Dayhu Group and Colliers worked together to create a unique structure for the lease of a new office and laboratory building in Vancouver's Mount Pleasant neighbourhood, completed in 2020. The project attracted AbCellera as the sole tenant, signing the largest lease deal ever completed in Mount Pleasant and the largest office lease completed in Vancouver in 2020. The successful collaboration and creative solutions employed by Dayhu and Colliers resulted in a historic achievement for the area and the stakeholders involved.
Experts enlisted to position 150 West 4th Avenue as premier office space in Mount Pleasant
Located in the vibrant neighbourhood of Mount Pleasant, 150 West 4th Avenue is a development that will complete in 2023. The project was spearheaded by Dayhu Investments, an established local developer with a reputation for quality projects looking to create a world-class office building in an area where the allowable density was transitioning.
The design for the development at 150 West 4th Avenue was the work of Taylor Kurtz Architecture & Design in Vancouver. The building was designed as a 130,000 SF structure with the flexibility to add additional floors, bringing the total building size to 170,000 SF. This increased came to fruition shortly after construction began, with a successful appeal to the City of Vancouver for more density.
Dayhu retained the expertise Dan Jordan, Senior Vice President, Marco DiPaolo, Executive Vice President and Matt Smith, Senior Vice President. The Colliers team was tasked with developing a marketing program that would attract high-quality tenants and position the building as the premier office space in the surrounding area.
The marketing program was launched in the summer of 2020, during a challenging time for office leasing globally due to the pandemic. However, Colliers and Dayhu strategically focused on the life sciences sector that had the largest growth potential and was in dire need of large leases to react to the health crisis. Colliers’ experts were able to attract AbCellera, a high-growth life sciences company. Their development of a COVID-19 treatment had attracted federal investment dollars and was propelling their expansion, requiring a high-quality space with a much larger footprint than they currently had.
Record-breaking lease deal completed despite global challenges
The lease with AbCellera was completed in Q4 2020 and was the largest lease deal ever completed in Mount Pleasant, as well as being the largest office lease completed in all of Vancouver in 2020. This project represents a significant achievement for Dayhu, Colliers, and all the parties involved, showcasing the benefits of collaboration and expert solutions in the real estate industry.
About Dayhu Group of Companies
With over four million square feet of Industrial, Commercial and Retail properties across Western Canada, Dayhu Group of Companies is a leading real estate investment, development, and property management company. As a 3rd generation privately managed and family-owned business, Dayhu understands and appreciates the importance of multi-generational estate planning. Founded by Ben Dayson in 1956, the company has developed some of British Columbia’s first high rises including building the very first high-rise residential towers in the city of Richmond.
AbCellera is a technology company that searches, decodes, and analyzes natural immune systems to find antibodies that its partners can develop into drugs to prevent and treat disease.
AbCellera grew out of the idea that single-cell microfluidics and next-generation technologies can radically change how we discover drugs. But this isn’t just about having advanced technology. It comes from building a world-class group of innovators. Their multidisciplinary team of cell biologists, biochemists, engineers, data scientists, machine learning experts, and business professionals is working on some of the toughest areas of disease. They push the limits of antibody discovery to help partners tackle the world’s most urgent medical challenges.