Allandale District Lot A is a three-building industrial development located on a nearly 4-acre site within the up-and-coming Allandale District on the Westshore of Victoria, B.C. in the City of Colwood. The Property provides over 81,600 sq. ft. of leasable area and is currently 100% pre-leased to Victoria Shipyards on a long-term 15-year lease. The Property was positioned as a forward sale opportunity for investors to own a piece of the Westshore’s future premier mixed-use employment hub and become part of the area’s transformation, with completion immediately following full occupancy.
CBRE NIT-Vancouver prepared a custom, full-scale marketing campaign in collaboration with CBRE’s Investment Properties Group in Victoria. Due to the property’s quality, location and stable long-term tenancy, CBRE was able to successfully transact this property to a private investment syndicate, representing the group’s first acquisition on Vancouver Island.