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Marcus and Millichap Enters Vancouver’s Commercial Real Estate Market as Demand for Land, Office and Retail Properties Grows
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(Posted on Mar 11, 2016 at 08:05PM by Michelle Bogle)
2015 was a banner year for the Vancouver commercial real estate industry. In fact, according to the Real Estate Board of Greater Vancouver, commercial sales in the Lower Mainland registered a five-year third-quarter high due to the increased demand for land, office and retail properties.
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As this surge in Vancouver’s commercial marketplace is expected to continue for 2016, Marcus & Millichap is poised to meet this increase in demand with our newest office that recently opened its doors in Vancouver.
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Who is Marcus & Millichap?
Marcus & Millichap is the largest firm specializing in commercial real estate investment sales, financing, research and advisory services. With offices across the United States and Canada, we offer customized services that are tailored to meet the diverse needs of private investors, professionals and institutions.
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Our growing team of sole-asset focused commercial brokers and advisors specialize in a range of investment categories, including multifamily, retail, office, industrial, single-tenant net-lease, self-storage, seniors housing, manufactured homes, hospitality, land and special assets.Â
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Our service offering is unique in that our office solely focuses on Vancouver-centric commercial real estate sales, thus offering our clients superior expertise and proficiency.
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Why Vancouver?
The Vancouver commercial real estate investment market is red hot. Last year saw a huge increase in demand for Vancouver-based commercial real estate as the provincial economy strengthened and outperformed other parts of Canada. Â
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In Q3 of 2015 alone, there were 550 commercial real estate sales in the Lower Mainland – an almost 17% increase compared to Q3 of 2014 – with commercial sales soaring to $1.9 billion, a 34% increase from Q3 2014.Â
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To learn more about the Lower Mainland commercial real estate market and how you can partner with Marcus & Millichap, please contact our Vancouver office for more information.Â
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