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real estate



Mall sales scarcity forcing owners’ hands



eloitte Real Estate’s recent Crane Survey highlights a trend in retail mall ownership: there are few opportunities to buy malls, leading prospective mall owners to either build new developments or to reinvest in existing assets. The report notes that a handful of groups own the

majority of large retail assets in Metro Vancouver. “Most of the larger shopping centres in Canada are owned by a select few groups, and they haven’t been sellers in recent years,” said Andrew Evans, who coauthored the report. “It’s not that there was a lull this year. That’s just the way the market is. The guys want to hold onto these trophy assets because they per-

form well.” Only two retail assets have sold with a price tag of $50 million or more in the past year. The Village at Thunderbird Centre was acquired by Sun Life for a reported $148 million, and the plaza at New Westminster Station was acquired by First Capital Realty for $100 million plus an earn-out of up to $20 million. Having few opportunities

David (DJ) Evans


Colonial Pacific Realty

White Rock - Ocean Park

12895 18th Ave., South Surrey White Rock Private yard. 4 bedrooms and 4 bathrooms. 3 levels, 3,388 sq. ft. of living space. 7,377 sq. ft. corner lot. 24 x 24 detached garage. Walk to shopping and all levels of schools. Also 1,250 sq. ft. self contained 1 bedroom suite, with private entrance.



to buy malls means there are two options for developers: build new malls or expand existing properties. New malls in various stag-


es of planning and development include Ivanhoe Cambridge and the Tsawwassen First Nation’s Tsawwassen Mills project, Property De-

velopment Group’s Tsawwassen Commons project, and YVR and McArthurGlen Group’s planned outlet mall on Sea Island.



Central West End, rainscreened strata with friendly neighbours for comfort, secured garden courtyard entry to your own front door for safety and convenience. Thoughtful renovation with attention to quality and detail makes this two bedroom, two bath, two patio home a winner. End unit with only one common wall and all rooms including the kitchen overlooking gardens, trees and decks. Too many features to list but you can be sure the kitchen will please along with the two new baths, large bedrooms, laminate floors, insuite laundry and amazing o u t d o o r space. Pets and rentals welcome! $

You will appreciate this sharp price and concrete construction of this two level two bedroom two bath two balcony two side by side parking home in super central location. Rare opportunity for unusual townhome style suite (not ground floor) in well maintained strata with easy access to downtown, Granville Island, Kits beach, shops, services, entertainment, schools, hospitals and major routes. Perfect for all ages and lifestyles this home will appeal to those looking for large rooms, outdoor space, comfort and convenience. Quiet, private, position in the complex steps to amenities. Approx 1000 sf inside. Asking $549,000 awaiting your offer!

NEW LISTING You can’t beat West of Denman for location steps to Stanley Park, English Bay and Coal Harbour. Sought after character building offers corner suite with real oak floors inlaid with mahogany, over height ceilings and spacious rooms to accommodate house size furnishings. Wrap around corner windows, two huge bedrooms, one with walk in closet and oversize kitchen will please those downsizing from houses. The solid construction of the building, charm and style and upgrades of all major systems will give you peace of mind for years to come. Offered at $489,000




liz carney


0 ES* 0 ,0 TIV 5 $2 CEN TO IN UPYER BU



604.685.5951 • 604.603.3095 421 Pacific Street, Vancouver


It’s decision time on the new place. Does the other development really have a better hand? Before you play your hand visit the Easton today and ask us about our all inclusive package:

Net GST + Property Transfer Tax + Transitional Tax* 7 Stainless steel Whirlpool and Samsung appliances: Refrigerator, stove, dishwasher, microwave, garborator, full size washer and dryer One parking stall and one storage locker (no extra charge) Torlys European wide plank Laminate Hardwood Floors in living, den, entry & kitchen

Polished Quartz Counters with undermount sinks in kitchen and all bathrooms Choice of 2 fabulous color schemes (just 3 weeks left before they’re set) Best location quietly located just 5 minutes away from new Evergreen Line Station Burquitlam (away from busy roads and noise) Low deposit until move-in Fall 2013

Choice of Grohe Concetto or Kohler Elate pull-out kitchen faucet

This SPECIAL ALL-INCLUSIVE offer applies to new sales Nov 1-30, 2012. Just 10 Luxury Two bedroom homes value priced from $348,800 to $388,800 T: 604.936.2012

Presentation centre:

552 Clarke Road, Coquitlam Open daily noon - 5 pm (except Friday) 5 blocks north of Lougheed Mall in the Burquitlam Plaza next to UPS

*Contact salesperson for details. ^ Sales Tax rates are those in effect on date of purchase. _ST PTT and TT are net after any exemptions or rebates which may apply to qualiaed purchasers. Limited time offer. Sales by disclosure statement. bllaire Properties (Easton) Inc. Red Dot REM Ltd. 604531`500.

Profile for Glacier Digital

Vancouver Courier November 16 2012  

Vancouver Courier November 16 2012

Vancouver Courier November 16 2012  

Vancouver Courier November 16 2012