FOR LEASE - 161 East Pender Street || Main Floor Retail / Office Space
The main floor collides modern design with subtle cultural elements to bring together this beautiful space. This unit is exposed to high vehicle and pedestrian traffic and has prominent signage opportunities. The subject property boasts a unique layout with character storefront, exposed cement bricks, 16ft ceilings, polished concrete floors and a brand new HVAC system.

The unit also includes an enclosed board room, storage room, kitchenette, and two individual washrooms. The space can also be accessed through a grade level loading door at the rear of the space.

Main Floor - 2,598 SF Base Rent: $25.00/SF per annum
Additional Operating Costs: $10.00/SF per annum

Contact Amalia Liapis at 604-618-7000 or Kane Ryan at 778-223-5961 for additional information.

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The British Columbia Real Estate Association (BCREA) saw a 23.9% decrease in residential unit sales in comparison from April 2016 to April 2017 (9,865 units recorded by MLS®). Comparing to the same period last year, total sales dollar volume was $7.19 Billion which is a 25.4% decrease and the average MLS® residential price in BC has seen a 2% bringing it down to $728,955.

“BC home sales are on an upward trend this spring, led by a sharp increase in consumer demand in the Lower Mainland,” said Cameron Muir, BCREA Chief Economist.  

Home inventories are at a 20-year low. Currently, the seasonally adjusted annual rate (SAAR) of home sales has seen a significant increase in relation to the five-year SAAR for April. (89,000 to 106,000 units). SAAR is a rate adjustment that attempts to remove seasonal variations in the data.

There was a 17% decrease in the supply of homes available for sale in comparison to April 2016 figures. Adjusted for seasonal variations, active residential listings have seen a 50% decline since 2012 and are now at their lowest level in over 20 years. Due to the imbalance between supply and demand, demand is driving home prices higher in most regions.

Year-to-date, BC residential sales dollar volume was down 31.8 per cent to $21.3 billion, when compared with the same period in 2016. Residential unit sales declined 25.0 per cent to 30,757 units, while the average MLS® residential price was down 9.2 per cent to $692,220.

Source: British Columbia Real Estate Association (BCREA)

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