January 28th, 2022
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Commercial real estate sales click over $1 billion a month in Lower Mainland – Commercial real estate transactions, led by land sales, hit $3.25 billion during a three-month period in 2021. Third-quarter sales surge 64.1% as compared with the same period last year, according to the Commercial Edge report from the Real Estate Board of Greater Vancouver.
The $1.89 billion in land purchases dominated the action, and land sales continued to roar into the fourth quarter. Two of the biggest land deals of 2021 took place right at the end of the year: the more-than-$300 million purchase of 27-acres near the Olympic Oval in Richmond, and a $155 million deal for 14-acres along the Lougheed Highway in Burnaby.
To read more about this story, check out the article on Western Investor.
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