National Retail Group
With a local database of 2,500 investors, an inter-office network reaching thousands more, and instant reach via MNet to Marcus & Millichap’s largest pre-qualified buyer pool of thousands of global investors, we will expose your property to a wider audience and market your property stronger than anyone else to ensure you net more dollars than you would by using any other broker.
The retail industry forms one of the major foundations of the economy, and retail properties come in many forms, from neighborhood strip shopping centers to larger big-box destination-based formats.
Marcus & Millichap’s National Retail Group (NRG) is comprised of more than 430 retail investment specialists located within the firm’s offices across Canada and U.S. The NRG provides investment, advisory and transaction services for all types of retail real estate, including single-tenant net leased properties, ground-leased properties, sale-leaseback structured finance and open air shopping centers of all sizes.
Vancouver Retail Thrives on Luxury Demand, Limited Land Availability
Vancouver grows its prominence as a global gateway, attracting new retailers. Stable population growth and booming tourism amid a stagnant labour force are driving retail demand in the Greater Vancouver Area and spurring new development. International retailers continue to flock to Vancouver, making their Canadian debut in a city that saw more than 10.3 million visitors last year, a record high. Luxury brands such as Tiffany & Co., Prada, Hublot and Van Cleef & Arpels are solidifying Vancouver as a major hub for high-end shopping, setting the stage for exceptional property metrics. The GVA will stay on the radar for growing retailers, particularly as e-commerce remains a small portion of overall retail spending, keeping vacancy low and lifting rents at a strong clip.
Land constraints encourage more mixed-use development. More than 2 million square feet of retail space remains underway, dominated by supply growth in Burnaby and Surrey. A large portion of new retail is being integrated into big mixed-use projects or as smaller ground-floor space in the numerous condominium and rental buildings rising across the GVA. One of the largest projects under construction is Gilmore place in Burnaby, which will total more than 500,000 square feet of retail in a transit-oriented mixed-use development.