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MLS# V4023366

23359 Fisherman Road, Maple Ridge

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Opportunity to own industrial lot near major routes. Property would suit multiple types of businesses. The lot is comprised of 2 adjacent fully serviced parcels. The property is ...
Zoning Type: M-2
Price: $1,695,000
Property Type: Industrial

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Vancouver's Commercial Real Estate Market Buoyed by Activity in Office Sales

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November 2009

Sales of commercial office real estate in Vancouver represented the largest share of national sales by 2009 mid-year.

Sales of Vancouver office space came to over $500 million, nearly 39 per cent of $1.3 B national sales. Though this sum was distorted by the $297 million sale of Bentall V to Deka Immobilien Investment GmbH, it has been a shot in the arm for the Vancouver market, keeping it viable while activity in other Canadian cities have declined.

A shortage of prize office properties may be keeping other international investors from participating in Vancouver's economy. Relatively low capitalization rates could drive up investment in other cities. This is mitigated however, by Vancouver's status as a West Coast market. Though local cap rates are not the highest in Canada, many investors retire here and they invest locally so that they can watch their investments more closely.


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