Alaska Street industrial building sold

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.

Western Investor article below

Burnaby manufacturing site sold for double its assessed value

The industrial site has potential for high-density residential development and sold for $12.8 million

Chris McIntyre Lee & Associates for Western Investor

October 4, 2017

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. 

Breakdown: 

Price: $12,800,000 

No. of Units: 2

Lot Size: 33,195 SF

Property Type: Industrial 

Zoning: M-1

2016 B.C. Assessment Value: $6,005,800

City: Burnaby  

Province: B.C. 

Name of Brokerage: Lee & Associates

Milano rising into skyline

The Milano tower at the south foot of Alpha Ave is beginning making its mark in the Brentwood skyline.

Dawson quietly changing

The immediate vicinity around Dawson is quietly changing while Brentwood continues to receive the bulk of the attention.

Porte Development's tower has now passed street level.

Solterra's Milano tower is beginning

 to rise into the Brentwood skyline.

Milano (below) as seen from the Costco parking lot facing north.

Brentwood One is peeking through just to the left of Milano and

Solo's 2nd tower is on the far left of this photo from this view.

Amacon's low-rise development has reached 

full height at Willingdon Ave and Dawson Street

2242 Alpha clearing for development

The site at 2242 Alpha Ave south of Dawson Street is being cleared for a 164 unit, 23 story tower and townhouse development by Monark Group.  this project is situated immediately north of the Milano development by Solterra.

Meanwhile, the Milano tower is rising above ground level next door.

Milano tower development under way on Alpha

As the Brentwood and Solo projects continue to rise and attract attention, the 30 story Milano tower by Solterra Development Corp is now quietly under construction as the site has already been excavated and the foundation is being put in place. The tower will be located at the southern edge of Brentwood Town Centre, away from the future hustle and bustle around Brentwood Station but conveniently close enough to its amenities.

North of Dawson westward

South of Dawson southward

Dawson developing from Gilmore to Douglas

While the Brentwood and Solo developments continue attract focus at Willingdon and Lougheed, Dawson Street is beginning to garner attention along its length between Gilmore Ave and Douglas Road.

The Gilmore Station Development by Onni is making its rounds at the City of Burnaby as it moves ahead for approval.  The massive mixed use development will be situated as a gateway to the Brentwood Town Centre.

Further east at Madison and Dawson, the site has been cleared to make way for a sold out residential mid-high-rise development by Porte Development Corporation.  Another high-rise development just south of there, Fulton House, is being planned for the south foot of Madison Ave.

Eastward from there at Willingdon and Dawson, the foundation for a low-rise residential building above a street-level commercial development by Amacon is being poured.  The corner front will see a new yet to-be-named restaurant.

On the east side of Willingdon, the Milano development at 2450 Alpha Ave is being initiated by Solterra Development south of Dawson.  Further down will see 2 highrise developments at the south foot of Beta reaching Lougheed Hwy and nearly reaching Douglas Rd.   The higher profile development will be one of the largest developments in the area by Concord Pacific.

The Concord Brentwood development will also see a grocery store, likely an Urban Fare-type store, along with other commercial amenities.