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The commercial real estate market in the Lower Mainland remained active in the third quarter (Q3) of 2016, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).

There were 645 commercial real estate sales registered in the Lower Mainland in Q3 2016. This represents a 6.3 per cent increase from the 607 sales in Q3 2015.

The total dollar value of commercial real estate sales in the Lower Mainland in Q3 2016 was $2.399 billion, a 1.9 per cent decline from the $2.445 billion in Q3 2015.

“While we saw some declines in office and retail sales this quarter, overall demand in the commercial market remains steady thanks to healthy economic growth in our province so far this year,” said Dan Morrison, REBGV president. “It was the busiest third quarter in the last five years for sales in our commercial market.”

Q3 2016 activity by category

Land: There were 255 commercial land sales in Q3 2016, which is a 23.8 per cent increase from the 206 land sales in Q3 2015. The dollar value of land sales in Q3 2016 was $1.306 billion, a 46.4 per cent increase over $892 million in Q3 2015. 

Office and Retail: There were 203 office and retail sales in Q3 2016, which is an 8.1 per cent decrease from the 221 sales in Q3 2015. The dollar value of office and retail sales in Q3 2016 was $438 million, a 45.4 per cent decrease from $802 million in Q3 2015.

Industrial: There were 153 industrial land sales in Q3 2016, which is up 15.9 per cent over the 132 sales in Q3 2015. The dollar value of industrial sales in Q3 2016 was $335 million, a 17.3 per cent increase over $286 million in Q3 2015.

Multi-Family: There were 34 multi-family sales in Q3 2016, which is a 29.2 per cent decrease from the 48 sales in Q3 2015. The dollar value of multi-family sales in Q3 2016 was $321 million, a 31.2 per cent decrease from $466 million in Q3 2015.

Simon Fraser
Market Update

Simon Fraser Condos

Altaire by Polygon

Altaire built in 2008/2009 reaches higher then any other condo building in Metro Vancouver offering panoramic views.

Novo I by Intergulf

Novo I built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Novo II by Intergulf

Novo II built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Aurora by Polygon

Aurora built in 2006 with 103 condos featuring 36 unique floor plans ranging from 715 sq ft to 1500 sq ft.

One University by Millennium

One University built in 2005 is UniverCity's flagship building with luxury homes featuring semi private elevators.

Harmony by Polygon

Harmony built in 2005 was the first condo development at Univercity & as a result offers a unique setting & views.

Serenity Townhomes by Polygon

Serenity is a collection of 2 bedroom townhomes of 1100 sq ft ranging to 4 bedroom 2000+ sq ft townhomes.

The Hub by Liberty Homes

The Hub built in 2009 is set atop Nester's Grocery and steps from High Street giving these homes an urban feel.

Verdant by VanCity Enterprises

Verdant is a two storey town home building built with environmental design and stylish living spaces which complement the modern exterior of these SFU homes.

Origin by Porte Development

Origin is designed by GBL Architect & BYU Interior Designs, developed by Porte Development Corp. and marketed by Red Dot Real Estate.

Nest by Mosaic

Located on UniverCity High Street across from the new University Highlands elementary schools this refreshing building will add further depth to a growing community.

Highland House by Liberty Homes

A 12-storey concrete high-rise development and targeted towards Rental Investors and First-Time Condo Buyers.

Lift by Porte Development

Lift will be a wood frame building comprising of 56 homes. Building technologies, environmental features, and price points should be similar to Origin.

Altitude by Hungerford Group

Altitude will be a 2 tower development comprising of a 12 and 14 story building with a total of 210 strata units.

CentreBlock by Liberty Homes

CentreBlock at UniverCity atop Burnaby Mountain is the latest condo project with sales commencing early 2014. .

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