Focusing on Commercial Real Estate on Main,
Fraser, East Broadway and Kingsway
March 2016
HIGHLIGHTS
- Main and Broadway is one of the hottest spots in Vancouver, spurred by new developments and high retail demand
- Land prices are going up fast, particularly in the area of Fraser and East Broadway
- Fraser and 49th is home to a strong, vibrant and growing community
- Westside developers and investors have turned their sights to the Eastside
SUMMARY OF LAND PRICES
Opportunity in a nutshell:
The sought‐after commercial real estate market between Main and Knight Streets o ers compelling investment options with properties and land appreciating at an increasing pace. The good news for sellers? Many buyers are keen to purchase, most notably Westside investors. Busy intersections such as Main and Broadway are booming as the area’s popularity grows. Who is buying? Local families are targeting properties under $5 million while o shore investors are focused on acquiring larger sites for their development potential.
The focus of this newsletter is the Main and Fraser Street neighbourhoods — these growing, diverse communities o er desirable character, diversity, and a sense of community. This is where people want to raise families and support local businesses. The resulting demand is translating to higher prices for commercial properties with local investors driving demand.
WHAT IS TRENDING
Fraser and King Edward:
Nammos Estiatoria is opening soon at 24th and Fraser next to the recently opened Batard Bakery and Earnest Ice Cream. Pizza Carano is expanding at 26th and Fraser, Prado Co ee just opened across the street and Bow’s & Arrow Co ee Roasters is opening a café and restaurant.
Little India (Main and 49th):
Orr Development is driving change in Little India with a proposed new six‐storey rental building on the S.W. corner of Main and 49th.
Fraser and Kingsway:
Properties are being snapped up at this corner, with the recent purchase of the Bible Store and four other sites. Investors expect the trend of restaurant growth – including the likes of Les Faux Bourgeois, Matchstick Co ee, Osteria Savio Volpe, and Sal Y Limon — to continue on all four corners.
Main & King Edward (12th to 28th Ave.):
The Burritt Bros. site at 17th and Main sold for a record price of $268 per buildable sq. ft. — or $11.4 million.
Fraser and 49th:
This vibrant neighbourhood commands top sales prices for investment properties along Fraser Street. Banks are signalling they want to continue to expand into this thriving commercial neighbourhood.
Fraser and 49th:
This vibrant neighbourhood commands top sales prices for investment properties along Fraser Street. Banks are signalling they want to continue to expand into this thriving commercial neighbourhood.
Fraser and East Broadway:
Land prices are up almost 50 per cent in just one year. Local developers are purchasing many properties in this hot new area.
Mount Pleasant (Main and Broadway):
MEC plans to relocate and open a new agship store in Olympic Village at 2nd and Quebec. Retail rental rates are expected to surpass $50 per sq. ft. at Main and Broadway.
