Jon Meder of NAI Commercial Vancouver successfully sold the 33,439 sf development site on 36-50 Sixth Street, 615-637 Clarkson Street and 612-616 Carnarvon Street, New Westminster, B.C. for $6,860,000.
The property is situated in the downtown business district, at the corner of Sixth and Carnarvon Streets, one block from the Columbia Street SkyTrain Station. Across the street to the northwest at 56-62 Sixth Street, the Onni Group of Companies built a high-rise in 2004 with a 6.2 FSR and a total of 186,950 sf, built out on a 30,168 sf lot. Across the street to the northeast at 39 Sixth Street and 545 Clarkson Street, Bosa Properties Inc. built a high-rise in 2005 with a 5.2 FSR and a total of 136,688 sf, built out on a 26,292 sf lot.
PRINCETON, NJ – March 5, 2014: NAI Global, the world’s largest, most powerful network of owner-operated commercial real estate firms, earned the top five spot in the 2014 Lipsey Survey of Top 25 Commercial Real Estate Brands. The survey was conducted among 100,000 commercial real estate professionals using a combination of ballot voting, phone interviews and focus groups to identify the top global brands. NAI Global is the only commercial real estate network represented in the top five.
“As an organization, our strategic focus is to build the brand and drive growth for and with our Member firms worldwide with a goal to provide excellent service to our clients. It is gratifying to see this reflected in the results of this year’s Lipsey survey,” said Jay Olshonsky, President, NAI Global. “Our success is built on the strength of our Members, who are local market-leaders collectively achieving extraordinary results for their clients through the power of the NAI Global network.”
The survey is conducted by The Lipsey Company, a leading training and consulting firm specializing in the commercial real estate industry to equip organizations and their practitioners with the skills necessary to succeed in today’s competitive environment. The 2014 survey results can be found here http://www.lipseyco.com.
Overall the 2013 market has been stronger than in 2012. Even though the perception is things have slowed down, we find sales activity remains strong. Generally, activity is driven by local investors, but we see for the second year running a marked interest by Mainland Chinese investors. The tertiary markets were dominated by a couple of larger buyers who are gentrifying some of the areas such as New Westminster. Most of the activity is still focused in Metro Vancouver. With only 14% of the sales taking place in the Fraser Valley. Some sub-markets in Metro Vancouver experienced modest price declines. We expect to see continued demand in 2014, but limited product coming available.
How much is my business worth? How long will it take to sell? Two questions I have been asked many times as I help the leading edge of the baby boomer demographic sell their businesses and either retire or at least scale down their business activities.
The baby boomers as a group are the wealthiest and most active generation of modern times and opportunities abound for entrepreneurs in this era. Many have started on a small scale and built a successful business. For example I recently sold a business started by an ex‐banker in his garage almost thirty years ago. The sale of the business and acquired property was in the area of $4,500,000.
NAI Commercial would like to invite our valued clients as well as retailers, developers, landlords and property owners to visit our booth and to meet with our brokers at the 2013 ICSC Whistler Conference, which will be held January 26 – 28, 2014 at Chateau Whistler Hotel.
NAI Commercial has invested considerably to ensure optimal visibility for the company and its local, national and international clients. The conference is an excellent platform to meet with brokers and retailers present throughout the event, to gain insight on new or existing real estate projects and to promote business growth and development
DATE: THURSDAY, JANUARY 30, 2014
LOCATION: SURREY BOARD OF TRADE
101-14439 104 AVENUE, SURREY
TIME: REGISTRATION 5:45 PM / PROGRAM 6:00 – 8:30 PM
ADMISSION: FREE – LIMITED SEATING. RESERVE EARLY TO SECURE YOUR PLACE.
Join us for an informal evening of networking, while learning how to value and extract the wealth you have built up in your business.
• Learn how to successfully plan your succession and exit to ensure wealth maximization for you and your family.
• Mingle with local professionals who have experience and skills to help you successfully plan and implement your succession plan during our networking cocktail reception.
Edmonton continues to have one of the strongest economies in Canada. How do we know that? The government issued a total of $1.2 billion in non-residential building permits through the end of June 2013 and there has been an increase of $372 million in non-residential building permits during the first six months of 2013 alone.
• If it’s true that suburban office space is heading towards disaster.
• Why real rents in almost all MSAs are either at or very near their historic lows.
• Why the middle class is forced to move to the suburbs.
• Why the slow recovery of the suburban office sector is cyclical rather than secular.
NAI Commercial is proud to announce that one of its brokers, Anne-Marie Sauvé, is a finalist for the Rising Star Award, which will be presented on November 26 at the awards ceremony organized by Crew Mtl. This prize is awarded to a woman who has less than ten (10) years’ experience in commercial real estate and who is recognized for her sense of commitment, her leadership and her achievements. Please join us in wishing her the best of luck.
L’équipe de NAI Commercial est fière de souligner qu’un de ses courtiers, Mme Anne-Marie Sauvé, figure parmi les finalistes pour le Prix Étoile montante qui sera remis le 26 novembre prochain lors de la Soirée Excellence organisée par Crew Mtl. Ce prix est décerné à une femme ayant moins de dix (10) années d’expérience en immobilier commercial et qui s’est démarquée par son sens de l’engagement, du leadership et leurs réalisations. Joignez-vous à nous pour lui souhaiter la meilleure des chances!
Featuring Jay Olshonsky, NAI Global President & Dr. Peter Linneman, NAI’s Chief Economist
October 24th, 2013, 2013
12:00 PM – 1:00 PM Eastern
Where are we in the recovery? Which MSAs present opportunities? Join Jay Olshonsky, NAI Global President and Dr. Peter Linneman, NAI’s Chief Economist, for an economic briefing. Dr. Linneman will address several topics during this Web conference including:
◾Where are we in the recovery?
◾Changes in job growth
◾Which MSAs present opportunities?
◾Implications of the changing interest rate environment
◾Which markets still hold investment opportunities?
◾Real rent analysis – which markets are below historical averages?
◾Update of real estate capital markets
◾Social security Implications as the Boomers retire