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55 Acres of River Front For Sale In New Westminster
5 Feb, 2008, Vancouver, BC
Canfor to Sell Lands Along Fraser River
Canfor (TSX: CFP) is selling 55 acres of land in New Westminster, BC, which is a rare, large block of development land in Metro Vancouver. Commercial real estate firm, Cushman & Wakefield LePage has been chosen to handle the sale.
The property is located at 430 Canfor Avenue at the south end of Braid Street in New Westminster. It is positioned along the planned, four-lane North Fraser Perimeter Road, is just blocks away from the TransCanada Highway #1, and is close to both the Braid and Sapperton SkyTrain Stations.
There is also extensive water frontage as a result of being between Brunette Creek and the Fraser River.
“There are no properties like this available in the Metro Vancouver market today,” said Hendrik Zessel, Senior Managing Director for Cushman & Wakefield LePage. “The size, location and zoning give a developer options for a viable waterfront redevelopment.”
“The site will be a significant employment centre once redeveloped,” said Zessel. "Being between two SkyTrain stations, and close to so many arterial routes, the property presents great potential for sustainable development and sustainable jobs.”
The property is designated as Comprehensive Development under the City of New Westminster’s Official Community Plan.
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Canfor is a leading integrated forest products company based in Vancouver, British Columbia (BC) with interests in 33 facilities in BC, Alberta, Quebec, Washington state, and North and South Carolina. The company is the largest producer of softwood lumber in Canada while also producing oriented strand board (OSB), plywood, remanufactured lumber products and specialized wood products. Canfor also owns a 50.2% interest in Canfor Pulp Limited Partnership, which is one of the largest producers of northern softwood kraft pulp in Canada and a leading producer of high performance kraft paper. Canfor shares are traded on the Toronto Stock Exchange (TSX: CFP).
Cushman & Wakefield LePage is the Canadian operation of Cushman & Wakefield, the world’s largest privately owned commercial real estate services firm with more than 12,000 professionals in 201 offices in 57 countries. The firm delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. Cushman & Wakefield also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, visit www.cushmanwakefield.com.
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