Melanie Jackson, Vancouver Sun
April 7, 2014
VANCOUVER — Finally climbing out of the 2008 slump, the North Shore scored more than $197 million in 2013 commercial real estate sales, surging ahead of 2012’s $113 million, according to an Avison Young report.
Although this reflects the “rise of multiple mixed-use nodes,” the area stays shy of meeting demand for multi-family developments.
“If you were to examine vacancy rates in the three segments of the market being industrial, office and retail, you’d find across the board the vacancy rate in industrial is by the far the lowest. So the North Shore is no different than any other market in that regard,” says Terry Thies, principal with Avison Young.