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RGD Commercial is pleased to announce the final sale of 535 Thurlow Street in Downtown Vancouver. This quality office building sold at a sub 5% capitalization rate for $15,250,000. After soliciting fifteen written offers and cooperating with multiple agencies RGD Commercial set a new precedent for representing an owner’s interest and maximizing the sale price. To [...] The Broadway Corridor Office Market is a relatively small office market adjacent to Downtown Vancouver. The market itself is a little over 4 million square feet, comprising of 79 buildings and has a current vacancy rate of only 6.3%. The vacancy remains at a competitive level with little change over the quarter. AVAILABLE SPACE SUMMARY AS OF The Burnaby Office Market enters the second quarter of 2010 with a vacancy rate of 13% up slightly from last quarter, of interest though is that the class “A” vacancy has increased to 14.6%, and the market is quickly approaching a million square feet vacant as vacancy increased another 80,000 square feet last quarter with [...] The Downtown Vancouver Office Market remains strong, with vacancy rates increasing slightly in the first quarter of 2010, The Downtown vacancy is only 7.2%. It is also worth noting that the class “A” vacancy rate is only 5.0% while the class “B” vacancy rate decreased by 1% in the quarter to 8.0%. AVAILABLE SPACE SUMMARY AS OF We are pleased to announce that after thoroughly exposing 535 Thurlow Street to the market the building is now under contract. While the Vendor is surprised by the level of interest and the number of potential buyers, we were not. Following our core principle, to operate in our client’s best interest, we cooperated with all sources and had [...] |
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