Office Users Showing Interest in New Vancouver Strata Space
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.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.