Terry Harding, Jackson Tang and Brandan Harding of NAI Commercial – Vancouver has recently sold 2 multi-family buildings on Cornwall Ave, Vancouver West, BC. Highly sought-after location in the heart of Kitsilano on Cornwall Avenue across from Kitsilano Beach.
8 unit building on 2358 Cornwall Ave was sold for $5,025,000
The total Yaletown market inventory consists of 2,058,419 square feet of office space in 38 buildings. There are currently 38 vacancies ranging in size between 200 square feet to 28,000 square feet with a vacancy rate sitting at 5.1%.We have seen 2% absorption since last year.
Gary Haukdland and J.D. Murray of NAI Commercial – Vancouver have successfully completed a Court Ordered Sale of a 396 Acre Development Site on Sechelt Inlet Road, Sechelt BC for $11,750,000. The subject property consists of 10 legal parcels –including approximately 1,500 feet of waterfront land.
The properties are located in the District of Sechelt’s East Porpoise Bay community, north east of downtown Sechelt along Sechelt Inlet Road between the very popular Porpoise Bay Provincial Park and Sechelt Heritage Forest & Hidden Grove Recreational Area. The sites are only 4.5 kilometers to all amenities in central Sechelt, with easy highway access to the rest of the Sunshine Coast. Close proximity to Vancouver including 40 minute scenic ferry ride.
This year, ICSC expects to break another attendance record with over 1100 attendees, including over 500 retailers!
At NAI, we believe that global leadership in commercial real estate begins at home. Whether you are an owner, tenant, developer or investor you will receive custom solutions from a local market leader with deep experience and relationships. All with a single focus: YOU.
June 11th, 2014
12:00 PM – 1:00 PM Eastern
Where are we in the recovery? How far is the economy from historical trend? 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:
• Where are the opportunities for growth?
• Which markets are hot, solid, and weak?
• Six major uncertainties affecting the recovery
• What happens when rates rise?
• When will vacancy rates really decline?
High exposure retail plaza at the north east corner of East Broadway & Carolina Street Mount Pleasant area. Well-known tenants include Subway and Mac’s. Building contains a total gross leasable area of approximately 10,622 square feet on 18,117 square feet lot.
As we start the second quarter of 2014, the statistics are revealing – and may be troubling for a landlord.
Currently, Greater Vancouver has 52,333,837 square feet of office space, with vacant space at 11.4 percent of that total. There are 28 new office buildings under construction – which will add another 4,645,529 square feet of space. How do these numbers stack up against the recent past? Take a look at the following figures from the first quarter of each of the past five years. VIEW Details
In the 90 days prior to this writing, 325 new spaces – 1,181,966 square feet – have been added to the market. During the same period, 275 units were removed from inventory, totalling 797,375 square feet, for a negative absorption of 384,591 square feet. Or, to look at it another way, 128,000 square feet were added to the market monthly. VIEW Details