COVID-19 exodus from Metro Vancouver offices didn’t make any less work for property managers

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COVID-19 exodus that emptied many offices created new and varied demands for property managers related to the pandemic that kept them hopping.

Adam Spear inside Warrington PCI Management in Vancouver on March 1. PHOTO BY ARLEN REDEKOP /PNG

Many offices around Metro Vancouver remain mostly vacant as the COVID-19 pandemic stretches into its second year, but it hasn’t made less work for their property managers, according to Adam Spear, head of Warrington PCI Management.

“That first initial response in sort of late February, March (of 2020) was all about safety protocols and ensuring they were doing all the right things that could be done,” said Spear, president at the Vancouver management company.

At first, much of the additional work involved extra COVID-friendly cleaning for the few employees left behind in offices or in establishing protocols for clients who had workers show up after contracting the virus, Spear said.

“Buildings were low-occupancy, but for those who were working, they needed to feel safe,” Spear said.

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Warrington, SDM merge into B.C.’s largest property manager

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The merger of Warrington and SDM in Metro Vancouver creates B.C.’s largest property management company. (Handout via Renu Bakshi Communications)

RENX Staff

 

Two private Metro Vancouver-based property managers, Warrington PCI Management (WPM) and SDM Realty Advisors, have merged to become B.C.’s largest commercial property manager.

In an announcement Tuesday, the firms say their combined portfolio comprises over 15 million square feet of space. Prior to the merger, which closed this week, both firms were already among B.C.’s top 10 property managers by floor space.

“We are thrilled that SDM Realty Advisors will be joining Warrington PCI Management,” said Adam Spear, president of WPM, in the announcement. “This is a merger of highly complementary cultures dedicated to a people-based approach to property management. Together, we will enhance our already market-leading services for all of our current and future clients.”

SDM will continue to operate independently over the short term, then transition into a combined company under the WPM brand with more than 180 B.C.-based employees.

Its owners listed SDM in the fall of 2020, fielding multiple offers from international real estate brokerages and property managers to private equity firms to independent regional property managers.

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Chilliwack’s Cottonwood Mall has new owners, big changes in the works

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It was announced on Feb. 7, 2019 that Chilliwack’s Cottonwood Mall was sold by Ontario-based Morguard to B.C.-based PCI Developments. (Submitted)

The Chilliwack Press | Paul Henderson February 7, 2019 3:43 pm

Save-On-Foods officially announced as anchor tenants with $30 million in other investments

More changes are coming to the retail landscape in Chilliwack as the Cottonwood Mall has changed hands purchased by B.C.-based PCI Developments from Ontario-based Morguard.

“PCI Developments is excited about the opportunity to invest in Chilliwack, one of B.C.’s fastest growing cities and economies,” said Jarvis Rouillard, PCI’s Vice President Acquisitions and Leasing in a press release issued Feb. 7. “We are a Vancouver-based company with strong roots in retail, and with our purchase, we look forward to offering Cottonwood Mall local ownership and management, as well as building relationships with current tenants, attracting new tenants, and enriching the retail experience for the community. Read more

UDI Awards recognize top B.C. developments

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The Remi Network | The Remi Network November 26, 2018

The winners of the 2018 Urban Development Institute (UDI) Awards for Excellence were recognized during an awards gala held in downtown Vancouver.

The bi-annual awards celebrate the outstanding contributions made by leaders in the urban development industry to the built environment in British Columbia.

The 21 winners were recognized in diverse categories such as design, sustainability, heritage and social housing as well as community amenities built or funded by UDI members, including seawalls, libraries, daycares, parks and community centres. Read more

WiredScore marks one year in Canada with KingSett

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Real Estate News EXchange | WiredScore Commercial October 26, 2018

SPONSORED CONTENT: WiredScore, the company behind the international standard for rating Internet connectivity in commercial buildings, has made major strides since it launched with Toronto as its first Canadian flagship market in October 2017.

WiredScore announced an $11.6-million Series A capital raise from leading commercial real estate investors — including KingSett Capital, Legal & General, U+I, Town Centre Securities, MOMENI Digital Ventures and Savitt Partners — last week. The investment group has been supported by a recommitment from WiredScore’s existing investors: Bessemer Venture Partners, Fifth Wall and Sterling.VC.

“We are pleased to further support WiredScore as a customer and an investor, as we are committed to delivering top of the line experiences for our tenant customers,” said KingSett chief executive officer Jon Love. Read more

Phase three of King George Hub in Surrey on the way

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Urban YVR | Peter Meiszner September 16, 2018

PCI Developments has filed a development permit with the City of Surrey for phase three of its King George Hub development, designed by Musson Cattell Mackey Partnership.

Phase three will consist of a 34-storey residential tower with a single-storey retail podium. There will be 371 residential units in the tower and 9,322 sq ft. of retail space on the ground floor.

Phase one of King George Hub is made up of the 10-storey Coast Capital Savings headquarters building, completed in 2015. Phase two consists of a stand-alone two-storey restaurant, single-storey retail podium, two residential towers (40-storey and 29-storey) and a 15-storey office building. Construction is now underway on this phase and condos in towers sold out quickly. Read more

New-look expansion coming to downtown Vancouver office tower

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Daily Hive | Kenneth Chan September 10, 2018 4:22 pm

The Grant Thornton Place office tower immediately across from the old CP Station building in downtown Vancouver is getting a makeover.

A rezoning application has been submitted by PCI Developments to the City of Vancouver to fill in much of the void space within the overhang of the base of the 1985-built tower at 333 Seymour Street. Read more

Construction begins on new 25-storey office tower near Waterfront Station

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Daily Hive | Kenneth Chan May 22, 2018 2:55 pm

A new 25-storey office tower is set to rise at a small corner site at the northwest corner of the intersection of West Hastings Street and Seymour Street – just south of the Waterfront Station transit hub and across the street from Harbour Centre.

Demolition work on the glass-domed plaza, a part of the adjacent Princess Building, at 601 West Hastings Street is quickly progressing. Read more