Q4 2009 Office Property Market Trends Downtown Vancouver - BC
Office market summary Q4 2009 Class All Classes A B C
Buildings 156 50 52 54
Inventory (sq ft) 20,493,095 12,426,036 5,305,242 2,761,817
Total available (sq ft) 1,036,493 394,858 328,236 313,399
Vacancy rate 5.1% 3.2% 6.2% 11.3%
Sublet available (sq ft) 388,510 175,683 148,405 64,422
Sublet vacancy rate 1.9% 1.4% 2.8% 2.3%
Q4 2009 vacancy by asset class type
Q4 2009 average asking face rates and additional rent costs $70.00
Sublet B 10%
$60.00
Sublet C 5% Direct A 28%
$50.00 $40.00
Sublet A 12%
$30.00 $20.00 $10.00 $0.00 All Classes
A
B
C
Direct C 22%
Average TMI ($/Sq ft)
Direct B 23%
Average Asking Face Rate ($/Sq ft)
Direct and sublet vacancies
Vacancy rates 12.00%
1600000 1400000
10.00%
1200000
(sq ft)
1000000
8.00% All Classes
800000
Class A
6.00%
600000
Class B Class C
400000
4.00%
200000
2.00%
0 Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Sublet Vacant Direct Vacant
0.00% Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Data Overview - Sources: - Altus InSite Office Market - Available Space History (1/25/2010) - Altus InSite Office Market - Occupancy Costs History (1/25/2010) - 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.
Q4 2009 Office Property Market - Downtown Vancouver
DTZ Barnicke Vancouver Limited
800 - 475 West Georgia Street, Vancouver, B.C. V6B 4M9 Tel: (604) 684 7117 Fax: (604) 684 1017 www.dtzbarnicke.com/vancouver