Construction is well under way for 3 high-profile office building developments surrounding our Lee & Associates office in downtown Vancouver and we've taken some photos of the current progress. We plan on providing updates of the buildings as construction progresses monthly, so expect updated photos in late-June. 402 DUNSMUIR BUILDING BY OXFORD PROPERTIES Expected completion is [...]
Office sales took center stage over office leasing in the first quarter of 2019 with a handful of >250,000 square feet office buildings valued at in excess of $1.5 billion changing hands. Strong continued growth and sustainability of Vancouver’s innovative sectors has attracted North American real estate investors to make their first purchases in Vancouver. [...]
Key takeaways for 2019: Substantial increase in property taxes suppresses potential rental growth for underbuilt properties across all assets classes. Residential land market softens across Metro Vancouver as the housing market struggles to find a balanced market. The City of Vancouver’s land speculation levy by way of implementing Development Contribution Expectations (DCE’s) has had a [...]
Close to 1 million square feet of office leasing absorption was achieved in Q4 as a handful of new periphery office buildings were occupied and equally strong take-up in the downtown and suburban markets was recorded. Investment activity was subdued in Q4 edging up office cap rates to 4.1% as municipal elections resulted in some [...]
The results are in and we are proud to announce Lee & Associates Vancouver's Top Deals for 2018. Congratulations to all our brokers! 415-485 Marie Place North Vancouver Sold for $20,410,000 Purchased by Fairborne Properties Ltd. Brokered by Martin Delafontaine and Arash Rezai 1906 Haro Street Vancouver Sold for $13,200,000 Purchased by 1166238 BC Ltd. [...]
Metro Vancouver's office market witnessed less positive absorption this past quarter, however three (3) >100,000 SF pre-lease deals Downtown by the co-working, financial, & technology sectors showcases the region’s sustained diverse economy. Overall vacancy rates dropped a full percentage point to 6.2% and despite the large deals recorded Downtown, leasing activity in the Suburbs of [...]
Vancouver's metro office market continues its torrid pace of increased absorption, lower vacancy rates and higher rental rates. Rapid expansion in Vancouver by the tech sector led by Amazon & the co-working dynamic led by WeWork together with a lack of new supply has made Western Canada's largest city record the lowest vacancy rate and [...]
Lee & Associates releases its national Q2 2018 market reports in a new on-line interactive format. Click on the report cover to read the publication which includes a snapshot of Metro Vancouver's industrial and office markets.