If you have been reading our previous blogs you know that we feel very strongly about Victoria Real Estate and that we continue to invest in Victoria Real Estate. Well, it looks like we are not the only ones. An article in the Times Colonist reads:
Heritage building at Bastion Square sold to TransGlobe
TransGlobe Property Management has added the Board of Trade building at 31 Bastion Square to its stable of Victoria properties. The Mississauga, Ont.-based company has been buying buildings in Greater Victoria over the last year and is one of the city’s biggest landlords with more than 1,000 rental units. It has said it intends to double that number by 2010.The latest acquisition, designated a heritage building, was built in 1892 and is home to 11 companies including Tourism Victoria, IBM Canada, Bayview Properties and Pace Group Communications.
The building has been managed by Midwest Property Management, though it’s not clear if TransGlobe will take over the job.
The Board of Trade building is a four-storey property with more than 34,000 square feet of rentable space.
“We are thrilled to acquire such a historic and beautiful building in Victoria in such a prestigious location. It is definitely a new gem in our portfolio of properties and we intend to maintain it with the attention and care that it deserves,” said Daniel Drimmer, president of TransGlobe in a release.
“This acquisition further advances our growth strategy for the B.C. region where we are continually looking to grow.”
TransGlobe has commercial and residential properties in Victoria, Vancouver, Abbotsford, Burnaby, Coquitlam, Nanaimo, New Westminster, Surrey and Port Moody End of Article.
It is interesting to see companies like this buying up Victoria Real Estate. I think the reason is that Victoria is a world class city, and if you compare Victoria with other world class cities, we are very affordable. Why do you think they are doing so?
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Anders Treiberg, Associate Broker, REALTOR®
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