Vancouver Office Market Report Q3 2019

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research article

Vacancy rates have decreased for the 13th consecutive quarter to 3.1% resulting in a 50 basis point drop since the second quarter of 2019

Vacancy rates have decreased for the 13th consecutive quarter to 3.1% resulting in a 50 basis point drop since the second quarter of 2019 demonstrating further tightening in the Metro Vancouver office market.

  • Vacancy in the Central Business District (CBD) decreased 40 basis points from 2.5% to 2.1% while the overall market awaits the arrival of new supply.
  • The third quarter ended with positive absorption at 333,991 square feet, most of which originated from the suburban markets at 194,394 square feet while Downtown core absorbed 128,865 square feet.

Office Market Report

Vancouver Office Market Report Q3 2019

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Maury Dubuque | Colliers International | Vancouver

Maury Dubuque

Senior Managing Director


Maury is the Senior Managing Director of the Vancouver Brokerage at Colliers International, Canada’s leading commercial real estate services firm.  Maury has been working in the commercial real estate industry for close to three decades and is a leading authority on the commercial office market in the Greater Vancouver Area. Known for his extensive network and deep industry knowledge, Maury is highly skilled at assembling teams that are aligned with a client’s needs and deliver enduring value.

Maury joined Colliers in 2011 after spending more than 10 years in office and industrial leasing at a leading global real estate services firm. Appointed Managing Director of the Vancouver brokerage in 2013, Maury currently oversees more than 165 brokerage and support staff, a high-performance team that consistently ranks among Colliers’ top producing groups nationally.

Under his leadership, Maury fosters an enterprising culture that encourages collaboration, superior client service and mentorship. Maury was integral in the creation and launch of the Colliers Acceleration Program to train junior advisors in key foundational and technical skills required to build their careers in commercial real estate. After piloting in two Canadian markets in 2015, the program launched across Canada in 2016 and now runs in 30 markets across North America. 

Maury is a member in good standing of NAIOP Commercial Real Estate Development Association – Vancouver Chapter, the Real Estate Board of Greater Vancouver, the Greater Vancouver Board of Trade, the International Council of Shopping Centres and the Marine Drive Golf Club.

Maury holds a Bachelor of Arts in Urban and Economic Geography from Simon Fraser University and a Diploma in Urban Land Economics from the University of British Columbia.


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Derrick Gonzales | Colliers International | Vancouver

Derrick Gonzales

Research Analyst


As Market Intelligence Analyst with Colliers International, Derrick is responsible for producing quantitative and qualitative analyses, market research and quarterly reporting for the organization’s Vancouver market. Derrick’s primary responsibilities include market research, forecasting, and due diligence.

Prior to joining Colliers, Derrick was with Cushman & Wakefield and CBRE responsible for property market analysis and advisory. Derrick has an Undergraduate Degree in Urban Geography from The University of British Columbia and an Advanced Diploma in Geographic Information Systems from the British Columbia Institute of Technology.

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