Commercial Real Estate

Your guide to commercial real estate in Metro Vancouver

Office Market

Area Sub-Area Class Vacancy Rate Net Rent Gross Rent
Downtown Vancouver Downtown Core AAA 0.6% $42.17 $63.88
A 0.8% $42.70 $66.24
B 2.1% $33.12 $54.57
C 5.1% $29.45 $47.61
All 1.9% $34.50 $54.75
Gastown/Railtown A 0.0%
B 1.2% $39.00 $57.62
C 2.9% $26.60 $44.67
All 2.1% $36.10 $54.59
Yaletown A 0.0%
B 7.0% $31.71 $49.56
C 2.5% $40.00 $57.96
All 4.5% $33.17 $51.04
Downtown Total AAA 0.6% $42.17 $63.88
A 0.8% $42.70 $66.24
B 2.4% $34.94 $55.21
C 4.2% $29.29 $47.44
All 2.1% $34.77 $54.57
Other Vancouver Broadway Corridor A 2.2% $26.80 $48.90
B 1.9% $30.16 $48.26
C 0.1%
All 1.9% $29.28 $48.43
Vancouver Periphery A 1.8% $35.00 $52.66
B 5.0% $24.51 $50.58
C 4.6% $15.00 $28.79
All 3.5% $26.08 $50.35
Suburbs Burnaby A 5.0% $24.71 $39.49
B 3.7% $19.36 $35.34
C 2.2%
All 4.4% $22.77 $37.98
New Westminster A 0.7% $25.00 $41.52
B 4.1% $18.92 $32.62
C 1.4% $12.00 $31.13
All 2.3% $18.98 $33.67
North Vancouver A 1.6% $18.50 $32.15
B 1.3% $22.79 $39.87
C 2.6% $25.56 $40.41
All 1.5% $21.06 $36.03
Richmond A 6.3% $18.64 $30.89
B 10.1% $15.32 $27.10
C 0.7% $19.00 $31.51
All 7.0% $17.84 $29.98
Surrey AAA 0.9% $28.58 $45.73
A 4.9% $20.16 $29.41
B 4.2% $19.99 $30.83
C 0.3% $25.00 $39.36
All 2.9% $21.78 $33.27
Langley A 0.9% $24.90 $36.44
B 0.0%
C 0.5% $11.00 $20.87
All 0.6% $23.06 $34.37
Suburban Total AAA 0.9% $28.58 $45.73
A 4.2% $22.19 $35.32
B 4.7% $19.56 $34.26
C 1.4% $19.66 $34.96
All 3.8% $21.41 $35.37
Metro Vancouver Total AAA 0.7% $38.17 $56.82
A 2.9% $23.57 37.74
B 3.3% $25.48 $42.26
C 2.8% $27.96 >$45.71
All 2.9% $25.62 $41.56

Source: Colliers Vancouver Q2 2020 Office Market Report

Industrial Market

Vacancy Rate Net Rent Additional Rent
Vancouver 4.7% $17.96 $6.88
Burnaby 1.7% $14.25 $5.32
New Westminster 0.0% $12.95
North Vancouver 1.0% $18.64 $13.15
Richmond 1.9% $13.70 $4.07
Delta 1.3% $11.30 $3.30
Surrey 1.0% $11.49 $3.49
Langley 0.6% $12.17 $2.79
Coquitlam 0.7% $14.41 $4.93
Port Coquitlam 1.9% $13.21 $5.17
Maple Ridge/Pitt Meadows 0.4% $13.59
Abbotsford 1.0% $11.73
Metro Vancouver Total 1.7% $13.15 $4.33

Source: Colliers Vancouver Q2 2020 Industrial Market Report

 

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