{"id":11286,"date":"2019-01-05T11:11:30","date_gmt":"2019-01-05T19:11:30","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11286"},"modified":"2019-01-04T09:57:35","modified_gmt":"2019-01-04T17:57:35","slug":"growing-demand-surges-for-strata-office-space-in-vancouver","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/01\/growing-demand-surges-for-strata-office-space-in-vancouver\/","title":{"rendered":"Growing Demand Surges for Strata Office Space in Vancouver"},"content":{"rendered":"<p style=\"text-align: justify;\">As Vancouver\u2019s vacancy rate for office space remains among North America\u2019s lowest, there\u2019s growing appetite for strata office developments in the city.<\/p>\n<p style=\"text-align: justify;\">Driven primarily by low downtown vacancies and, consequently, surging rents\u2014and compounded by large companies like Amazon, Apple and Deloitte buying hundreds of thousands of square feet of office space\u2014Vancouver has become inhospitable to smaller businesses looking to set up shop. Not surprisingly, savvy investors have taken note and are beginning to fulfill this need in the marketplace.<\/p>\n<p style=\"text-align: justify;\">\u201cThere is great opportunity for investors looking to purchase space, particularly when you consider the many strong, local businesses looking to lease space in a AAA building,\u201d said Matt Carlson, vice president of Colliers International. \u201cThese businesses are often unable to find a landlord who is willing to lease less than 10,000 square feet, or in some cases less than 20,000 square feet. Investors purchasing smaller units will have many tenants interested in renting space from them at historically high rental rates.\u201d<\/p>\n<p style=\"text-align: justify;\">Chard Development has capitalized on the demand and built The Yukon in the Mount Pleasant neighbourhood, with strata units designed for creative or light industrial ventures and for businesses with as many as 30 employees.<\/p>\n<p style=\"text-align: justify;\">Byron Chard, principal and chief financial officer of Chard Development, notes that the neighbourhood\u2019s appeal alone has attracted investor attention. A slew of residential and retail developments line the streets of Cambie and Main and within the Olympic Village, quickly turning it into one of Vancouver\u2019s most desirable neighbourhoods.<\/p>\n<p style=\"text-align: justify;\">\u201cStrata office ownership isn\u2019t exclusive to those looking to relocate or establish a business within their purchased space,\u201d said Chard. \u201cSavvy investors are also able to take advantage of this opportunity and to lease their space to business owners looking to set up shop in this coveted neighbourhood. In our experience, we have had many buyers purchase multiple units\u2014one for themselves and one for investment or future growth planning.<\/p>\n<p style=\"text-align: justify;\">\u201cWith our Mount Pleasant projects, we\u2019ve seen interest from the creative class of businesses who have long appreciated that neighbourhood\u2014including architects, design firms and furniture retailers\u2014as well as the high-tech businesses who have made this area home in recent years. With the Yukon, we\u2019ve seen interest from smaller professional firms, as well as film production companies, breweries, coffee roasters, and food uses that have a production component.\u201d<\/p>\n<p><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/demand-surges-for-strata-office-space-252313.aspx\">Demand Surges for Strata Office Space<\/a> by Neil Sharma | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As Vancouver\u2019s vacancy rate for office space remains among North America\u2019s lowest, there\u2019s growing appetite for strata office developments in the city. Driven primarily by low downtown vacancies and, consequently, &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/01\/growing-demand-surges-for-strata-office-space-in-vancouver\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-11286","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Growing Demand Surges for Strata Office Space in Vancouver &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/01\/growing-demand-surges-for-strata-office-space-in-vancouver\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Growing Demand Surges for Strata Office Space in Vancouver &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"As Vancouver\u2019s vacancy rate for office space remains among North America\u2019s lowest, there\u2019s growing appetite for strata office developments in the city. Driven primarily by low downtown vacancies and, consequently, &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/growing-demand-surges-for-strata-office-space-in-vancouver\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/growing-demand-surges-for-strata-office-space-in-vancouver\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Growing Demand Surges for Strata Office Space in Vancouver\",\"datePublished\":\"2019-01-05T19:11:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/growing-demand-surges-for-strata-office-space-in-vancouver\\\/\"},\"wordCount\":413,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/growing-demand-surges-for-strata-office-space-in-vancouver\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/growing-demand-surges-for-strata-office-space-in-vancouver\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/growing-demand-surges-for-strata-office-space-in-vancouver\\\/\",\"name\":\"Growing Demand Surges for Strata Office Space in Vancouver &#8226; 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