By Roy Gibbs, LL.B. Many commercial tenants have a clause in their lease that allows them to renew or extend their current lease. Every lease is unique and should be reviewed carefully to understand the specific requirements to effectively exercise the option to renew or extend as outlined in the lease. The benefit to tenants is that, if they are occupying a space that they have invested in or...
In our Q1 snapshot we delve into critical economic events shaping the landscape in 2024 and analyze the latest trends in the Metro Vancouver office market. Economic Overview The Bank of Canada has maintained its key policy interest rate at 5% amidst stalling economic growth and inflation hovering near the upper end of the control range. Anticipation of rate cuts looms, with market predictions suggesting...
with Mark Kurkdjian and Marshall MacLeod Unlocking Your Potential: Your Community's Transformation Begins Now We would like to advise you on the future of Garibaldi Estates. This 20-year vision goes beyond urban planning; it's a shared journey to enhance your home, your investment, and your community. Project Timeline: Key Stages to Watch Garibaldi Estates Sub Areas The Garibaldi...
Q2 2023 Retail Real Estate Review with Mark Kurkdjian and Sukh Pannu Subtle Shifts in Market Momentum The retail real estate market, never a stranger to change, marked a few noticeable shifts during the second quarter of 2023. As we delve into the details, let’s remember that the character of change is not merely in the shifts themselves but also in the ability of market players to...
May 2023 | Mark Kurkdjian and Sukh Pannu May 2023 Edition: Downtown Vancouver Office Space Trends and Insights Navigating the Downtown Vancouver commercial real estate terrain demands understanding its ever-evolving landscape. As May 2023 unravelled, big changes from April underscored the need to understand the dynamics of available, leased, and off-market spaces. These changes outlined the importance...
Mark Kurkdjian | May 2023 Exciting changes are on the horizon for Vancouver! Traditionally known for its single-family neighbourhoods, the Cambie Corridor is gearing up for a remarkable transformation in the coming 30 years. Photo courtesy from Construction Canada (https://www.constructioncanada.net/sprawling-vancouver-mixed-use-development-creates-a-new-municipal-town-centre/) Future...
Mark Kurkdjian | May 2023 The Vancouver Plan: A Comprehensive Guide to Vancouver's Future Real Estate Landscape Photo credit: The Vancouver Plan. Retrieved from https://vancouverplan.ca/wp-content/uploads/Vancouver-Plan-2022-09-23-1.pdf The Vancouver Plan, an ambitious long-term land use and development strategy, aims to shape the City's future over 30 years. The Plan seeks to create a...
April 2023 Commercial Real Estate Roundup with Mark Kurkdjian and Sukh Pannu The commercial real estate landscape constantly evolves, offering various investment opportunities across asset classes. By exploring each asset class’s unique strengths and considerations, we aim to provide a comprehensive guide for investors seeking to capitalize on the dynamic nature of the real estate market in today’s...
Retail Trends in Metro Vancouver with Mark Kurkdjian and Sukh Pannu Key Findings The retail market in Metro Vancouver saw 25 transactions in the first quarter of 2023, with a total volume of $100,525,600. User purchases accounted for $40.5 million in volume, while private investors accounted for $60.1 million. The average price per transaction was $4,021,024, ranging from $1,005,000 to...
EXCLUSIVE: NAI Business Series with Alf Sanderson*, VP Business Advisory How much is my business worth? What is it worth? Before you approach potential buyers or investors, you need to have an idea of the value of your business. Prospective buyers will also assess its value when they consider your proposal. Buyers and sellers will usually have a different perspective of value. The first step in...