The Spencer Building, 600 Columbia Street, New Westminster

Jones Lang LaSalle Real Estate Services, Inc. (“JLL”) is pleased to present the opportunity to acquire a 100% freehold interest in 600 Columbia Street, New Westminster (the “Property” or the “Spencer Building”). The Spencer Building offers 32,538 square feet of well-maintained heritage office area, currently 100% occupied with a diverse roster of 5 longstanding tenants including Corrections Canada, BAAS Premium Offices, and St John Ambulance.

The Property offers a flexible rent roll to both income investors and strategic owner-user profiles, with a short-term WALT of 2.2 years and flexible lease terms offering a pathway to near term occupancy or income enhancement.

Constructed in 1906 with a timeless brick facade, the Spencer Building spans 4 storeys of office area on the prominent corner of Columbia Street and 6th Street, offering unencumbered waterfront views across all levels. Attractive dual frontage onto Front Street offers retail uses fronting the new Westminster Pier Park expansion, constructed as part of Bosa Development’s Pier West development. The Property has been well maintained, with over $400,000 of capital upgrades over the last 5 years including an elevator modernization.

Located in the geographic centre of Metro Vancouver, New Westminster is one of the most accessible suburban office locations for small to medium sized office users. Direct access to Columbia Station (200 metres) and New Westminster Station (350 metres) offer seamless rapid transit access to Surrey, Burnaby, Downtown Vancouver, and Langley (under construction). Furthermore, the new $1.637 billion 4-lane Pattullo Bridge replacement project has alleviated the long-standing bottleneck from North Surrey and added new connections for vehicles, cyclists, and pedestrians between the 2 municipalities.