Potential Building SaleMy apology for the delay in this promised post. I got locked out of Stockhouse and I could not retrieve my temporary password. Fortunately I am now able to access this forum using an old laptop which froze as I was completing my first update. Here goes again.
I have a brief update on Vancouver commercial real estate as well the progress on the sale of the building.
From a Vancouver radio commentary: Vancouver’s real estate sales have decline slightly since Q2 but the price per square foot continues to rise. Perhaps AVO sold the building too soon.
The renovations continue on schedule. The third elevator shaft has yet to be upgraded and the atrium/cafeteria between the two buildings has to be completed. Also, some of the interior offices require some upgrading.
The renovations and the sale of the building are proceeding as planned and on schedule. The closing of the sale is expected during 2017. In response to my question, IR stated that there were multiple potential purchasers interested in the building.
I certainly am pleased with our overweight positions in AVO
For investors interested in more information, please contact IR at:
Investors@avigilon.com or 604-629-5182
Ed, the old guy