As we compile our second-quarter statistics for the Metro Vancouver Office Market, we note a continuing trend of growing vacancies. Since our last report, we have seen some new spaces come available, and new inventory come online – leading to a total current inventory for Metro Vancouver of 52,905,635 square feet. View Details
We are pleased to share the latest statistics – and our insights into – the 2014 second-quarter Metro Vancouver Office Market. As noted in our sneak-peek letter, vacancy rates are up, having pushed through the 12-percent mark during Q2. For most office tenants, this is positive news! View Details
Sep 16th, 2014
12:00 PM – 1:00 PM Eastern
Where are the opportunities for growth? Which markets are hot, solid, and weak? 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 will MSA population grow most and least by 2020 and 2030?
• Where are real values, rents, and construction levels compared to historical averages?
• Where will cap rates go for each sector?
• What happens when rates rise?
• When will vacancy rates really decline?
• Housing market update.
• Real estate Capital market update.
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.