604-998-6021
1066 W Hastings St, Vancouver, BC for Sale
Office - FOR SALE
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1066 W Hastings St
Vancouver, BC V6E 3X2
Downtown Vancouver


HIGHLIGHTS

  • Irreplaceable Central Business District location, directly connected to the region’s rapid transit network
  • An iconic Class A Property, benefitting from longstanding institutional management.
  • Exceptional historical performance and a WALT of 5.5 years by Net Rentable Area derived from a diversified professional tenant base
  • Medium-to-long term value-add potential through strategic reimagining and additional plaza density to enhance future cash flow
  • Vancouver consistently ranks as the top-performing office market in North America, with 12.5% vacancy and over 1 million square feet of office space
  • A rare opportunity to acquire an office tower of top institutional quality and scale, in an unrivalled Downtown Vancouver location.

OVERVIEW

Jones Lang LaSalle Real Estate Services, Inc. ( “JL L”) is proud to present an opportunity to acquire a 100% freehold interest in Oceanic Plaza located at 1066 West Hastings Street, Vancouve r, British Columbia - a trophy Class A office building featuring over 351,000 square feet of premier office and retail space ( “Oceanic Plaza” or the “Property”). The Property comprises a 26-storey office tower located on a site of approximately one-acre, featuring unique dual street frontages and access points from both West Hastings and West Pender Streets. Given its size and advantageous site positioning, most tenants within Oceanic Plaza enjoy abundant natural light and views of the North Shore Mountains and Burrard Inlet. Oceanic Plaza benefits from an unrivalled position within the core of Downtown Vancouver’s Central Business District and is exceptionally well-served by rapid transit, including the region’s Sk yTrain, West Coast Express, and SeaBus networks. The Property is located steps from the Vancouver Convention Centre, Vancouver Seawall, major downtown hotels, and a wide variety of dining and service options. The Property is 96% leased to a diverse base of tenants with a Weighted Average Lease Term (“WA LT”) of 5.5 years by net rentable area with income underpinned by a diverse tenancy mix. The income is supplemented by a ±210-car parkade and highperforming retail tenants. Significant value-add upside is available through the potential activation of the currently underutilized plaza located immediately east of the office building

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oceanic Plaza

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

26

BUILDING CLASS

A

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

210

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,273 SF

ZONING

DD

APN/PARCEL ID

002-512-653

ASK ABOUT THIS PROPERTY

604-998-6021

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604-998-6021

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