With three more sites currently for sale, Chevron continues to sell off locations, profiting off their redevelopment potential
Western Investor
Two more Vancouver Chevron stations have shut down in favour of potential residential development.
One of the stations, located at the corner of West 16th Avenue and Cambie Street, has already closed in advance of the sale’s completion. The property’s assessed value is $7.96 million – however, sale prices for both of the stations have not been disclosed.
The second station at West 41st Avenue and Oak Street will close Aug. 18 and has an assessed value of $14.61 million.
Earlier this year, Chevron locations on West Georgia and Dunbar Street sold for $72 million and $19.4 million, respectively. The West Georgia site was purchased by Anthem Properties and will be redeveloped into high-end residential towers in conjunction with the adjacent White Spot property. Both locations sold for well above assessed value.
Three other Chevron locations are currently up for sale at Broadway and Alma Street, West 4th Avenue and Macdonald Street and West 59th Avenue and Cambie Street. The stations remain open.
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