One of Vancouver’s most recognizable — but under-utilized — retail hubs in the downtown core has just hit the real estate market.
The International Village mall on Pender Street in Chinatown is for sale, along with Paris Square (which houses T&T Supermarket), and a mall in Coquitlam.
The property is being marketed by the CBRE as the Henderson Retail Portfolio, and an asking price has not been disclosed.
The three properties sit on more than 11 acres of prime real estate, although the agency says there are ample opportunities to drive up the value through redevelopment and repositioning strategies.
International Village mall, previously known as Tinseltown, sits on 3.38 acres and makes up a whopping 195,000-sq-ft of retail space. Anchored by Cineplex Odeon Movie Theatres, it sits at the crossroads of Vancouver’s Central Business District, Stadium District, and Chinatown.
The mall currently has more than 60 retail shops, including a language school, Japanese discount department store, drug store, wine store, cigar shop, plus furniture and jewelry stores. There’s also a cat cafe, with rescue cats coming from the BC SPCA.
Included in what is sure to be a pricey real estate deal is “Paris Square,” the roundabout property on Keefer Place across from the mall. Currently, it is home to a T&T Asian Supermarket, which is considered the property’s main anchor, and Pizzeria Ludica.
Paris Square makes up just over 80,000-sq-ft of retail space, and is across the street from the Chinatown/Stadium SkyTrain station.
Finally, the deal also comprises the sale of Coquitlam’s Henderson Place Mall — which has a whopping 142,841-sq-ft of retail.
The mall is directly across the street from Lincoln Station on the new Evergreen SkyTrain (LRT) Line, in an area that has experienced 20% population growth in the past five years.