1308 Adanac, located on the outskirts of False Creek Flats in East Vancouver, is a five-storey mixed-use office and light industrial building – one of the first buildings to come to market in the False Creek Flats neighbourhood spearheading the revitalization of the area. The unique design of the Property was positioned as a link between tenants and their demands from their landlords, having the advantage of a fully built-out property that allowed tenants to move into a space that was ready to go. Surrounded by an abundance of amenities, such as parks, community centres, retailers, restaurants, and cafes, the Property presented investors with an opportunity to be at the forefront of the neighbourhood’s significant development. As a result, the purchaser acquired a long-term investment property within the future hub of False Creek Flats for economic productivity and sustainability.
Through a targeted marketing campaign, CBRE successfully transacted the asset to a local real estate development company specialized in industrial and commercial. This transaction was structured during early construction (on a forward sale basis), with completion shortly following the occupancy permit.