The new downtown Vancouver Sun Commercial real estate group has purchased the former Sears building on the corner of Robson and Granville in the City Centre area, according to an updated retail real estate report from real estate company CBRE. The former Sears Building, formerly known as the Vancouver Convention Centre, is owned by an entity called The City Centre Group. The City Centre Group is led by Jonny Evans, who co-owns many properties in the Vancouver area, including a historic Victorian house at the top of Robson Street in Kitsilano. The Sun Commercial real estate group purchased the former Sears building for an undisclosed price and plans to renovate the interior and exterior of the building.
According to the CBRE report, the City Centre Group is seeking to convert the building into a luxury shopping and entertainment complex that will include stores, restaurants, and nightclubs in addition to housing. The group will pay several million dollars for the property, which is in the same area as the former Robson Street Promenade. The CBRE report says that the City Centre Group is also interested in purchasing a former downtown Vancouver shopping mall, which is located between Robson and Granville. However, the report does not mention which retail store chain will own or manage the mall.
The new downtown Vancouver Sun commercial real estate group is the latest in a string of major developments in the core of the city. The former Vancouver Convention Centre is now a boutique hotel, the former Robson Street Promenade has been renovated into a pedestrian mall, and the former Pacific Place Shopping Centre will soon be the main retail outlet for West Van’s second-largest mall, the forthcoming Westshore Mall. The City Centre Group will also purchase a former Sears building in Kitsilano, according to the latest retail real estate report from CBRE.
The Sun Commercial real estate company is led by Jonny Evans, who co-owns a number of properties in the Vancouver area. The company’s properties range from office buildings to shopping centres, shopping malls, luxury condominiums, and even an art museum and a public library. Mr. Evans is also one of the developers behind the controversial Millennium Tower Skyline in Vancouver’s Downtown Eastside.
The new downtown Vancouver Sun commercial real estate group also includes the Vancouver Sun Group, an entity that buys vacant land, renovates it and then sells it to other retailers in the area, according to the latest retail real estate report from CBRE. The company also owns properties throughout Burnaby, Surrey, and Langley.
The new group is working with the new Vancouver Sun Group, a prominent property owner who previously developed the West End. It is a joint venture between the company and the new real estate group. The companies are planning to have an official announcement in the near future.