Land sales lead commercial real estate activity in first quarter of 2014 - See more at: http://www.rebgv.org/news-statistics/land-sales-lead-commercial-real-estate-activity-first-quarter-2014

An upswing in vacant land transactions helped the commercial real market maintain a steady pace in line with historical activity in the Lower Mainland, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV). 

The total dollar value of commercial sales in the region was $1.4 billion in the first quarter (Q1) of 2014, a 45.5 per cent increase from Q1 2013. This is the second highest Q1 dollar value total in the last five years.

There were 441 commercial real estate sales in the Lower Mainland in Q1 2014, according to Commercial Edge. This is a 14.2 per cent increase compared to the 386 sales recorded in Q1 2013, a 9.1 per cent decline from the 485 sales recorded in Q1 2012, and a 0.5 per cent increase from the 439 sales recorded over the same period in 2011.

“After a strong 2013, office and retail activity declined in the first quarter while vacant land transactions in the Lower Mainland outsold all other commercial categories over this period,” Ray Harris, REBGV president, said.

Q1 2014 activity by category

Land:There were 160 commercial land sales registered with LTSA in the Lower Mainland in Q1 2014, up 73.9 per cent from the 92 land sales in Q1 2013. The dollar value of land sales in Q1 2014 was $698 million, up 96.7 per cent from $355 million in Q1 2013.

Office and Retail: There were 144 office and retail sales in the Lower Mainland in Q1 2014, a 9.4 per cent decline from the 159 office and retail sales in Q1 2013. The dollar value of office and retail sales in Q1 2014 was $365 million, a 38.3 per cent increase from $264 million in Q1 2013.

Industrial: There were 109 industrial land sales in the Lower Mainland in Q1 2014, which is unchanged from the 110 industrial land sales in Q1 2013. The dollar value of industrial sales in Q1 2014 was $227 million, an 11.7 per cent decline from $257 million in Q1 2013. 

Multi-Family: There were 28 multi-family sales in the Lower Mainland in Q1 2014, which is up 12 per cent from the 25 sales in Q1 2013. The dollar value of multi-family sales in Q1 2013 was $129 million, a 30.4 per cent increase from $99 million in Q1 2013.

 

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. .

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.