Foreclosed West Field Business Centre In Surrey Listed For Sale Over $50M Debt

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Howard is based in Burnaby and covers real estate, housing policy, and the development industry. Signal: HowardChai.24

​The infamous commercial building at 14178 104 Avenue is suspected to have been vacant ever since it was constructed in 1998.The large campus-like building at the intersection of 104 Avenue and 142 Street in Surrey has been listed for sale as a result of ongoing foreclosure proceedings, according to court filings in the Supreme Court of British Columbia and a listing.

Also listed as respondents in the case are four individual mortgagors and several other entities — including Kuldeep Bansal — that acted as guarantors, with six other properties in Surrey — 1063466 BC Ltd. initiated separate foreclosure proceedings against the property in December, while 0938080 BC Ltd. was eventually added to the proceedings initiated by GC Capital and Kismet.

In its listing, Colliers notes that a building permit allowing for "base building upgrades" has already been approved. The building consists of 271,000 sq. ft of space over four levels and underground parkade with 675 parking spaces. The lot spans nearly 3.66 acres.Real Estate NewsCMHC Names Coleen Volk President And CEO, Don Iveson Board Of Directors Chair

 

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