Commercial Real Estate: Stacked industrial building planned for False Creek Flats
A local developer has launched a rare stacked industrial strata building in Vancouver’s False Creek Flats area.
He said the site was used as a bottling company beginning in the late 1920s and then was converted and expanded by the Vancouver Sausage Company in the 1950s.PC Urban purchased the site in February of 2017, Sawchyn said. B.C. Assessment valued the property at $17.15 million as of July 1, 2018. He said most of the industry moved out to the suburbs starting in the 1950s to seek cheaper land and workers, who were also seeking more affordable land.
He said the industrial vacancy rate for Metro Vancouver was 1.9 per cent in the first quarter of this year.“Having industrial on three levels, so 21-foot clear on the ground, 18-foot clear on the second, and then 14-foot clear on the third. That hasn’t been done ,” he said.
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