2010 Metro Vancouver Retail Sales Report Q2

Dollar volume from retail sales in Greater Vancouver escalated in Quarter 2 to the tune of $409,805,974 changing hands last spring - approximately 44% of total retail sales in the region for the 12 month period ending last June. Retail real estate activity was bolstered bya bounce in consumer spending, along with a hot housing market that did not level off until May.

Read the full article

2010 Metro Vancouver Office Sales Report Q2

Metro Vancouver office sales surpassed $258 million in Q2. Sales volume decreased $293,307,399 from Q1's high figure of $551,504,768. However, sales increased $140,673,369 from 2009 Q1, when markets were beginning to recover. Q2 sales were just over a mere $2.6 million above the 12-month mean.

Read the full article

Vancouver to Create More Office Density in Broadway Corridor

The City of Vancouver is determining how to effectively densify office space in Central Broadway, the located between Main an Arbutus. The City has begun reviewing an number of policies and guideline as part of the public consultation process. The Broadway Corridor plan was last updated in 1976.

Read the full article

Metro Vancouver ICI Land 2010-Q1

ICI sales volume in Metro Vancouver came to $242M in Q1 201, showing a relatively steady trend that is in line with 2009 Q4's total of $249M. This relative stability shows a market seeking correction as the trend seeks the stable center. The stabilizing movement over these last 2 quarters follows a slight decline from Q3. 2009 dipped from $165.9M in Q1 to a low of $100M by the beginning of summer. Over the summer months, the sales price volume took a dramatic leap, despite showing approximately the same number of transactions (around 170).

Read the full article

Metro Vancouver Multi-family 2010-Q1

Sales volume for multifamily residential buildings in 2010-Q1 was a modest $69,238,335, showing a return to levels similar to the first three quarters of 2009, and dipping just under the $78 million figure from one year earlier. Seeing the relatively gentle curve of most of 2009 put the last Quarter's decline into perspective. Quarter 4 '09 apartment sales volume was punctuated by the two massive transactions of Langara Gardens and Beach Towers for $157 million and $117 million respectively. The next largest sale in all of 2009 was The New Marquis Apartments at $19,057,480 in November.

Read the full article

Vancouver Real Estate Conference at Convention Centre West May 13th

The Real Estate Forum returns to Vancouver for its 16th annual conference on Thursday, May 13th. The Forum is Vancouver's largest conference on RE investment and property management matters, and is being held in the illustrious new Vancouver Convention Centre West, which enjoyed great success hosting this year's Buildex show in April.

Read the entire article

Metro Vancouver Industrial 2010-Q1

Industrial sales volume in 2010's first quarter continues to express the positive trend that appeared after mid-point 2009. Sales volume reached $177,339,708 between January and March 2010. This is a marked increase from the same period last year, which recorded $121,083,345 in sales. The current figure is up by $17,864,650 from year end 2009. Quarter 4 had declined slightly by $11,164,529 from its mid-year volume of $170,639,587, creating a shallow "U" shaped growth curve that mimics the retail trend over the same period.

Read the full article

Metro Vancouver Retail 2010-Q1

2010 is shaping up to be a stronger year than 2009 with several major sales already behind us. In addition to the pending sales in excess of $100 million, there has also been a healthy amount of activity with smaller and intermediate sales. Abbotsford's Clearbrook Plaza was purchased by CR&SFW Property Ltd. from Braun Investment Group Inc. in $21,725,000. There was the Staples sale which Vancouver's Dayhu Investments Ltd bought for $21,000,000 from Winnipeg's The Great West Life Assurance Company. Boundary Park Plaza in Surrey sold for $13,700,000 & 20961 & 21015 96th Avenue in Langley sold for $11,700,000.

Read the entire article

Buildex Draws Thousands of Delegates

This year's Buildex Vancouver was attended by thousands of delegates representing a number of industries that included interior design, property management, real estate, construction architecture and many more. It was an opportunity for professionals around the building industry to meets under one tent and exchange ideas and contacts.

Read the entire article

Buildex Brings the State of the Industry to Vancouver

On April 21 & 22, Buildex Vancouver will be held for the first time in the new Vancouver Convention Centre West at 1055 Canada Place. The newest products, trends and technologies for the real estate industry will be on display throughout approximately 600 exhibits. Over 12,000 attendees from a range of occupations that include architects, designers, contractors, property managers, corporate planners and government officials are expected to turn out.

Photo by Chris Collacott - Northern Exposure Photo Contest
first place prize winner at BUILDEX Vancouver www.buildexvancouver.com

Read the entire article

New Westminster Considers Contractors for Civic Facility

New Westminster is jumping into the game to attract investors by adding density to the downtown core. The city is shopping for developers to build a high-density residential tower to pair with its planned civic centre. The project is part of New West's downtown revitalization plan. In terms of its economic goals, the city hopes to draw visitors, create opportunities for commercial activity, and generate demand for local businesses. The site will likely be on Columbia Street near Begbie Street, for its proximity to the SkyTrain station, and will make it a well-connected hub adjacent to Burnaby and Surrey.

Read the entire article

Surrey Invites Development with Clean Energy Initiative

Surrey continues to compete with Vancouver in its ambition to be the go-to city to do business with its "clean energy hub" initiative. Mayor Dianne Watts announced that clean-energy companies would be eligible for a sweetheart package that comprises a three-year tax break, a 50-per cent reduction in fees and free city land for demonstration projects.This announcement is a continuation of 2009's development initiative, which saw Surrey open two large economic zones and offer tax breaks fee reduction to large-scale industrial developers.

Read the entire article

2010 Metro Vancouver Office Vacancy Trends

The Western Investor and the Daily Commercial News both report that the office vacancy rate has climbed to nearly 8 per cent by 2009's end, a condition that had kept rental rates down in Metro Vancouver. However, prime A-class real estate downtown and in the Broadway corridor remains scarce, and lease rates are set to rise.

Read the entire article

2010 Economic Outlook - Vancouver Best Off in Canada

Vancouver is expected to see economic growth to increase the GDP by 4.5 per cent in 2010, according to a report from the Conference Board of Canada. The report attributed its optimistic forecast to the boost from the Olympic Games combined with new construction starts and higher domestic spending.

Read the entire article

Residential Towers Rejected in Vancouver

Vancouver City Council voted on two proposals that would affect development and multi-family space in the city. Council rejected proposals for three of four extra-tall condo high-rise sites in the downtown core. The three towers would have all been located on West Georgia Street

Read the entire article.

Vancouver Commercial Transactions in 2009

Apartment properties led the Vancouver commercial real estate market with over $904 million in sales volume. ICI land and residential land followed with more than $478 million and 405 respectively. All other sectors were in the $225 to $325 million range, except hotels, at $7.8 million.

Read the entire article

Surrey is Investment Central

Surrey's Mayor Dianne Watts hopes that the city's bold plans to move city hall will signal confidence to developers and investors, and it looks like it is working. As low inventory and cap rates continue to characterize Vancouver's commercial market, Surrey is stepping up to take its place as a major Lower Mainland centre of business and commerce. With a population that has grown almost 18 per cent in the last two years, the city has a population of nearly a half million and hosts a busy border crossing with the US.

Read the entire article

Developers Big on Building Small

Peter Mitham of Business in Vancouver reports that there will be recovery in the construction industry in Vancouver, driven by the City's comparatively low inventories.

Read the entire article

Surrey City's Bold Moves

Surrey continues its aggressive campaign to become a strong business commerce centre in Metro Vancouver. The South Westminster & Bridgeview neighbourhoods have been selected as Surrey's new industrial area, taking advantage of the area's proximity to City Centre and the Scott Road SkyTrain station. The site has a deep sea port with access to the Fraser River, CN rail lines and the King George Highway.

Read the entire article

Industrial Market Stabilized Over 2009

The leasing market is remaining stable in 2008-09, and has seen improvements as the demand for quality investment product returns. While caution trumped demand over most of 2008, the economic recovery and relative stability of Canadian lending institutions has helped bring a return to buyer confidence. Buyer confidence is gradually returning with signs of market improvement, but the commercial real estate market has less dramatic peaks and valleys than the residential industry.

Read the entire article