(Posted on Nov 21, 2016 at 08:43PM by Michelle Bogle)
Earlier this month, Western Investor published a list of the top five centres in Western Canada for property investments. Of those five cities, four of them were located in British Columbia, including Kamloops, Coquitlam, Terrace and Nanaimo.Â
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In today’s post, we take a look into Coquitlam’s commercial real estate market and why you should consider investing in this city.
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About Coquitlam
•Coquitlam is a suburban city located in the Lower Mainland of B.C. – the sixth-largest city in the province.Â
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•It’s also one of the fastest growing communities located in the heart of Metro Vancouver with population estimates predicting 176,000 residents by 2021 and 224,000 by 2041.Â
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Investment Highlights
•Coquitlam is ideally located just 30 minutes from downtown Vancouver and 40 minutes from the US border and acts as the regional service centre for Northeast Metro Vancouver.Â
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•Its proximity to the Vancouver and Abbotsford International Airports and Port of Metro Vancouver provides businesses with convenient access to the Pacific Rim, while its transportation systems are robust with access to major highways, rail arterials, rapid transit and river ports.Â
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•Transportation infrastructure improvements, like the Port Mann, Golden Ears and Pitt River Bridges, King Edward Overpass and the Trans Canada Highway 1 upgrade, improve the flow of goods and services for business owners.Â
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•The arrival of the SkyTrain Evergreen extension is also of key importance because it is presenting itself as a great opportunity for commercial real estate investment near SkyTrain hubs, such as Lougheed and Burquitlam.Â
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•In terms of development, building permits have also been on the rise in Coquitlam, averaging $20 million a month for a year.
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•Coquitlam is also a white-hot industrial market, with a 1.5% vacancy rate, which makes it the lowest in Canada. As a result, demand for light industrial and office space is on the rise, but new developments, such as the Village at Fraser Mills, should help address this need.
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Want to learn more?
If you are interested in exploring the investment potential for office, land, industrial, hospitality, retail or multi-family assets within Coquitlam, B.C., be sure to contact our Vancouver office to speak with a commercial real estate advisor.
You can also visit our Property Search Portal to view active listings across the Lower Mainland and beyond.
