A prominent retail and office building in the heart of Vancouver’s Kitsilano neighbourhood is now for sale.
The West 4th Avenue building boasts of high-profile national and local tenants.
These include a Whole Foods Market, Vancity Credit Union, and the David Suzuki Foundation.
Called the West Fourth Building, the property occupies a whole city block between Yew and Vine Streets.
The asking price for the space occupied by Whole Foods Market is $41,975,816, according to Matt Saunders, vice president with Colliers International, the seller's agent.
Saunders stated so to the Straight by phone as the listing for the building seemed to indicate that the nearly 42 million price was for the entire block-wide commercial property.
The property’s 2020 B.C. Assessment value as of July 1, 2019 was $17,455,000, according to tracking by real-estate site Zealty.ca.
The site notes that the ratio of the asking price to assessed value is 2.4. But again, the assumption was the nearly $42 million price, which Saunders said was only the grocery site.
Zealty also notes that the listing for the 2285 West 4th Avenue property offers a buyer’s agent with a 1.5 percent commission.
The listing started on December 9, 2020.
Saunders with Colliers International said that there are a total of 20 units for sale at the building, including the space used by Whole Foods Market.
Saunders also said that he was not at liberty to disclose further details.