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Metro Vancouver Acquires Metrotower III For Its New HQ

Vancouver Office

Metro Vancouver has acquired Metrotower III from Ivanhoé Cambridge for $205M, and the 29-storey Burnaby office building will serve as the regional government’s new HQ. Citing a growing population and “increasing demands on service delivery across the organization and throughout the region,” Metro Vancouver said the purchase of the LEED Platinum tower is about “planning for the future based on sustainable practices with a commitment to maintain the livability of the region.” The tower, opened in 2014, has 414k SF of AAA office, and is serviced by SkyTrain. Metro Vancouver’s current offices (4330 Kingsway and 5945 Kathleen Ave) will be disposed of at market value to offset Metrotower III acquisition costs.