FOR SALE | 31,529 Sq. Ft. A-Class Flex Industrial Office Building

Industrial for Sale
Catylist Listing ID: 30562313
Property Subtypes: Free-Standing, Industrial-Business Park, Mixed Use, Warehouse/Distribution
Building Size (RSF): 31,529 SF
Gross Building Area: See Agent
Sale Price: See Agent
Docks/Doors: 5 Docks, 3 Doors
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/18/2020

Overview / Comments

CBRE’s North Shore Specialists and Investment Properties Group have teamed together to present the opportunity to acquire 50 Fell Avenue, a professionally managed state-of-the-art A-Class flex industrial/office building located within the “Harbourside Business Park” and situated at the foot of the North Shore Auto Mall in the City of North Vancouver.

The property is improved with 31,529 sq. ft. of high-quality flex industrial and office space, approximately 21,835 sq. ft. of which is warehouse industrial space on the main floor featuring 24’ ceiling heights and minimal columns. The second floor features over 9,694 sq. ft. of modern office space’s with large boardrooms & kitchenettes.

The property is further improved with both dock loading and grade loading doors, an accessibility elevator providing access to the 2nd floor, over 6,000 sq. ft. of yard space on the North side of the property, and 42 surface parking stalls.

The Property is well positioned to take advantage of North Vancouver’s highly constrained industrial and office markets, with vacancy rates as low as 0.8% (2nd lowest vacancy rate in Metro Vancouver) and 3.2% respectively. Upwards pressure on rental rates has been increasing throughout 2019, and vacancy rates are expected to remain compressed in the coming year.

Additional Details

Nearest CMA: Vancouver
Regional District: Greater Vancouver
Parcel ID: 024721778
Zoning: CD-360 (COMPREHENSIVE DEVELOPMENT)
Site Description: 50 Fell Avenue is ideally situated across the street from the North Shore Auto Mall in the Harbourside Business Park in the City of North Vancouver; a highly sought-after location for businesses given its waterfront location. The property is close to a variety of retail amenities & services along Marine Drive, including Capilano Mall; North Vancouver’s 2nd largest shopping center, and is within walking distance to Lonsdale Quay Market & SeaBus via the Spirit Trail or by transit, with Immediate access to public transportation directly outside of the property.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Excellent
Year Built: 2001
Construction/Siding: Concrete - Tilt up
Parking Type: Surface
Total Parking Spaces: 42
Freight Elevators: 1
Legal Description: Lot 19, District Lot 2654, Land District 37, LMP 45092

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Contact

Photograph of Listing Agent

Yashar Khalighi

CBRE Limited Commercial First Member
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