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Case Study: Main Alley Campus, Westbank

Passion for community building and real estate innovation allows CBRE to facilitate Westbank’s vision for a dynamic technology focused campus in Vancouver’s evolving Mount Pleasant neighbourhood.

Key Information

Client

Westbank

Location

Mount Pleasant Neighbourhood, Vancouver, BC

Topline

Activate a developer's vision for a technology focused hub in a dynamic community.

Opportunity


The eastern edge of the Mount Pleasant Area is a dynamic market contributing to the growing innovation economy and light industrial sector in Vancouver. Westbank, a leading city builder and culture company founded by Ian Gillespie, envisions a five-building 560,000 sq. ft. campus that will be a catalyst for new industry and the answer to growing demand in one of the most vibrant communities in Greater Vancouver.

The campus will include office, industrial and retail space combined with incubator pods, expansive sky gardens, public art and sustainability-focused infrastructure. Westbank required a broker that understood the vision and was both strategic and passionate about activating the neighbourhood with a development of this scale.

Solution & Outcome


Westbank partnered with CBRE’s Blair Quinn and Tara Finnegan to launch Main Alley in 2018. The scope and significance of the development required the skill of multidimensional brokers who have development knowledge, investment sales expertise and personal experience with the transformative shift of the neighborhood. The brokerage team encouraged an expedited development schedule with more speculative exposure and suggested office features to the architect to capture tenants in the market and help bring Westbank’s bold vision to life.

CBRE’s initial focus was to set the tone for the multiphase project by fully leasing an existing building and identifying a key tenant for a retrofitted structure that would create workspace for the future. WeWork, a leader in coworking space, was identified as the strategic anchor in the 43,000 sq. ft. M1 building - the gateway to the project. The company will serve as an incubator for future tenants and provide scalability and accessibility for emerging technology businesses in this dynamic community. This selective and strategic approach to neighbourhood activation will define the leasing strategy for the rest of the development.

With key tenants in place and strategic development underway on public amenities, including community gardens, food service providers, fitness and childcare facilities, Main Alley is supporting and elevating the Mount Pleasant neighbourhood. With a third of the next phase of the project preleased (M2) and construction slated for completion in 2021, Westbank’s Main Alley project showcases the potential of bold city building projects when combined with real estate services that embrace the developer’s vision and advance client and community objectives.

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