NIT-Vancouver in the News: Major Deals in Vancouver’s Suburban Office Market

May 24, 2018 / by Min Kang

Falling suburban office vacancy expected to drive investment throughout 2018

In Vancouver’s increasingly hot office market, CBRE’s Canada Q1 2018 Quarterly Statistics Report shows that improving fundamentals in the city’s suburban market are driving investor confidence. Suburban office sales led the market by a significant margin in Q1 2018, with our team closing on 14 suburban office buildings in the first three months of this year, compared to eight in all of 2017. In the same quarter, the suburban office market experienced a 150-basis point drop in vacancy rate to 8.1%, the lowest it’s been since Q2 2001, and an increase in rental rates for five of the city’s seven sub-markets.

“We expect the rising investor demand trend in the suburbs to continue as falling vacancy rates will result in lease rate growth,” said Tony Quattrin, our Vice Chairman. “Interest from domestic and foreign investors remains strong for the suburban office market, particularly along suburban transit stations, supporting continued strong values in these areas. In fact, investors in the suburban office market are seeing returns up to 40% higher than downtown Vancouver.”

To view our official press release, click here.


Recent Coverage in the News

Burnaby suddenly Metro Vancouver office hot spot: CBRE – RENX

Rising demand for suburban space makes Metro Vancouver’s outer offices hot properties: Vancouver Sun

Sharp rise in major deals for Vancouver’s suburban office market – Canadian Real Estate Wealth

Suburban Vancouver Office Vacancy Rate Dropping Fast – CoStar

Tony’s Interview with News 1130 Radio Station