The big questions on everyone’s mind are, “What do low oil prices mean?” and “Will they remain low?” The volatility of crude prices has increased since 1994. From 1964-1993, the standard deviation of real crude prices was $24 per barrel. In contrast, the standard deviation of prices for the most recent 20 years was $31 per barrel. In the
first quarter of 2008, immediately before the Great Recession, real oil prices increased 41%, from $104 per barrel to $146 per barrel, a 50-year high. Since 2008, real oil prices have been volatile, with crude plummeting to $43 per barrel in the first quarter of 2009 before rising to $116 by the second quarter of 2011, and subsequently declining to current pricing.
The first quarter of 2015 closed with little change over the last quarter of 2014. Crude oil is still hovering around $50 a barrel. Since oil has such a strong influence on Canada’s economy, the Canadian dollar seems to have stabilized around $0.80. US.
The Canadian unemployment rate fell through 2014. That trend continued into 2015 with the unemployment rate falling to around 5.5 percent. Locally, we are happy to report that the Vancouver Office Space market is continuing on a steady, level path. Last quarter we reported a vacancy rate Downtown of 10.2 percent; that has increased slightly to 10.5 percent. The Suburban market shows a decrease of just 0.3 percent in vacancies. The Vancouver periphery market has decreased 0.4 percent.
This investment property with high potential and outstanding visibility has an occupancy rate of 100% with tenants such as Tim Hortons, Ultramar, Couche-Tard, Videotron, Valentine, Subway.
The asking price is $7,950,000. Please contact Team Sauvé at tel 514 866 3333 for further details. More >
NAI Commercial is pleased to announce the sale of the Surrey Golf Club at 7700 168th Street, Surrey B.C.. Business in Vancouver rated Surrey Golf Club as the busiest public golf course in Metro Vancouver for 2007-2013, with the most rounds played. Surrey Golf Club has been in operation since 1971 and is highly regarded in the golfing community with industry leading rounds, driven by outstanding value.
The 27 hole course totals 163 acres is ideally located on major roadways in the heart of the City of Surrey. The properties are zoned for golf course and other various ancillary uses. The sale included the clubhouse of approximately 10,000 sq.ft. complete with an 80 seat lounge, 150 seat banquet room, pro shop, and administration offices as well as an 11,000 sq.ft. maintenance building. In addition, all equipment and inventory for golf operations, restaurant, and pro shop were included.
For more information, please contact Senior Vice President Gary Haukeland and Senior Associate J-D Murray of our Vancouver Office at (604) 683-7535.
NAI Commercial, represented by Team Poitras, is proud to announce the sale of an industrial facility located at 5400 Armand-Frappier in Saint-Hubert, Québec to Groupe immobilier Foodarom inc.
The property of an area of 60,027 sf, sitting on 187,054 sf of land, is located in the Saint-Hubert Industrial Park at the Grande-Allée exit along Highway 30. The new owner will occupy half the facility and will offer from 24,000 to 53,000 sf of warehouse space for lease. More >
Terry Harding, Jackson Tang and Brandon Harding of NAI Commercial – Vancouver has recently sold a 23 suite apartment building on 3002 Henry Street, Port Moody, British Columbia for $3,365,000. Water view apartment building is situated in quiet neighbourhood. Short distance from St. John St with easy access to public transportation and shopping.
Join Jay Olshonsky, NAI Global President and Dr. Peter Linneman, NAI’s Chief Economist, for an economic briefing. Dr. Linneman will address several topics during this Web conference including:
What can we expect with oil prices?
Is there finally light at the end of the economic tunnel?
As tapering ends, will rates finally rise?
What are banks doing with all their money?
How vulnerable are cap rates?
Title: Date: Thursday, March 19, 2015
Time: 12:00 PM Eastern Daylight Time
NAI Commercial through its real estate broker, Alhassane Bah, has been mandated in exclusivity by a real estate developer for the sale of office condos and the lease of a commercial space located on the main floor of a prestigious building in the trendy Griffintown area. This future property will combine to perfection an urban design to its heritage architecture.
This new project will include 5 floors of office condos of 5,300 sq ft each and the lease of a commercial space of about 8,000 sq ft, located at 161-175, de la Montagne, Montreal.
For further information, please contact:
Real Estate Broker – Commercial
(514) 293 9752 More >
Each year the trend has been upward with more sales occurring year after year since 2012. This trend has made a dramatic jump in 2014 with 101 sales occurring in the Lower Mainland. We are seeing sales activity remaining very strong with few buildings staying on the market for more than three months. Even the overpriced listings are getting offers, which for whatever reasons are not being accepted by the owners. This 8.8% jump in 2014 in overall sales is not likely to increase for 2015.