Amazon to take over entire former Canada Post building in downtown Vancouver

Amazon | December 10, 2019

Amazon’s lease of the entire former Canada Post building in downtown Vancouver is large enough to reduce the city’s projected office vacancy by two per cent, commercial property insiders say. Last week, the it was reported that Amazon had agreed to lease all of the 1.13 million square feet of QuadReal’s two-tower building called The Post, the former Canada Post site on Georgia Street that is now undergoing a major redevelopment. Currently, Vancouver’s downtown office vacancy rate sits at 2.4 per cent, which is at or near the lowest in North America, said Jamil Jamani, a senior market analyst in Vancouver with CoStar Group, an international property data company.

Spotlight

As we usher in the new year, one thing is for certain… if you plan to buy or sell a house this year, you need a real estate professional on your team! There are many benefits to using a local professional! Pick a pro who knows your local market and can help you navigate the housing market!

Spotlight

As we usher in the new year, one thing is for certain… if you plan to buy or sell a house this year, you need a real estate professional on your team! There are many benefits to using a local professional! Pick a pro who knows your local market and can help you navigate the housing market!

Related News

BROKERAGE

HPI Acquires 55 Acres to Build 829 Multifamily and Single Family Rental Units

Davidson Bogel Real Estate brokerage firm | May 26, 2022

Davidson Bogel Real Estate (DB2RE), a leading land brokerage firm based here, announced the sale of 55 acres in north Fort Worth. HPI Real Estate Services & Investments (HPI), headquartered in Austin, Texas, acquired the property at the southeast corner of Bonds Ranch Road and Blue Mound Road. HPI’s plans include: Approximately 636 multifamily rental units. Approximately 193 single-family rental units with attached garages and yards. Amenities will include clubhouses, resort-style pools, pickleball courts, and walking trails. We are focused on growing our North Texas portfolio as it is one of the strongest real estate markets in the country. Strong employment and population growth in the Alliance Corridor has created a demand for high-quality rental housing. We look forward to breaking ground in early 2023 and residents moving into both our apartments and single-family homes the following year.” Tim Shaughnessy, President of HPI Multifamily Collins Meier, Ryan Turner, David Davidson Jr., and Edward Bogel of Davidson & Bogel Real Estate brokered the transaction. “The demand for rental product continues to accelerate with growth in renters by choice and as home buyers battle rising interest rates paired with historically high home prices,” said David Davidson Jr., co-founder of DB2RE. HPI Real Estate Services & Investments is a full-service commercial real estate firm with offices in Austin, Dallas, Houston, and San Antonio. The company has more than 30 years of experience developing, managing, and investing in multifamily, self-storage, senior, office, and industrial real estate. About DB2RE Davidson Bogel Real Estate (DB2RE) is a boutique land investment advisory group and brokerage firm headquartered in the Dallas-Fort Worth Metroplex. Founded by David Davidson, Jr. and Edward Bogel in 2015, the base principal of the company is exceptional client service with investment and development of land throughout Texas and Oklahoma as the focus. DB2RE concentrates on land acquisitions, dispositions, and investment sales for families, trusts, and developers of retail, multi-family, industrial/mixed-use, and single-family communities.

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Starboard Commercial Real Estate Announces Sale of 893 Folsom Street in San Francisco

prnewswire | October 21, 2020

Starboard Commercial Real Estate, privately owned and locally-based San Francisco commercial real estate firm, announced the sale of 893 Folsom Street, located on the Folsom Street Corridor in the SOMA neighborhood of San Francisco.This centrally located property offers more than 12,293 total square feet and quick and convenient access to both Caltrain and BART, as well as several popular restaurants, bars, and specialty cafes. The property also includes an additional 8,500 square foot lot, allowing for future development including housing, office space, hotel lodging, or mixed-use.

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INVESTMENTS

Harbor Group International Acquires Workforce Housing Portfolio in North Carolina's Research Triangle

Harbor Group | January 28, 2022

Affiliates of Harbor Group International, LLC ("HGI"), a privately owned international real estate investment and management firm, today announced the acquisition of an 8-asset portfolio of workforce housing communities in North Carolina's Research Triangle for $475 million. The Newmark team of Jason Kon, Henry Stimler and Bill Weber represented the seller, Dasmen Residential LLC, and facilitated the debt for the acquisition. Located throughout the Research Triangle, an area known for its research universities and STEM companies, the portfolio comprises 2,356 units and features four communities in Durham, three communities in Raleigh and one community in Charlotte. HGI plans to invest approximately $21.9 million across the properties to renovate 25% of the interior units. Harbor Group Management Company, the property management arm of HGI, will assume management of the entire portfolio. The Research Triangle is an important target market for HGI as we seek to acquire well-located communities in high-growth markets, As the area's high-paying STEM jobs continue to attract new residents, we see opportunity to leverage our expertise in owning and operating similar communities in the region to generate rent growth amid increasing demand for housing." Richard Litton, HGI. We are proud that we were able to bring these two great firms together to do this unique and large off-market transaction. Dasmen entrusted the Newmark team to execute this deal in a very quiet and select manner, culminating in a great outcome for both parties." Kon. The Raleigh-Durham properties within the portfolio have direct access to Research Triangle Park, placing residents in proximity to over 22.5 million square feet of office and lab space and more than 275 businesses. Since 2020, more than 9,000 jobs have been created in the Research Triangle area, driven by the expansion of technology and life science companies, with major employers including Bayer Crop Science, Cisco, Biogen and IBM. Apple's first East Coast campus is currently under development in Research Triangle Park, and is projected to bring an additional 3,000 jobs to the area. HGI is an active investor in the southeastern U.S. markets. With the addition of the Research Triangle portfolio, the firm currently owns and manages nearly 5,000 apartment units in North Carolina. About Harbor Group International Harbor Group International, LLC, and its affiliates control an investment portfolio of $18 billion including 4.9 million square feet of commercial space throughout the United States and the United Kingdom and 60,000 apartment units in the United States. In addition to its corporate headquarters in Norfolk, Virginia, HGI maintains offices in New York, Baltimore, Los Angeles, and Tel Aviv. About Dasmen Residential LLC Dasmen Residential LLC is a privately held real estate investment and management firm that owns and operates multi-family properties in major cities throughout the United States. We make opportunistic investments in growth markets and employ a range of strategies to create value and sustain long term asset appreciation. About Newmark Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.5 billion for the trailing twelve months ending September 30, 2021. Newmark's company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world.

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