With multiple established companies currently looking for space in the Richmond and Delta markets, Colliers senior associate Stefan Morissette (right) is optimistic about the mid- to large-bay leasing market. He and colleague Andrew Lord (left) are working with eight tenants, from 10k SF to 130k SF, in Richmond and Delta—three of which are in the food industry. (The other five will be well fed.) "This activity is surprising as the lease market has been quite stagnant in the first half of the year," he tells us.
Stefan says another notable trend is that despite the slow leasing market, two major landlords in Richmond and Delta are moving forward with spec lease developments. Grosvenor is building 160k SF on Annacis Island (1005 Derwent Way, above), and Sun Life is building two new multitenant buildings totaling over 150k SF at 13240 Worster Ct in Richmond. Both are scheduled to be completed over the next year.