Strata space in a new downtown Vancouver office tower is starting to sell as the market grapples with high vacancy.

The Bosa Waterfront property as 320 Granville Street, near the city’s inner harbour, came online in the spring. The 30-storey development contains strata units on the first 18 floors and rental space above.

“We are beginning to see a few office strata sales complete in 320 Granville Street as potential purchasers seem to be more confident in making decisions about their real estate requirements,” Rhys Cartwright, an Avison Young office sales and leasing associate, told Connect.

Avison Young recently represented the purchaser in the acquisition of a strata unit from a private seller for $2,050,125.

Vancouver office demand remains relatively moderate, said Cartwright. But an upswing in momentum appears to be occurring as groups have more defined office requirements and realize that office space will be part of their long-term strategies.