Thompson Okanagan Office Market Report Q3 2019

research article

Thompson Okanagan Market Outlook

Thompson Okanagan vacancy rates fall below 4% as the market awaits new inventory. Limited supply has contributed to net rental rates increasing 13.1% since Q3 2018. 

  • Absorption remains highest within Kelowna's Class A office space.
  • Class C inventory in both the Kelowna and Vernon markets experience higher vacancy rates at 7.3% and 10.6% respectively. 

 


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Thompson Okanagan Office Market Report Q3 2019

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Craig Hennigar

Senior Director | Valuation and Consulting Services

Vancouver

Craig is a Senior Director in the Valuation and Advisory Services group at Colliers and holds the AACI, P.App and CFA designations.  He offers appraisal and consulting services in the Greater Vancouver and Fraser Valley area as well as throughout British Columbia with particualr focus on the following assets and services: Commercial Property, Industrial Property, Expropriation Valuation, Hospitality Property and Recreational Land, and Multi-Family Property.

Craig is the former Director of Market Intelligence for Canada as well as a real estate broker and appraiser with over 25 years of experience in commercial real estate with work experience is focused on providing strategic and transactional assistance to national real estate firms.  With professional experience in real estate research, valuation, development, management, finance, consulting, and portfolio management roles he has worked with all major asset classes for valuation of both income producing real estate as well as expropriation, development projects.  His client list includes firms in the finance, technology, aerospace, and logistical industries as well as real  estate firms and has additional work experience providing ongoing economic knowledge, research, forecasting and review of the Canadian and international environment.

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