http://renx.ca/triple-a-headache-remedies-for-b-buildings-are-available-says-colliers/
Triple-A headache remedies for B buildings: Colliers
Colliers points to the revamp of Vancouver’s 411 Dunsmuir St. building by owners Omnicron and CRS Group of Cos. as an example of capital injection done right. That property, a former seniors centre that housed offices various non-profit medical groups, was plagued by high turnover. The new owners decided to strip the building back to its original shell and completely renovate it. It included a seismic upgrade to the building, a new HVAC system, new windows and asbestos removal. Also, the
landlords built an addition to the building, which will increase the size of the floor plates.
Colliers noted that while undergoing the renovations, big office tenant, Morneau Shepell, expressed interest in occupying the building. That has led Omicron to junk its plans to occupy the building, instead making way for Morneau Shepell. The improvements also raised the classification from Class C to B.
“This is still in a great area, it is still close to a lot of amenities and transit,” said Scott. He noted that the owners have decided to hold onto the building longer than they initially thought that they would.