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Research

Metro Vancouver Commercial Strata Overview 2017

Metro Vancouver Commercial Strata Overview 2017

Metro Vancouver Commercial Strata Overview 2017
  • The Metro Vancouver commercial strata market recorded just over $700 million in total sales volume in 2016. Looking at the first half of 2017, the region recorded just over $48 million in volume.
  • Within the office asset, Vancouver recorded the highest average price per square foot at $830, with Surrey recording 53% of the total volume.
  • The retail market in 2017 saw nearly half the volume originate from two markets: New Westminster (26%) and Surrey (21%). Richmond recorded the highest average price per square foot at $997.
  • Cumulatively in 2017, the industrial market represented 46% of all strata sales volume. The majority of the sales occurred within Surrey, Richmond and Delta. The industrial strata asset achieved a sales point average of $211 per square foot; however, more recent trends in urbanized areas suggest an increase in sale prices, which are rising to the high 300s to low 400s (dollars) per square foot.

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