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Vancouver Office Market Report Q3 2020

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research article

The Greater Vancouver office market is seeing a steady increase of sublease space during the Covid-19 pandemic. This has led to a second consecutive quarter of negative absorption. Although vacancy is increasing, the average gross rental rate saw a small increase of 1%.

  • Greater Vancouver has seen an increase in office vacancy of 110 bps to 4.1%, back up to levels that have not been seen since Q4 2018.
  • Downtown has seen the largest amount of sublease space come to market; 40% of all space is now attributed to sublease.

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Vancouver Office Market Report Q3 2020

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For More Information, Please Contact:

Maury Dubuque

Senior Managing Director

Vancouver

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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