604-996-5916
600-604 Columbia St, New Westminster, BC for Sale
Office - FOR SALE
1/5
null | Request Cap Rate

600-604 Columbia St
New Westminster, BC V3M 1A5


HIGHLIGHTS

  • 100% Occupied 32,538 Square Foot Office and Retail Asset With Flexible Investor and User Lease Terms
  • Central Metro Vancouver Location With Excellent Transit and Vehicle Access, Within 350 Metres of Two Expo Line SkyTrain Stations
  • Limited and Diminishing Supply of Primary New Westminster Office Buildings
  • Highly Amenitized Retail and Green Space Node With Waterfront Views

OVERVIEW

Jones Lang LaSalle Real Estate Services, Inc. (“JLL”) is pleased to present the opportunity to acquire a 100% freehold interest in 600 Columbia Street, New Westminster (the “Property” or the “Spencer Building”). The Spencer Building offers 32,538 square feet of well-maintained heritage office area, currently 100% occupied with a diverse roster of 5 longstanding tenants including Corrections Canada, BAAS Premium Offices, and St John Ambulance. The Property offers a flexible rent roll to both income investors and strategic owner-user profiles, with a short-term WALT of 2.2 years and flexible lease terms offering a pathway to near term occupancy or income enhancement. Constructed in 1906 with a timeless brick facade, the Spencer Building spans 4 storeys of office area on the prominent corner of Columbia Street and 6th Street, offering unencumbered waterfront views across all levels. Attractive dual frontage onto Front Street offers retail uses fronting the new Westminster Pier Park expansion, constructed as part of Bosa Development’s Pier West development. The Property has been well maintained, with over $400,000 of capital upgrades over the last 5 years including an elevator modernization.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Spencer Building

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

6

BUILDING CLASS

B

YEAR BUILT

1906

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,502 SF

ZONING

C-8

APN/PARCEL ID

001727567

ASK ABOUT THIS PROPERTY

604-996-5916

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604-996-5916

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