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Westbank Buys 1550 Alberni St for $47M


1550 Alberni St has been coveted for its potential as a prime residential development property near Stanley Park and Coal Harbour. That drew Westbank Projects Corp to pay $47M to Wicklow West Holdings for the office building there. Macdonald Commercial Real Estate Services’ Clare Stevens, who co-brokered the deal with DTZ Vancouver Real Estate’s Steve Schweigert, says the site attracted "significant interest from high-profile developers.” The 100k SF office building, constructed in 1972—and renovated in 1996—was not exclusively listed. "It will become the site of a trophy residential development in the future,” Clare says.