During the process of investing in commercial property in Vancouver and beyand, you'll unearth countless questions. We know how difficult it can be to sift through all the details in order to find answers relevant and meaningful to you. At VAN/CRE and RE/MAX Commercial, we've delivered the following reports that provide clear, concise and useful information on a wide range of issues related to commercial real estate. We'd be happy to personally answer any questions you may have.
Recent Market Reports & Media Appearances
Western Investor July 2022 Digital Edition
"On the leasing front, Da Cruz doesn’t see activity slowing down in the near term. Pre-leasing activity is holding steady, and the major tech companies are sticking with their space commitments, he noted. "There’s just nothing to support that there is a trepidation,” Da Cruz said. “Amazon isn’t expanding because they’re hopeful.”
RE/MAX Commercial Report Canada 2022
Steve Da Cruz is very grateful to again represent the greater Vancouver market area in this national overview.
The RE/MAX Canada 2022 Commercial Real Estate Report found demand for industrial, multi-unit residential—particularly purpose-built rentals— and farmland was unprecedented in the first quarter of 2022, with values hitting record levels, while retail and office are starting to show signs of growth in multiple markets.
While demand for commercial real estate remains strong across all asset classes in Metro Vancouver, ‘beds and sheds’ continue to be top market performers, despite a critical shortage of inventory. Industrial availability, to illustrate, has dropped to less than one per cent*, with land constraints compounding an already tight market. Overall investment in the first quarter of 2022 topped $2 billion*, but could have easily gone higher if more product was available.
RE/MAX Commercial Investor Report 2021 Western Canada
Steve Da Cruz is pleased to present and contribute toward the 2021 RE/MAX Commercial Real Estate Report, highlighting trends and developments in seven major centres in Western Canada.
E- commerce has been the biggest winner in 2020, a trend that accelerated, and then doubled, year-over year. The impact on mall vacancy rates has been significant, hovering at 5.5 per cent at year-end 2020. With large companies like Brookfield pushing forward with retail conversion to distribution models within their U.S. portfolio, it may only be a matter of time for this approach to be mirrored in Canada. The retail environment is expected to recover somewhat in the year ahead as operators return to a ravenous market with decreased competition. Proper structuring of triple net leases can return premium net operating income for investors in unexpected corners. Scooping these properties out early and riding the short-term with percentage rents may be looked back upon with envy by those who ’followed the crowd’ in 2020.
Opportunities for Entrepreneurs post-Covid
"Some bullish new businesses are taking the opportunity created by vacancies and a smaller field to establish themselves in physical locations that may have been out of reach in recent years", says Steve Da Cruz, vice-president at Re/Max Commercial Advantage in Vancouver.
RE/MAX Commercial Investor Report 2020 Western Canada
While endless challenges faced commercial real estate markets in 2020, investors and end users in Western Canada showed incredible resilience in their ability to both adapt to changing conditions and position themselves for the future, according to a report released today by RE/MAX of Western Canada.
RE/MAX Commercial Investor Report 2019 Western Canada
Co-working space has experienced a surge in popularity with up to 1.5 million square footage in Vancouver being either occupied or under construction – a 250 per cent increase since 2014. This is especially true for shared office space and warehousing for retailers. Vancouver's retail landlords have found it difficult to get traditional commercial financing in the region due to concerns over high risk.
RE/MAX Commercial Investor Report 2018 Western Canada
"While the past two years were exceptional in Greater Vancouver’s commercial property market, the first half of 2018 has returned to historical norms. There were 523 commercial property sales in the first quarter of 2018, compared to 886 sales during the same period last year. However, continued growth in Vancouver’s technology sector continues to drive demand for both office space and industrial space throughout the region. Larger tenants like Amazon and WeWork continue to expand and are expected to further increase inventory in the region going into next year."
RE/MAX Commercial Investor Report 2017 Western Canada
In contrast to growth in Alberta, Greater Vancouver’s commercial property market slowed during the first half of 2017 after significant total dollar value and activity increases during the same period in 2016. There were 595 commercial property sales in the second quarter of 2017, compared with 875 sales during the same period last year. The slowdown in activity is due to a lack of supply across the market, limiting opportunities for investors.
RE/MAX Commercial Investor Report 2016 Western Canada
B.C.’s Lower Mainland was brisk with activity, as prices continued to increase significantly in the commercial property market. The total dollar value of commercial real estate sales in the Lower Mainland in the first half of the year was $7.135 billion, an increase of 94 per cent over 2015, with land the most in-demand property type.
RE/MAX Commercial Investor Report 2015 Western Canada
“While commercial real estate activity in most of Western Canada has been dampened by the drop in oil prices, investor confidence has remained high in Greater Vancouver,” said Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “Land is in highest demand from local companies looking at long term opportunities.”