Lee & Associates Sells Out Office Units at the ‘Mahogany at Mill Lake’ Development in Abbotsford, BC
- Mixed-use residential with retail and two floors of office
- Central location to service all of Abbotsford
- Walking distance to Abbotsford Regional Hospital and Cancer Centre
- Energy efficient geo-thermal heating
- Parking for staff and visitors on-site
The 26-storey Mahogany Tower located at 2180 Gladwin Road is the tallest building in Abbotsford. This is a pioneering project in a mostly detached residential area; no supporting commercial in the immediate area.
The ground floor retail units and two office units were sold by the developer. With occupancy in December 2018, the space was listed with a local brokerage, but only one unit was sold and the project lost momentum. The listing was cancelled in April 2019 with over 60% office units still vacant.
Using their proven market strategies, database of qualified investors and full cooperation with local brokers, Chris and Sean helped achieve the Seller’s objectives in a timely manner.
Chris and Sean successfully negotiated the sale of the remaining eight office units in only five months and achieved a new highwater mark for Fraser Valley office space at roughly $500 per square foot. Mahogany at Mill Lake is SOLD OUT!
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ABOUT LEE & ASSOCIATES VANCOUVER
Celebrating 50 years in business, Lee & Associates Vancouver is a full service commercial real estate firm. Lee & Associates is the largest broker-owned firm in North America with over 60 offices in the Canada and the United States. Lee & Associates provides superior market intelligence in office, industrial, retail, investment, and appraisal to meet the specialized needs of our clients. For more information, visit leevancouver.com.