$264 million deal is the largest retail acquisition in the Co-op’s history

(Most of the stations being sold are in B.C. and Alberta)

Saskatoon-based Federated Co-operatives Limited (FCL) is investing $264 million to purchase 181 Husky retail fuel sites in Western Canada from Cenovus Energy Inc., the largest retail acquisition in the Co-op's history.

The December 2021 announcement was made on behalf of local Co-ops in the Co-operative Retailing System.

The acquired retail fuel sites include a mix of gas bars, on-site car washes and convenience stores. Once the deal is complete, FCL said, it will transfer the sites to several independent local co-ops across Western Canada. 

"These new locations will strengthen our presence in Western Canada and will bring our unmatched service and support to new geographic areas,” stated the FCL in a release.

The deal is part of about $660 million in asset sales Cenovus announced December 7. It’s subject to regulatory review by the Competition Bureau of Canada, which may determine which sites stay in the deal.

Those that stay will be transferred over to local Co-ops, while others will remain with Husky branding for a short time while being suppled, according to FCL.

FULL STORY

The Subject Properties are located on West Broadway in the heart of the well-established Broadway corridor. The Property is in close proximity to the Canada Line, Granville Island, Vancouver General Hospital, and the South Granville shopping district with easy access to Downtown Vancouver.

Positioned above the Subject Properties is the striking, Spruce, development which boasts 11 storeys and 49 condo units. These four (4) strata units are fully leased to three (3) tenants with strong market rents and various lease terms in place (lease specific). 

JUST REDUCED!!GREAT INDUSTRIAL NO CONDO FEE BUILDING . FRONT IS VACANT NOW HAS GROUND LEVEL SHOWROOM AREA, KITCHENETTE + 2 OFFICES , HALF BATH + 3PCE BATHS . 2ND FLOOR RECEPTION , CONFERENCE ROOM , 4 LARGE OFFICES 2 HALF BATHS. REAR DRIVE IN 12'X12' INTO WAREHOUSE + 2 LARGE STORE ROOMS . 2ND FLOOR OFFICE/MEZZ AREA. 

3300 SF BUILDING AREA FOOTPRINT + MEZZ . FAIRLY NEW BUILDING . 4 ASSIGNED PARKING STALLS FRONT + REAR PARKING + LOTS OF STREET PARKING AS THERE IS NO BUILDINGS IN FRONT. GREAT OWNER OPERATOR POTENTIAL OR MIX TENANTS. OWNER MAY CONSIDER LEASING OPTIONS ON FRONT OFFICE SPACE ALL FURNISHED. REAR TENANT NEEDS 24 HRS NOTICE. ALL OFFERS ENTERTAINED!!

Western Investor’s annual forecast of top investor towns looks at five centres that are riding out the pandemic and look solid for investors into 2022.

No. 1: Victoria -- The play: industrial strata

No. 2 Kelowna -- The play: land, multi-family strata

No. 3: Surrey -- Plays: industrial, residential, retail

No. 4: Penticton -- Play: recreational real estate, multi-family

No. 5: Winnipeg -- Play: industrial strata

BEAUTIFUL LICENSED 50 SEAT JAPANESE RESTAURANT IN SOUTH SURREY'S HIGH STREET DISTRICT WITH OVER 1,422 SQ FT OF SPACE AND GOOD SIZE KITCHEN AND 2 HOODS!

THIS LOCATION WITH IT'S HIGH CELLINGS AND UPSCALE DECOR CAN ACCOMMDATE ANY TYPE OF CATERING AND TAKE-OUT EXCEPT SUSHI & CHINESE (NOT ALLOWED) RENT IS APPROXIMATELY $6,088.12/MO WITH THE LEASE GOOD UNTIL JUNE 30,2022 + RENEWAL OPTION.

STRATEGICALLY LOCATED IN HIGH STREET DISTRICT OF SOUTH SURREY WITH PLENTY OF SHOPS COMING TO THE AREA! PLENT OF PARKING! GREAT OPPORTUNITY!

On the eastern edge of downtown Vancouver, the redevelopment of the former Canada Post site on Georgia Street signals what is being seen as an eastward migration of Vancouver’s commercial real estate.

The Post, by QuadReal Property Group, which completes in 2022 incorporating the old post office into a mammoth mix-use of retail, residential and office towers, has seen U.S. tech giant Amazon take all 1.07 million square feet of office space.

This is more pre-leasing than in the 15 other downtown office towers underway, combined.

East of downtown, the first of nearly a dozen new proposed office projects is complete in Railtown. Across the viaduct into East Vancouver, Strathcona is seeing a development boom, Mount Pleasant is welcoming an explosion in new construction near the new SkyTrain Broadway extension and, in the 450-acre False Creek Flats, developers are staking office sites as the largest medical project in Canada begins construction.

Read the report in the link below:

Vancouver’s commercial real estate action tilts east