Q4 2009 Office Property Market Trends New Westminster - BC
Industrial market summary Q4 2009 Class All Classes A B C
Buildings 19 5 12 2
Inventory (sq ft) 927,603 239,899 594,963 92,741
Total available (sq ft) 124,594 36,788 56,196 31,637
Q4 2009 average asking face rates and additional rent costs
Vacancy rate 13.4% 15.3% 9.4% 34.1%
Sublet vacancy rate 4.4% 0 7.0% 0
Vacancy rates
$40.00
40.00%
$35.00
35.00%
$30.00
Sublet available (sq ft) 41,369 0 41,639 0
30.00%
$25.00
25.00%
All Classes
$20.00
Class A
20.00%
$15.00
Class B Class C
15.00%
$10.00
10.00%
$5.00 $0.00
5.00% All Classes
A
B
0.00%
Average TMI ($/Sq ft)
Q4 2008
Average Asking Rate ($/Sq ft)
Direct and sublet vacancies
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q4 2009 vacancy by asset class type
200000
Direct A 22%
Sublet B 25%
180000 160000 140000
(sq ft)
120000 100000 80000 60000 40000 20000
Direct C 19%
0 Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Direct B 34%
Sublet Vacant Direct Vacant Data Overview - Sources: - Altus InSite Office Market - Available Space History (1/25/2010) - Altus InSite Office Market - Occupancy Costs History (1/25/2010)
For more information please contact:
- This document should not be relied upon as a basis for entering transactions without seeking specific, qualified advice. Whilst facts have been rigorously checked, DTZ Barnicke can take no responsibility for any damage or loss suffered as a result of any inadvertent inaccuracy within this document.
DTZ Barnicke Vancouver Limited
Q4 2009 Office Property Market - New Westminster
Anthio Yuen, Director of Research Anthio.Yuen@DTZBarnicke.com (604) 630 3405
800 - 475 West Georgia Street, Vancouver, B.C. V6B 4M9 Tel: (604) 684 7117 Fax: (604) 684 1017 www.dtzbarnicke.com/vancouver