The BCREA Commercial Leading Indicator (CLI) has decreased to 134.3 in 2019 Q4 for the second straight month. Looking back at the same time last year, the CLI has increased by 0.3%. The provincial economic activity slowed down which can be attributed to a slow down in the wholesale trade (2.0% decrease) and manufacturing sales (0.6% decease) despite retail sales seeing an increase of 0.8%

The economic activity component of the CLI has been negative for the sixth consecutive quarter. The economic activity component follows the overall trend in the BC economy and reflects changes in economic variables shown to lead commercial real estate activity.

The employment component of the CLI has also seen a negative change due to a decline in manufacturing employment despite office employment increasing. The employment component reflects changes in the commercial real estate environment due to changes in the overall business cycle.

The financial component of the CLI has also seen a negative change despite seeing three consecutive quarters of positive performance. The financial component acts as an early warning indicator from financial markets that could signal turning points in the commercial real estate market.

The underlying trend in the CLI has been relatively flat over the past six quarters, suggesting a continued stable environment for commercial real estate activity in the province. 

The slowdown in BC's economy can be attributed to weak manufacturing sales in durable goods and lower wholesale trade sales in motor vehicles and machinery and equipment. On the contrary, retail sales were positive after two consecutive quarters of negative growth. However, retail sales saw the lowest growth rate since the 2009 financial crisis.

There has been an increase of 1,600 jobs in the fourth quarter in 2019 for key commercial real estate sectors which include finance, insurance, real estate and leasing. On the other hand, there has been a decrease of 6,700 jobs in the manufacturing sector last quarter.

Source: British Columbia Real Estate Association (BCREA)

We've got a streetfront retail space available in a highly desirable area in the heart of Chinatown which has seen an influx of new developments. Vancouver\'s Chinatown is universally appealing to tourists and locals alike with its rich culture, striking heritage buildings and world-renowned delicacies. This location is in walking distance to Gastown, Strathcona and the Downtown Core and is in close proximity to transit hubs.

The subject property boasts a unique layout with character storefront, exposed cement bricks, 16ft ceilings and polished concrete floors. This newly and extensively renovated unit is exposed to high vehicle and pedestrian traffic and has prominent signage opportunities which is perfect for a retailer, cafe, office or fitness studio! 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.

Contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca for additional information.

Listing: https://spacelist.ca/p/bc/vancouver/161_e_pender_st/main_floor 

The Commercial Leading Index (CLI) provides insight on early signals of turning points between expansions and slowdowns in commercial real estate. The BCREA CLI "forecasts changes in broad commercial real estate activity. [Their] research shows that the variables that compose the CLI reliably forecast BC commercial real estate activity at a lag of two to four quarters. The index is revised each quarter, due to revisions in the underlying data". 

For the fifth consecutive quarter, the CLI has seen another rise in index points of 0.5 from the 2016 Q4 to 2017 Q1. The index is now 128.0 which is a 4% increase from a year ago and a 0.4% increase on a quarterly basis. The economic activity and employment components of the CLI have been contributing factors to the economic and employment growth in the province and BC has been continually leading all provinces in this type of growth. There are indications of further growth in investment, leasing and other commercial real estate over the next two to four quarters as signaled by the CLI trend.

The increase in the CLI is reflective of the economic growth in BC with its real GDP growth exceeding 3%, which is the second time this has occurred in the past 37 years. This can be attributable to key commercial sectors such as retail and wholesale trade along with the increase in manufacturing sales. As for employment, 2016 ended on a high note with an increase of over 3% in employment which has trickled into 2017.

For all your commercial and residential real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca. 

Source: British Columbia Real Estate Association

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.

We're so excited to have LEASED a space for Joanna Keller Beautique, a beauty salon specializing in eyelash extensions, makeup application, hair styling and much more. We welcome you to the neighbourhood!

We still have the retail level and top floor available at the Silk Building. For all your commercial sales & leasing needs, contact us at amalia@wesellvancouver.ca or at 604-618-7000. We look forward to working with you in finding a space that perfectly suits your business needs!

We'll uncover some helpful tips that will help any entrepreneur in their real estate acquisition process. Acquiring real estate may be costly but a worthwhile long-term investment, provided that the business owner exercises their due diligence and executes a proper plan of action. A benefit of acquiring real property is that it will most likely appreciate in value. Unlike renting, you can deduct the cost of a depreciable property over its useful life as a yearly deduction for corporate taxes as a Capital Cost Allowance.

Tips for Success

1. Understand the local real estate market
Firstly, choosing the right location for your business is vital. Find a space that would adapt to your business needs and is in a prime location with demographics that fit your target market. Having an understanding of zoning and environmental regulations is another important success factor.

2.Seek advice from an independent commercial real estate agent
Luckily for you, you don't have to look any further. Our boutique firm is experienced in commercial real estate and we are always available to help you along with the purchasing process. 

3. Consult an accountant
Accountants can help you with the tax implications of the acquisition of real property. They can also advise on ways to minimize taxes and get the most out of your purchase.

4. Obtain approval for financing
In order to obtain approval, bankers / lenders will want to see financial statements, past and projected cash flows etc. You should shop around for the best financing package available that meets your needs. Note that while the interest rate is important, you should look into other factors as well. Such factors include repayment terms, fee structures, financing requirements etc.

5. Choose the right contractors and business professionals
It's important to have contractors and business professionals with experience, are highly reputable and are responsive to your needs. We can get you in contact with business professionals we have worked with in the past and who have a wealth of knowledge and experience. 

For all your real estate needs, contact Amalia Liapis at 604-618-7000 or at amalia@wesellvancouver.ca or Kane Ryan at 778-223-5961 or at kane@wesellvancouver.ca.

Contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca for showings or for additional details on the three properties listed above. 

Below you will find the commercial sales activity broken down by category for the Lower Mainland for Quarter 3 of 2016 and 2015 and the relevant percentage change. As well, there is a year-to-date comparison which encompasses the first three quarters. Quarter 4 statistics should be released in the next few weeks! The statistics for the Lower Mainland are inclusive of the following 18 cities: Abbotsford, Burnaby, Chilliwack, Coquitlam, Delta, Langley, Maple Ridge, Mission, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, Surrey, Vancouver, West Vancouver and White Rock. Thus, the first table is not representative of only Vancouver commercial real estate (a separate table will break down the statistics for Vancouver).

Below you will find information from the above table which has the Vancouver data extracted from it. While the Quarter 3 results year over year have primarily seen a decrease in both unit sales and sales dollars, the year-to-date figures show a different story. All four categories see an increase in sales dollars when comparing 2015 to 2016. 

In addition to residential real estate and property management, we also do commercial real estate here at WeSellVancouver. We'd love to help you with your next investment or business venture. Contact the WSV Real Estate Services office at 604-801-6654 or at info@wesellvancouver.ca for all your real estate needs.

NOW is the time to invest in the revitalization of Historic Chinatown. We've got four brand new glass and concrete units available at amazing prices. These raw shell spaces come with both a main floor and mezzanine and are well suited for business owners and investors alike. These units enable operators to build to best suit their business. This new development is ideally located just west of Main Street in the Hastings Crossing District, a unique area defined by its historic character and ethnic diversity. It is located in a central area that is in walking distance to Gastown, Strathcona, Crosstown, Railtown, Downtown and the Waterfront.

Contact either Amalia Liapis at 604.618.7000 or Kane Ryan at 778.223.5961 today for more details!

Want to be a part of the gentrification within Vancouver's evolving Chinatown? We only have 4 more brand new concrete and glass units available for sale. Contact us today for more details!

Investment in commercial real estate is a great way to enhance the value of your portfolio. Take a hold of this rare opportunity to OWN waterfront commercial space along Beach Avenue! Contact Kris Hall today at info@wesellvancouver.ca or alternatively at 604-716-6155 for additional information on this listing.

EDIT: As of January 14, 2016, the property has been SOLD! 

Christmas may be over but the season for giving isn't and we're feeling generous this year. We're giving you the wonderful opportunity to invest in a revitalization movement within Chinatown. Don't just be a spectator in this movement, actively participate in it. There are opportunities to invest in both commercial and residential units here at Sequel 138!

We only have 5 commercial units available at unbeatable prices. Want retail space with a downtown feel without the hefty price tag to match? Look no further. Sequel 138 is centrally located in the epicentre of Chinatown, Gastown, Railtown and Downtown Vancouver, making it convenient to access. This is an opportunity you do not want to miss out on. What better way to end off the year than with an investment that will add great value to your portfolio! 

For all your real estate needs, contact Amalia Liapis at amalia@wesellvancouver.ca or alternatively at 604-618-7000.

Looking for major developmental projects happening in the Lower Mainland? Look no further! The BC Major Projects Inventory (MPI) gives details on projects within BC with a capital cost value of $15M or $20M within the Lower Mainland area. Take a look below for a snapshot of some private and public sector construction projects.

For a more comprehensive look at the projects, click here. For all your real estate needs, contact us at info@wesellvancouver.ca or alternatively at 604-801-6654.

Our last blog took a look at 2014 statistics in the realm of commercial real estate. Today we'll be exploring statistics for 2015 thus far. As noted in our last blog, commercial land sales have driven sales activity for the first quarter. It has been an upward trend for the past four years in terms of dollar value in land sales.

“It was the most active first quarter we’ve seen in our commercial market over the last five years,” Darcy McLeod, REBGV president said. “This activity reflects the growth we’re seeing in related sectors within our economy such as retail and manufacturing.”

Below you will find a comparison chart of Quarter 1 commercial real estate activity by category for the years 2014 and 2015. As you can see, the number of sales has seen an increase from 2014 to 2015 whereas the dollar value for each respective category has increased in some categories and decreased in others.

Category Classifications

Land - Includes properties that are holding properties, farmland, garden centres, redevelopment sites, land assembly sites, vineyards, etc.

Office and Retail - These properties are defined by the zoning according to each municipality and must have a building on the site. This includes office, office condo, retail, retail condo, shopping centre, gas station, car dealerships, banks, community centres, daycares, educational facility, institutional, golf courses, movie threatre, hotel, churches, restaurants, truck stops, etc.

Industrial - These are defined by the zoning according to each municipality and must have a building on the site. This includes warehouses, warehouse bays and multi-bay warehouses.

Multi-Family - These include nursing homes, high rises, low rises and any condo or townhome properties containing four or more units with at least one zoned for commercial use.