Willingdon Park | Q1 2018 Commercial Real Estate Transaction

April 3, 2018 / by Min Kang

Property Overview

Willingdon Park is Metro Vancouver’s most prestigious office park, comprising nine Class A/AAA office buildings (~1,000,000 SF) and situated on an expansive 2.3-acre site, centrally situated in Burnaby, B.C. The park has been institutionally developed, owned and maintained since its inception. Willingdon Park benefits from exceptional curb appeal with best-in-class building design, stunning architectural elements and unique building features. All nine buildings have achieved either silver or gold certification through BOMA Canada, which acknowledges excellence in environmental building and standards. Minutes away from the bustling Brentwood neighbourhood, Willingdon park is centrally located in the Lower mainland and strategically positioned at key transportation crossroads, allowing the Property to take advantage of exceptional visibility and accessibility for both tenants and visitors.


Project Overview

CBRE National Investment Team (NIT) Vancouver, in collaboration with Luke Gibson (CBRE’s leading suburban office leasing agent), was engaged by the Healthcare of Ontario Pension Plan and Triovest Realty Advisors as the exclusive agents in the disposition of Willingdon Park. Our team administered a comprehensive global marketing campaign of Willingdon Parkas a signature portfolio which garnered significant attention from multiple local, national and foreign investors (~$14 billion in market interest). Due to the scale of this exclusive offering, CBRE tailored a disposition strategy to sell the Park to multiple purchasers which allowed our client to maximize value. By Q1 2018, NIT Vancouver successfully transacted all nine buildings within the Park to three unique purchasers: a local private investor, an American investor, and an owner-user. NIT-Vancouver is delighted to have delivered both an exceptional and creative result for one of CBRE’s most important clients.

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