Industrial Property Near Metrotown with Redevelopment Potential | $1.9M Transaction
Successful Sale of Industrial Property Near Metrotown with Redevelopment Potential
Case Study: Securing 5791 Sidley Street, Burnaby
On January 30, 2020, we successfully assisted our client in acquiring the industrial property at 5791 Sidley Street, Burnaby, for $1,900,000. This transaction not only provided an immediate operational facility for the client’s business but also offered significant future redevelopment potential.
Transaction Details
- Property Address: 5791 Sidley Street, Burnaby, BC
- Sale Price: $1,900,000
- Sale Date: January 30, 2020
- Property Type: Industrial building with redevelopment potential
- Building Size: 6,165 SF
- Zoning: M2, allowing a wide variety of light and general industrial uses
Property Overview
The property is a free-standing industrial building located in a rapidly developing area near the Metrotown retail hub. It is within walking distance of the Royal Oak SkyTrain station and other transit options, enhancing its accessibility. The building had recently undergone a complete renovation prior to the sale, making it suitable for immediate use. Additionally, the property’s M2 zoning permits a variety of light and general industrial uses, and its location next to a newly opened brewery adds to its appeal.
Challenges and Solutions
Our client sought an industrial property that could serve immediate business needs and offer future multifamily redevelopment potential. The initial listing price of $2,450,000 exceeded the client’s budget.
Conclusion
Through persistent negotiation and a comprehensive search strategy, we successfully negotiated the price down to $1,900,000, aligning with the client’s financial parameters.
Testimonial
"I was searching for a commercial building to run my business right away and be part of a potential future multifamily development site in Burnaby. It seemed impossible at first as I was frustrated with my search. After meeting Sam Emam, he put forward a program and communicated with me weekly to achieve my business and investment goals. We found a property that I can use right away and it has future medium density multifamily development potential. Sam negotiated a phenomenal price on my behalf and we’re very happy with the outcome. Sam has the will and the skill to get the job done!"
Stay Informed on Greater Vancouver’s Commercial Real Estate
Get exclusive market insights, top investment opportunities, and success stories from across Greater Vancouver.
