Cambie Street Bridge and within 2 km of the Granville Street Bridge.
Following a muted first quarter, investment activity in Vancouver accelerated in Q2, with $5.6bn of deals closing year to date, according to Altus Group.
Industrial, commercial and investment land proved particularly attractive to buyers, with $1.3bn of transactions taking place through Q2, a 45% annual increase.
