GREATER VANCOUVER OFFICES SALES REPORT Q2 - 2021

GREATER VANCOUVER OFFICES SALES REPORTKLEIN GROUPQ2 - 2021

Incisive Intelligence. Excellence In Execution. www.kleingroup.com/real-estate-market-reports

Pric

e/SF SF

TABLE OF CONTENTS

Sources: Real Estate Board of Greater Vancouver, Commercial Edge; Canadian Real Estate Association, MLS®; Altus Group; Statistics Canada; Landcor; RealNet.

Disclaimer: Data has been obtained from sources considered to be reliable as of June 31, 2021. However, no representation or warranty, expressed or implied, is made as to the accuracy of any of the information, projections or conclusions contained herein, and the same is submitted subject to errors and omissions,without any obligation to update or correct.

Greater Vancouver Overview 3Burnaby 4Coquitlam 5New Westminster 6North Vancouver 7Port Coquitlam 8Richmond 9Vancouver 10West Vancouver 11About Klein Group 12Brookfield 13

2Greater Vancouver Offices Market Report - Q2-2021 Royal LePage Sussex Klein Group © 2021

OFFICE SALES - Q2-2021

Mill

ions

Transactions

GREATER VANCOUVER OVERVIEWOFFICE SALES

DOLLAR VOLUME & NUMBER OF TRANSACTIONS

0

10

20

30

40

50

60

70

80

90

100

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2

2017 2018 2019 2020 2021

$ Volume Transactions

OFFICE MARKET SHARE

6% 3%3%

3%

85%

Burnaby

NewWestminster

NorthVancouver

Richmond

Vancouver

2019 2020 2021 Q1 - Q2

Sales $ Volume % Sales $ Volume % Sales $ Volume %

Burnaby 27 $217,867,080 9% 20 $93,127,018 24% 5 $11,175,000 5%

Coquitlam 5 $19,926,000 1% 0 $0 0% 1 $1,250,000 1%

New Westminster 5 $47,363,000 2% 5 $7,300,000 2% 1 $6,750,000 3%

North Vancouver 13 $14,250,000 1% 10 $29,128,000 8% 5 $6,028,750 3%

Port Coquitlam 3 $2,013,000 0% 5 $5,272,400 1% 2 $1,301,870 1%

Richmond 75 $340,680,359 15% 66 $93,291,581 25% 12 $6,817,900 3%

Vancouver 63 $1,669,145,009 72% 37 $141,041,416 37% 30 $176,116,191 84%

West Vancouver 1 $1,482,000 0% 4 $11,600,000 3% 1 $860,000 0%

Grand Total 192 $2,312,726,448 147 $380,760,414 57 $210,299,711



Mill

ions

Transactions Pric

e/SF SF

BURNABY

SALES & PRICE BY NEIGHBOURHOOD


0

2

4

6

8

10

12

$0

$50

$100

$150

$200

$250

$300

$350

$400

$450


2017 2018 2019 2020 2021

Dollar Volume Number of Sales

QUARTERLY TOTAL VOLUME (SF)

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

$0

$200

$400

$600

$800

$1,000

$1,200


2017 2018 2019 2020 2021

Total Size (SF) Price/SF (Average) Price/SF (Lowest) Price/SF (Highest)

Transaction Name Price Size (SF) Price/SF Date

Bridge Business Centre $2,150,000 2,819 $763

Silver $1,980,000 1,759 $1,126



Mill

ions

Transactions Pric

e/SF SF

COQUITLAM



0

0.5

1

1.5

2

2.5

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

$20

Qtr1 Qtr3 Qtr4 Qtr2 Qtr1 Qtr2 Qtr3 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2

2017 2018 2019 2020 2021



0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

Qtr1 Qtr3 Qtr4 Qtr2 Qtr1 Qtr2 Qtr3 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2

2017 2018 2019 2020 2021



No Transactions in Q2 2021



Mill

ions

Transactions Pric

e/SF SF

NEW WESTMINSTER



0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

$0

$5

$10

$15

$20

$25

$30

$35

Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr3 Qtr4 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2

2017 2018 2019 2020 2021



0

20,000

40,000

60,000

80,000

100,000

120,000

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900


2017 2018 2019 2020 2021



No Transactions in Q2 2021



Mill

ions

Transactions Pric

e/SF SF

NORTH VANCOUVER



0

2

4

6

8

10

12

14

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18


2017 2018 2019 2020 2021



0

5,000

10,000

15,000

20,000

25,000

30,000

$0

$200

$400

$600

$800

$1,000

$1,200


2017 2018 2019 2020 2021



Harbourside Corporate Estates $3,223,750 4,789 $1,361

Creekside Corporate Centre $500,000 620 $806



Mill

ions

Transactions Pric

e/SF SF

PORT COQUITLAM



0

0.5

1

1.5

2

2.5

$0

$1

$1

$2

$2

$3

$3

Qtr1 Qtr4 Qtr1 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2

2017 2019 2020 2021



0

1,000

2,000

3,000

4,000

5,000

6,000

$0

$100

$200

$300

$400

$500

$600

$700

Qtr1 Qtr4 Qtr1 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2

2017 2019 2020 2021



Riverwood Business Park $1,301,870 3,415 $762 4/21/2021



Mill

ions

Transactions Pric

e/SF SF

RICHMOND



0

10

20

30

40

50

60

$0

$50

$100

$150

$200

$250


2017 2018 2019 2020 2021



0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400


2017 2018 2019 2020 2021

Total Size (SF) Price/SF (Average) Price/SF (Lowest) Max of Price Per Sqft


River Park Place 2 $980,000 1,213 $808

Shell Corporate Centre $676,900 1,209 $560

Fraserwood Corporate Centre $600,000 1,932 $311

Bridgeport Place $585,000 1,207 $485



Mill

ions

Transactions Pric

e/SF SF

VANCOUVER



0

5

10

15

20

25

30

35

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2

2018 2019 2020 2021



0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

1,600,000

1,800,000

$0

$500

$1,000

$1,500

$2,000

$2,500

Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2

2018 2019 2020 2021



815 Hornby Street $93,000,000 75,000 $1,240

1672 West 1st Avenue $8,650,000 8,042 $1,076

Yaletown Brickworks Building $4,494,000 3,625 $2,425

The Work Spaces at Strathcona Village

$3,400,000 5,185 $656



Mill

ions

Transactions Pric

e/SF SF

WEST VANCOUVER



0

0.5

1

1.5

2

2.5

3

3.5

$0

$1

$2

$3

$4

$5

$6

$7


2017 2018 2019 2020 2021

Dollar Volume Number of Transactions


0

2,000

4,000

6,000

8,000

10,000

12,000

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600


2017 2018 2019 2020 2021

Sum of Size Sqft Average of Price Per Sqft Min of Price Per Sqft Max of Price Per Sqft


Dundarave Terrace Medical & Professional Centre

$860,000 897 $959


ABOUT KLEIN GROUP

Klein Group Royal LePage’s customized, client-first approach.We offer a fully-integrated spectrum of services throughout the acquisition, ownership, and disposition phases. Trust, integrity and and two decades of proven results are our hallmark.

We provide complete disposition management services to ensure that you get top market value for your property. Our services include: •

• • •

•

•

•

In-depth financial analysis to determine whether disposition is the most viable option Detailed analysis of property pros and consDefining the buyer profile and target marketDeveloping an integrated marketing plan and custom marketing materialsMarketing the property through a full scope of media resources Handling all phases of negotiation and monitoring buyer contract conformanceFinalizing the transaction and confirming the transfer of funds

DISPOSITIONWe help with all complex decisions associated with holding the property ‘as is’; financing or refinancing; making discretionary capital expenditures; changing the property’s use; or selling part of the property. We provide:

•

•

• • •

•

Ongoing Asset Performance Analysis, Investment Planning and Road MappingStrategic Asset Management, Optimization and Market RepositioningDisposition vs. Hold AnalysisRecapitalization ManagementNew Development and Renewal Strategy using demographic, psychographic, rent-to-revenue, spending gap, and other analysesCorporate Social Responsibility Planning

OWNERSHIPWe help determine the right price in terms of: Expected Return, Taxation and Financing. Analysis & StrategyWe develop an acquisition profile based on your investment objectives, income goals, projected property performance and risk profile using: Competitive Analysis; Location and Site Analysis; Political and Legal Analysis; Financial Analysis. Valuation & AdvisoryWe combine market intelligence, multiple valuation approaches and a wealth of professional contacts to determine market feasibility, demand analysis, highest-and-best use analysis, leasing potential, development strategies and more.

ACQUISITION

BROOKFIELD

$239BNORTH AMERICA

$42BSOUTH AMERICA

$71BEUROPE

& MIDDLE EAST

$36BASIA PACIFIC

Brookfield Asset Management (NYSE: BAM), the parent company of Royal LePage Commercial and Royal LePage Residential Services, is a leading global asset manager, focused on investing in long-life, high quality assets across real estate, infrastructure, renewable power and private equity.

450MSF OF COMMERCIAL SPACE

30+COUNTRIES WORLDWIDE

80,000+OPERATING EMPLOYEES

750+INVESTMENTPROFESSIONALS

120YEARS INVESTING IN REAL ASSETS

$385BUNDER MANAGEMENT GLOBALLY

View our listings and more at www.kleingroup.com

WE’RE THE WORLD’S #1 REAL ESTATECOMPANY*, WITH LOCAL EXPERTISE

Forbes Magazine, 2018, 2019

Copyright © 2021 - Royal LePage Sussex Klein Group | 400 - 22 East 5th Avenue | Vancouver BC Canada | V5T 1G8

O 604 684 8844 | F 1 866 352 9311 | TF 1 855 684 8844 | www.kleingroup.com

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GREATER VANCOUVER OFFICES SALES REPORT Q2 - 2021