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commercial real estate statistics vancouver bcIn Vancouver, low vacancies are leading to great opportunities for commercial real estate investors. In fact, if you choose to invest now, you might find that there is a potential for strong pre-leasing from companies who are hoping to secure space early. Since available space is in such a short supply, vacancies are now 30.5 percent pre-leased. An additional 14.6 percent is under option.

According to recent reports, absorption was positive for the sixth straight quarter, and vacancy rates dropped from 5.4 percent in quarter two of this year to 5.0 percent in quarter three. In addition, it’s been asserted that technology demand dropped from in 33.5 percent earlier in the year to just 22.4 percent by the end of the third quarter, thanks in part to pre-leasing deals.

Investments have been strong this year, and some major assets have been sold throughout the area this past quarter. These include the Telus Garden property for an undisclosed sum, the 800 Burrard property, which sold for $225 million, and the 1155 West Pender property, which sold for $80 million.

If you’re interested in learning more about opportunities for investment throughout Canada, get in touch with Marcus & Millichap's Vancouver office. One of our experienced commercial real estate advisors will be happy to provide additional information.

 
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