Richmond industrial property sold for $750,000 above assessment

An industrial site on Voyageur Way has sold for $750,000 more than its assessed value.

The site — located at 11751 Voyageur Way near Bridgeport and No. 5 roads — sold in Aug. 30 for $4,375,000, according to Western Investor. The property was assessed at $3,623,000 in May, an increase from the 2018 assessed value of $3,267,000.

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The total land size of the property is 18,296 square feet, with an 11,500 square foot building currently occupied by Tri-Star Seafood Group. According to a listing on SpaceList.ca, Tri-Star was the owner of the property and plans to lease back the building on a five-year lease with a five-year renewal option.

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