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Victoria Office Market Report Q3 2020

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research article

The Greater Victoria office market is performing steadily throughout the Covid-19 pandemic. With shocks to office markets globally, Victoria has seen a marginal increase in office vacancy of 2 bps.

  • Greater Victoria office investment for the first 9 months of 2020 compared to this same period in 2019 is down 35% by total transaction volume. Transaction volume per dollar sold in 2020 is down 70% compared to the first 3 quarters of 2019.
  • The vacancy for Class A buildings is at a healthy 4.18% with no shifts in absorptions.
  • Class B+ at 4% with positive absorption for the quarter of 6.5K SF.


Victoria Office Market Report Q3 2020

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For More Information, Please Contact:

Tyler Dolan

Managing Director, Vancouver Island and Okanagan


yler Dolan is the Managing Director, Vancouver Island and Okanagan responsible for the execution of Colliers business strategy in the region. He is also the National Debt Advisory Lead for Canada.

Tyler has been active in the commercial real estate industry since 2001, and spent the majority of his career in both real estate and commercial finance with major financial institutions.

Tyler joined Colliers’ Leadership Team in May 2018 working with advisors and operations staff on the success of their clients’ real estate needs. His priorities include business development, employee engagement, professional development, recruiting, market identity, financial management and performance.

Tyler is an alumnus of Royal Roads University with a Bachelor of Commerce, Camosun College with a Diploma in Business Administration, and UBC Sauder School of Business in Mortgage Brokerage Brokerage and Real Estate Trading Services in British Columbia.

Tyler is a past Board Member of the Downtown Victoria Business Association, Peninsula Minor Hockey Association, the Urban Development Institute, and the Victoria Brain Injury Society.

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