An industrial building at 4455 Alaska St has been sold for more than double its assessed value. The buyer likely purchased the site with the aim of rezoning it for a high density residential development.
The site of the building is situated
immediately west of the Willingdon Ave overpass.
East of the overpass (below) along Alaska St are more
industrial buildings and the rising Milano tower on Alpha Ave.
The property is a two-storey warehouse and office space with two leasable units, with 25,760-square-feet of gross leasable area. The industrial building is situated on a 33,195-square-foot lot currently zoned for manufacturing use. However, the lot has potential for high-density residential development upon rezoning. The property sold for more than double it’s assessed value of just over $6 million.
The property is located at 4455 Alaska St., Burnaby.