Real Estate

Vancouver-based Onni Group has finalized its purchase of the land where The Seattle Times' former headquarters stands, reports the Puget Sound Business Journal.

First Capital Realty (TSX:FCR) has completed the acquisition of the retail properties at the Village on False Creek for $46.1 million, including closing costs, the developer announced December 3.

The dollar value of commercial property sales in the Lower Mainland increased in 2013’s third quarter, while the number of sales fell, according to the Real Estate Board of Greater Vancouver (REBGV).

Foreign buyers accounted for 60% to 65% of all the retail real estate and half of all the office buildings sold in downtown Vancouver over the past 15 months, according to survey by CBRE, which looked at all sales priced at $50 million or less.

Offering generous incentives appears to have paid off for the Censorio Group which broke ground November 26 on its 21-storey Elliott Street tower in New Westminster.

The majority of top real-estate industry executives in Canada rank not only Calgary and Edmonton but also even Saskatoon as a better real estate investment destination than Vancouver into 2014.

Low vacancy rate and Metro supply boosts city’s office park development futures

A Vancouver-based real estate investment trust (REIT) is betting that big returns on residential rentals will be found south of the border.

Royal LePage has bought three of its franchised brokerages – in Coquitlam, Port Coquitlam and Surrey – and will run them corporately. This is the first time in a decade that the Toronto-based real estate brokerage has expanded its corporate operations outside Toronto.

A West End business group is "thrilled" that a community plan for the area was approved this week by Vancouver city council.