{"id":28665,"date":"2026-11-03T10:10:17","date_gmt":"2026-11-03T18:10:17","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=28665"},"modified":"2026-11-03T10:13:41","modified_gmt":"2026-11-03T18:13:41","slug":"commercial-real-estate-shows-a-selective-rather-than-broad-based-recovery-in-the-lower-mainland","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2026\/11\/commercial-real-estate-shows-a-selective-rather-than-broad-based-recovery-in-the-lower-mainland\/","title":{"rendered":"Commercial Real Estate Shows A Selective Rather Than Broad-Based Recovery in The Lower Mainland"},"content":{"rendered":"<p style=\"text-align: justify;\">Commercial transactions moved lower in the second quarter of 2026, down three per cent relative to last year, and down 14% relative to last quarter.<\/p>\n<p style=\"text-align: justify;\">There were 285 commercial real estate sales in the Lower Mainland in Q2 2026, a 2.7% decrease from the 293 sales in Q2 2025, according to data from Commercial Edge, a commercial real estate system operated by Greater Vancouver Realtors (GVR).<\/p>\n<p style=\"text-align: justify;\">The total dollar value of commercial real estate sales in the Lower Mainland was $1.541 billion in Q2 2026, a 16.3% increase from $1.325 billion in Q2 2025.<\/p>\n<p style=\"text-align: justify;\">\u201cThe drift lower in Q2 isn\u2019t surprising given recent global economic turmoil, particularly with respect to surging US bond yields acting as harbinger of potential economic trouble ahead, worrying investors,\u201d said Andrew Lis, GVR chief economist and vice-president data analytics. \u201cWhile Canada\u2019s bond markets are separate from that of the US, major shifts like we\u2019re seeing in the US have knock-on effects, and historically, Canada has rarely been immune to such effects. Until there is some form of stable resolution to the situation in Iran, we expect the turbulence to continue.\u201d<\/p>\n<p style=\"text-align: justify;\">\u201cA noteworthy soft spot in the second quarter data is the large pull back in office transactions which fell 42% from last quarter. Among all Q2 office transactions, only two transacted at prices north of ten million, which dragged office dollar volume down 63% from the previous quarter,\u201d Lis said. \u201cOn the flip side, while still quite low relative to historical standards, land transactions continue at a similar pace to recent quarters, which is surprising given current dynamics in the residential development space. With a sizeable overhang of newly completed and unsold units that have been slow to sell due to weak demand, the stability observed in the land market is interesting, perhaps signalling a bottom for land is in.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>Q2 2026 Activity by Asset Class<\/strong><\/p>\n<p style=\"text-align: justify;\">Land : There were 56 commercial land sales in Q2 2026, which is a 3.7% increase from the 54 land sales in Q2 2025. The dollar value of land sales was $537 million in Q2 2026, a 38.9% increase from $386 million in Q2 2025.<\/p>\n<p style=\"text-align: justify;\">Office : There were 46 office sales in the Lower Mainland in Q2 2026, which is a 28.1% decrease from the 64 sales in Q2 2025. The dollar value of office sales was $144 million in Q2 2026, a 68.4% increase from $85 million in Q2 2025.<\/p>\n<p style=\"text-align: justify;\">Retail &amp; Other : There were 82 retail (&amp; other) sales in the Lower Mainland in Q2 2026, which is a 3.8% increase from the 79 sales in Q2 2025. The dollar value of retail sales was $442 million in Q2 2026, a 0.9% increase from $438 million in Q2 2025.<\/p>\n<p style=\"text-align: justify;\">Industrial : There were 81 industrial land sales in the Lower Mainland in Q2 2026, which is a 2.4% decrease from the 83 sales in Q2 2025. The dollar value of industrial sales was $226 million in Q2 2026, a 31.9% decrease from $332 million in Q2 2025.<\/p>\n<p style=\"text-align: justify;\">Multi-Family : There were 20 multi-family land sales in the Lower Mainland in Q2 2026, which is a 53.8% increase from 13 sales in Q2 2025. The dollar value of multi-family sales was $193 million in Q2 2026, a 131.6% increase from $83 million in Q2 2025.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/members.gvrealtors.ca\/news\/GVR-Q2-2026-Commercial-Edge-Report.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view GVR&#8217;s Q2 2026 Commercial Edge Market Report.<\/p>\n<p><a href=\"https:\/\/gvrealtors.ca\/news\/transactions-slide-in-q2\" target=\"_blank\" rel=\"noopener\">Commercial Edge Market Report &#8211; Transactions Slide in Q2-2026<\/a> by GVR<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Commercial transactions moved lower in the second quarter of 2026, down three per cent relative to last year, and down 14% relative to last quarter. There were 285 commercial real &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2026\/11\/commercial-real-estate-shows-a-selective-rather-than-broad-based-recovery-in-the-lower-mainland\/\">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":[8,13],"tags":[],"class_list":["post-28665","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Commercial Real Estate Shows A Selective Rather Than Broad-Based Recovery in The Lower Mainland &#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\/2026\/11\/commercial-real-estate-shows-a-selective-rather-than-broad-based-recovery-in-the-lower-mainland\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Commercial Real Estate Shows A Selective Rather Than Broad-Based Recovery in The Lower Mainland &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Commercial transactions moved lower in the second quarter of 2026, down three per cent relative to last year, and down 14% relative to last quarter. 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