Nick Dauphinee’s Post

Vancouver and Toronto are increasingly in a battle to fill up the inventories of expensive, shiny, new offices amid higher vacancy and a more aggressive subleasing market, write Rob Purdy and Ryan McIver. This levelling-up of workspace quality, amenities and tactics will have implications on vacancy, valuations, and the strategic decision-making by landlords and the companies and workers they host. What should owners and tenants do to stay competitive? Learn more: https://ow.ly/uvpU50QQrvg #ColliersCanada

Vancouver and Toronto are increasingly in a battle to fill up the inventories of expensive, shiny, new offices amid higher vacancy and a more aggressive subleasing market, write Rob Purdy and Ryan McIver. This levelling-up of workspace quality, amenities and tactics will have implications on vacancy, valuations, and the strategic decision-making by landlords and the companies and workers they host. What should owners and tenants do to stay competitive? Learn more: https://ow.ly/y4UV50QSthE #ColliersCanada

Vancouver and Toronto are increasingly in a battle to fill up the inventories of expensive, shiny, new offices amid higher vacancy and a more aggressive subleasing market, write Rob Purdy and Ryan McIver. This levelling-up of workspace quality, amenities and tactics will have implications on vacancy, valuations, and the strategic decision-making by landlords and the companies and workers they host. What should owners and tenants do to stay competitive? Learn more: https://ow.ly/nVUf50QQHOT #ColliersCanada

Landlords have struggled to shift large London offices this year, as nerves over hybrid working and higher interest rates continue to plague the upper end of the market. Only a few office buildings in London have sold for over £100m in the first half of the year, an analysis from CoStar found, none of which were in the City. Property giants Great Portland Estates (GPE) and Derwent have both put expensive buildings on the market only to find deals fall through or that they have to pull them from the market after offers fell short of expectations. The higher interest rate environment of the last two years has pushed down on top-line prices of commercial property, as market players struggle to afford the upfront cost of the property and any credit servicing. ✍️ Ali Lyon Continue reading here 👇 https://lnkd.in/dJ4aeq7G

Downtown Vancouver's office vacancy rate experienced a decrease from 11.8% in Q3 2024 to 11.0% in Q4 2024, driven by 212,000 sq ft of net absorption. The suburban office vacancy rate in Metro Vancouver increased from 7.2% to 7.7% during the same period. The overall office vacancy rate for Metro Vancouver slightly decreased from 9.6% to 9.4%. Although current vacancy rates are elevated, Vancouver's office vacancy rates, including downtown, suburban, and regional, remain among the lowest compared to major urban centers in Canada and the United States. Read more here: https://lnkd.in/gUAPPtEf #office #officeleasing #realestatemarket #vancouverrealestate

🏢 Calgary’s downtown office market is indeed getting healthier. The overall availability – particularly the vacant component of downtown office space posted another quarter-over-quarter decrease as we moved into 2024. 🧱Just under 211,000 square feet of space was taken, which includes South Bow Corporation taking approximately 87,000 square feet of space in 707 5th and National Bank of Canada taking approximately 44,000 square feet of space in Banker’s Court. 🏙As of March 31, there were just under 1,077 spaces throughout downtown #yyc being marketed for immediate occupancy. 🏗The last time there were these few listings was the 4th quarter of 2017 when, coincidentally, downtown inventory was similar to present as it was prior to the completion of TELUS Sky. ✍ Get the full scoop about #Calgary’s Downtown Office Landscape for the first quarter via the link in our bio. Questions? Reach out to to our #localexperts: 🤳Anthony B. Scott Director of Research ascott@barclaystreet.com 🤳Wanda E. Senior Associate weilers@barclaystreet.com 🤳Bill Falagaris Executive Vice President bfalagaris@barclaystreet.com 🤳Kris Hong Executive Vice President, Partner khong@barclaystreet.com 🤳Murray Ion Associate mion@barclaystreet.com 🤳Allan Jones Executive Vice President ajones@barclaystreet.com 🤳Ian Robertson Associate irobertson@barclaystreet.com #CommercialRealEstate #officecre #localexpertisematters #yycrealestate #yycbrokerage TCN Worldwide

The increase in the amount of office space being leased stemmed from the successful pre-leasing of new buildings in downtown Vancouver (which has Canada’s lowest vacancy at 10.9%) and downtown Winnipeg. The north tower of The Post and B6 in Vancouver, and Wawanesa Tower in Winnipeg, are nearly or fully pre-leased. These were the only two Canadian markets to see a notable absorption of office space in Q1. Their success offset further softness in Toronto, which saw downtown vacancy rise to 18.0% in the first quarter. #CommercialPropertyAppraisalCanada #RealEstateAppraisalCanada #canada #realestateagent #VancouverNetworking #vancouverrealestate #officespace #newlistinginvancouver #newlisting

Edmonton’s office market has remained relatively stagnant at 20.3% vacancy. Although absorption has been slightly positive, this soft market has yet to see the impact of leases executed pre-pandemic that will come due, writes Taylor Riar, Associate Vice President. Find out what landlords are doing to combat the softer office market to make their assets stand out from the rest. Read now: https://lnkd.in/e2EP3xdJ

Fact: Office space values in NYC have dropped 40% since the pandemic, with interest rates doubling and vacancy rates soaring. 🏢 Converting commercial properties into residential units could offer landlords and developers a strategic advantage. This approach not only aligns with high housing demand but also leverages existing infrastructure for cost and time efficiencies. However, navigating regulatory and technical challenges is key. Take a look at the potential challenges and opportunities. 👇 #RealEstate #UrbanRevitalization #PropertyDevelopment

With office vacancy rates continuing to rise, many landlords are looking to enhance amenities to attract tenants, according to Colliers’ Q1 National Market Snapshot, released today. Adam Jacobs, national head of research at Colliers Canada spoke with Clarrie Feinstein at the Toronto Star about how landlords are adapting to an evolving market and which asset classes are showing signs of recovery. Read the full article here: https://ow.ly/pV9x50Ri9cu