3652, 3657, 3659 and 3665 Wayburne Drive is a well-maintained industrial property with four individual stratified units encompassing a large land footprint on a 2.28-acre site located in Burnaby, B.C. With excellent exposure and street frontage along Wayburne Drive, the Property was positioned as a value-added opportunity in a central location with immediate access to the Trans-Canada highway for convenient transportation access for supply chain logistics. The Property presented investors with the rare opportunity to acquire industrial products in an extremely tight industrial market with a significant opportunity to add intrinsic value through increasing in-place rents to meet market rates upon tenant turnover. There was also potential to either assume occupancy of two of the strata units or take advantage of very strong market leasing rates.
Through a comprehensive marketing campaign, CBRE successfully transacted the asset to a qualified national distribution company.