commercialedge sales stats 1 - lower mainland - 2015 q4 sales stats 01 - lower... · commercial...
TRANSCRIPT
News Release FOR IMMEDIATE RELEASE:
Lower Mainland commercial real estate sales reach five-year record of $8 billion in 2015 Vancouver, B.C. – March 11, 2016 – A strong fourth quarter closed 2015 as a record-breaking year in commercial real estate sales in the Lower Mainland.
There were a total of 2,307 commercial real estate sales in the Lower Mainland in 2015. This is a 16.2 per cent increase over the 1,985 sales in 2014, which was the previous five-year record holder.
Commercial real estate sales in 2015 were 15.3 per cent above the region’s five-year sales average.
The total dollar value of commercial real estate sales in the Lower Mainland was $8.389 billion in 2015, nearly 33.7 per cent above the $6.273 billion total in 2014.
“Last year was an extremely strong year for commercial real estate sales, led by growth in both office and retail space, and multi-family properties,” said Darcy McLeod, REBGV president. “Overall, these numbers reflect B.C.’s solid economy and our own residential real estate market’s growth.”
2015 activity by category
Land: There were 819 commercial land sales in 2015, which is a 26 per cent increase from the 650 land sales in 2014. The dollar value of last year’s land sales was $3.825 billion, a 21.8 per cent increase over 2014’s $3.139 billion.
Office and Retail: There were 807 office and retail sales in the Lower Mainland in 2015, which is up 6.6 per cent from the 757 sales in 2014. The dollar value of last year’s office and retail sales was $2.364 billion, a 40.9 per cent increase over 2014’s $1.678 billion.
Industrial: There were 545 industrial land sales in the Lower Mainland in 2015, which is up 15.7 per cent over the 471 sales in 2014. The dollar value of last year’s industrial sales was $988 million, a 20 per cent increase over 2014’s $823 million.
Multi-Family: There were 136 multi-family land sales in the Lower Mainland in 2015, which is up 27.1 per cent over the 107 sales in 2014. The dollar value of last year’s multi-family sales was $1.210 billion, a 91.6 per cent increase over 2014’s $631 million.
Owned and operated by the Real Estate Board of Greater Vancouver (REBGV), the Commercial EDGE system includes all commercial real estate transactions in the Lower Mainland region of BC, with the exception of Chilliwack, that have been registered with the Land Title and Survey Authority of British Columbia. Commercial EDGE is updated monthly based on data originating from the BC Assessment Authority. Commercial EDGE does not include share sale transactions as they are not registered with the Land Title and Survey Authority of British Columbia. Please note that historical data may be subject to revision as transaction records are received from the Land Title and Survey Authority of British Columbia.
The REBGV is an association representing over 12,500 residential and commercial REALTORS® and their companies. It provides a variety of member services, including the Multiple Listing Service® and the Commercial Edge service. For more information on real estate, statistics, and buying or selling a property, contact a local REALTOR® or visit www.rebgv.org.
For more information, please contact:
Craig Munn
Manager, Communication Real Estate Board of Greater Vancouver 604.730.3146 [email protected]
Category definitions:
Office and Retail properties are defined by the zoning according to each municipality and must have a building on the site. This category includes: Office, office condo, retail, retail condo, shopping centre, gas station, car dealerships, banks, community centres, day care, educational facility, institutional, golf courses, movie theatre, hotel, churches, restaurants, truck stops and others.
Industrial properties are also 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 properties 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.
Vacant Land includes properties that are holding properties, farmland, garden centres, redevelopment sites, land assembly sites, vineyards, etc.
Abbotsford
Burnaby
Coquitlam
Delta
Langley
Maple Ridge
Mission
New Westminster
North Vancouver
Pitt Meadows
Port Coquitlam
Port Moody
Richmond
Surrey
Vancouver
West Vancouver
White Rock
TOTALS by Category
GRAND TOTALS
Offic
e &
Reta
il6
12
13
39
21
21
40
30
24
22
62
11
65
Ind
ustr
ial
71
72
21
29
30
23
05
22
44
71
20
14
7
Mu
lti-F
am
ily0
90
00
00
04
20
00
01
11
02
7
Lan
d1
11
31
95
24
70
11
21
52
17
78
37
12
24
Offic
e &
Reta
il$
12
,72
0,0
42
$2
15
,17
1,0
00
$1
0,0
00
,00
0$
49
,05
7,0
00
$6
,82
8,5
00
$3
0,5
65
,62
5$
5,0
50
,00
0$
34
0,0
00
$3
,82
0,0
00
$1
1,9
04
,62
5n
/a$
6,6
86
,81
3n
/a$
22
,78
9,7
45
$1
5,2
39
,21
6$
26
8,7
08
,16
7$
37
5,0
00
$6
59
,25
5,7
33
Ind
ustr
ial
$5
,65
4,0
00
$3
7,8
10
,00
0$
1,4
40
,00
0$
74
6,2
50
$1
6,0
06
,76
5$
30
,23
2,5
00
$2
,63
5,0
00
n/a
$6
55
,00
0$
5,5
47
,50
0n
/a$
4,8
85
,00
0$
3,4
10
,00
0$
38
,11
7,7
81
$4
7,1
96
,74
8$
26
,53
7,5
00
n/a
$2
20
,87
4,0
44
Mu
lti-F
am
ilyn
/a$
25
1,6
83
,00
0n
/an
/an
/an
/an
/an
/a$
40
,30
5,0
00
$1
7,5
00
,00
0n
/an
/an
/an
/a$
2,4
25
,00
0$
50
,53
8,0
00
n/a
$3
62
,45
1,0
00
Lan
d$
22
,57
6,6
50
$5
0,4
90
,80
0$
2,0
94
,00
0$
28
,46
5,0
00
$4
8,6
50
,00
0$
71
,62
4,7
25
$1
4,9
34
,89
2n
/a$
60
0,0
00
$1
12
,26
5,0
00
$6
70
,00
0$
34
,25
0,0
00
$6
,58
5,0
27
$1
00
,40
3,9
00
$3
11
,84
3,1
36
$2
97
,57
1,0
90
$2
,66
0,0
00
$1
,10
5,6
84
,22
0
Offic
e &
Reta
il1
01
40
22
84
54
18
21
13
34
57
10
22
0
Ind
ustr
ial
57
05
95
31
27
06
12
74
31
00
13
1
Mu
lti-F
am
ily1
50
11
30
11
23
00
13
01
50
46
Lan
d6
90
46
18
81
45
03
11
67
84
50
20
4
Offic
e &
Reta
il$
11
,02
7,3
55
$1
6,8
03
,10
0n
/a$
2,3
81
,00
0$
76
0,0
00
$9
,05
9,0
10
$5
9,9
55
,99
1$
5,0
21
,13
0$
3,8
95
,00
0$
17
,59
0,8
96
$4
,12
5,0
00
$8
10
,00
0$
77
0,0
00
$5
2,4
71
,10
0$
24
2,2
73
,06
0$
32
1,4
80
,05
7n
/a$
74
8,4
22
,69
9
Ind
ustr
ial
$1
,11
7,5
00
$1
3,2
44
,50
0n
/a$
29
,77
2,0
00
$2
6,8
99
,94
9$
12
,14
5,0
00
$2
,25
0,0
00
$2
40
,00
0$
65
5,0
00
$7
,39
0,0
00
n/a
$5
,48
8,1
31
$1
,71
0,0
00
$1
06
,41
7,1
38
$5
5,1
46
,31
9$
22
,58
3,6
50
n/a
$2
85
,05
9,1
87
Mu
lti-F
am
ily$
6,3
00
,00
0$
2,3
68
,00
0n
/an
/a$
4,6
50
,00
0$
20
,63
5,0
00
n/a
$3
,80
0,0
00
$2
9,6
51
,00
0$
18
5,5
50
,00
0n
/an
/an
/a$
39
,90
3,0
00
n/a
$1
39
,10
1,0
00
n/a
$4
31
,95
8,0
00
Lan
d$
7,6
23
,33
3$
58
,13
0,6
38
n/a
$8
,58
6,8
00
$9
,68
5,0
00
$3
6,1
17
,00
0$
13
,28
1,5
13
$8
15
,00
0$
20
,79
8,5
00
$4
2,4
70
,00
0n
/a$
5,7
19
,50
0$
2,8
85
,00
0$
20
0,5
75
,49
8$
19
3,6
68
,70
4$
28
6,2
70
,00
0n
/a$
88
6,6
26
,48
6
Offic
e &
Reta
il8
70
32
10
13
48
13
03
42
41
08
12
17
Ind
ustr
ial
77
05
69
52
13
01
21
24
34
80
12
4
Mu
lti-F
am
ily1
10
01
00
01
20
00
02
18
02
6
Lan
d4
60
31
14
63
28
21
22
24
94
41
16
8
Offic
e &
Reta
il$
6,8
06
,40
0$
6,4
68
,00
0n
/a$
2,1
95
,00
0$
62
5,0
00
$8
,72
5,4
41
$4
,36
5,0
00
$4
,20
0,9
70
$4
2,8
11
,80
0$
11
,98
7,5
00
$8
4,0
00
$2
,73
3,8
00
n/a
$3
8,0
99
,73
8$
17
,12
4,6
78
$2
81
,30
0,3
10
$5
25
,00
0$
42
8,0
52
,63
7
Ind
ustr
ial
$2
1,4
02
,74
5$
38
,97
9,0
00
n/a
$1
2,4
95
,00
0$
10
,15
7,0
00
$3
7,3
88
,00
0$
2,6
26
,50
0$
54
7,9
00
$4
70
,00
0$
20
,83
5,0
00
n/a
$8
,38
8,4
54
$1
,70
0,0
00
$5
7,6
73
,53
5$
26
,92
1,5
60
$3
2,1
50
,88
0n
/a$
27
1,7
35
,57
4
Mu
lti-F
am
ily$
7,5
00
,00
0$
3,6
00
,00
0n
/an
/a$
3,2
87
,50
0n
/an
/an
/a$
6,0
00
,00
0$
17
,82
6,0
00
n/a
n/a
n/a
n/a
$2
4,4
50
,00
0$
81
,22
1,0
00
n/a
$1
43
,88
4,5
00
Vacan
t L
an
d$
15
,65
0,8
70
$2
3,3
70
,75
0n
/a$
41
,70
5,8
60
$2
,20
0,0
00
$5
5,0
33
,50
0$
9,0
75
,00
0$
6,1
95
,50
0$
2,6
50
,00
0$
48
,69
7,8
20
$2
,54
4,0
00
$5
,04
3,0
00
$2
,81
8,2
00
$2
05
,83
7,3
00
$1
60
,76
8,3
55
$6
11
,32
6,5
10
$1
1,0
00
,00
0$
1,2
03
,91
6,6
65
Offic
e &
Reta
il3
26
21
41
53
91
19
18
59
49
61
13
14
52
58
31
08
07
Ind
ustr
ial
23
43
20
36
28
18
86
21
03
25
10
31
61
41
00
54
5
Mu
lti-F
am
ily2
19
33
51
12
18
01
23
26
20
31
36
Lan
d2
75
02
91
97
72
96
15
27
11
17
72
26
91
71
36
81
9
Offic
e &
Reta
il$
39
,82
7,3
56
$3
06
,47
3,2
55
$7
0,6
13
,09
1$
24
,75
6,5
00
$1
08
,97
5,4
63
$6
9,2
93
,99
1$
7,1
71
,13
0$
18
,84
0,5
40
$5
6,6
30
,04
3$
7,0
93
,00
0$
14
,44
7,8
13
$7
,67
9,9
00
$1
13
,24
3,3
93
$3
54
,67
1,8
44
$1
,14
2,9
18
,29
0$
8,5
25
,00
0$
13
,82
5,5
00
$2
,36
4,9
86
,10
9
Ind
ustr
ial
$1
9,4
11
,70
0$
79
,23
0,5
00
$5
5,3
50
,70
0$
93
,27
9,4
03
$1
25
,68
3,6
65
$1
2,5
65
,51
9$
2,0
53
,00
0$
2,8
38
,60
0$
29
,29
1,3
00
n/a
$5
0,6
88
,60
9$
9,4
08
,00
0$
26
1,6
81
,80
8$
17
0,4
93
,45
2$
76
,50
7,5
50
n/a
n/a
$9
88
,48
3,8
06
Mu
lti-F
am
ily$
7,3
87
,50
0$
28
0,6
09
,00
0$
12
,45
0,0
00
$1
1,8
15
,00
0$
32
,46
7,1
14
$2
,25
0,0
00
$3
,80
0,0
00
$8
3,6
52
,00
0$
21
1,9
15
,00
0n
/a$
1,2
00
,00
0$
3,3
65
,00
0$
39
,90
3,0
00
$3
6,0
75
,00
0$
47
0,0
39
,50
1n
/a$
13
,72
0,0
00
$1
,21
0,6
48
,11
5
Lan
d$
51
,95
9,6
83
$3
86
,67
3,5
04
$1
03
,84
2,1
00
$1
00
,63
7,5
21
$1
97
,84
0,9
25
$4
6,7
97
,98
0$
8,5
45
,00
0$
46
,47
5,1
50
$1
86
,17
4,5
23
$6
70
,00
0$
45
,37
4,5
00
$3
2,5
54
,92
7$
49
8,0
64
,56
0$
81
5,7
25
,53
6$
1,2
27
,83
3,1
10
$2
5,2
36
,79
6$
50
,67
3,1
00
$3
,82
5,0
78
,91
5
Offic
e &
Reta
il1
95
01
59
23
10
52
14
77
93
11
01
25
28
68
10
75
7
Ind
ustr
ial
32
36
25
26
23
11
54
19
03
12
92
10
75
80
04
71
Mu
lti-F
am
ily4
71
12
10
81
00
10
04
63
14
10
7
Lan
d1
94
12
61
36
23
06
11
18
41
11
17
11
96
12
64
16
50
Offic
e &
Reta
il$
17
,11
0,1
50
$1
67
,85
7,2
17
$3
5,8
07
,00
0$
42
,93
4,0
00
$3
0,5
89
,44
1$
14
,15
2,5
00
$1
3,3
71
,64
8$
87
,87
1,9
90
$1
01
,95
5,9
15
$1
,21
1,0
00
$6
,86
1,8
00
$2
,61
0,0
00
$1
34
,41
6,0
93
$1
43
,58
2,6
18
$8
47
,60
8,6
04
$2
1,9
82
,50
0$
8,9
71
,75
0$
1,6
78
,89
4,2
26
Ind
ustr
ial
$3
4,2
96
,98
1$
15
9,6
86
,30
0$
50
,79
7,0
00
$4
0,6
04
,88
4$
51
,93
5,5
25
$1
3,3
53
,50
0$
1,4
99
,90
0$
9,3
45
,00
0$
45
,54
5,2
87
n/a
$3
9,3
22
,30
6$
3,6
00
,00
0$
13
7,9
53
,87
5$
95
,05
0,6
92
$1
40
,46
2,7
68
n/a
n/a
$8
23
,45
4,0
18
Mu
lti-F
am
ily$
24
,65
0,0
00
$7
7,2
00
,00
0$
5,8
00
,00
0$
3,2
87
,50
0$
12
,54
7,0
00
$4
,91
0,0
00
n/a
$2
3,7
06
,46
5$
79
,85
3,5
00
n/a
$7
20
,00
0n
/an
/a$
91
,83
0,0
64
$2
83
,47
3,7
00
$8
,92
5,0
00
$1
4,9
21
,00
0$
63
1,8
24
,22
9
Lan
d$
43
,88
6,9
50
$2
43
,17
7,9
66
$1
62
,36
3,2
48
$3
6,0
43
,51
0$
17
6,6
88
,02
8$
60
,63
5,5
00
$7
,70
5,5
00
$2
1,1
30
,00
0$
10
3,4
55
,82
0$
9,8
94
,00
0$
30
,91
4,6
35
$2
0,1
20
,50
4$
49
9,6
96
,37
4$
58
3,6
89
,30
3$
1,1
13
,57
0,2
58
$2
5,3
79
,50
0$
1,0
00
,00
0$
3,1
39
,35
1,0
96
No
te:
Qu
arte
rly
per
iod
s d
efin
ed a
s fo
llow
s: Q
1 =
[Ja
n-M
ar],
Q2
= [A
pr-
Jun
], Q
3 =
[Ju
l-Se
p],
Q4
= [O
ct-D
ec]
LO
WE
R M
AIN
LA
ND
CO
MM
ER
CIA
L S
ale
s A
cti
vit
y b
y A
rea
20
15
Fo
urt
h
Qu
art
er
2015
Q4
Un
its
So
ld5
63
Do
lla
r
Va
lue
$2,348,264,997
2015
Q3
Un
its
So
ld6
01
Do
lla
r
Va
lue
$2,352,066,372
2014
Q4
Un
its
So
ld5
35
Do
lla
r
Va
lue
$2,047,589,376
2014 Y
TD
Q1-Q
4
Un
its
So
ld1
98
5
Do
lla
r
Va
lue
$6,273,523,569
2015 Y
TD
Q1-Q
4
Un
its
So
ld2
30
7
Do
lla
r
Va
lue
$8,389,196,945
©
20
15
Real E
sta
te B
oard
of G
reate
r V
an
cou
ver
© 2015 Real Estate Board of Greater Vancouver
2011 2012 2013 2014 2015
Total Units Sold 1943 1953 1834 1985 2313
Total Dollar Value Sold $4,670,293,935 $5,678,053,146 $5,756,540,011 $6,273,523,569 $8,422,930,945
$0
$1
$2
$3
$4
$5
$6
$7
$8
$9
$10
0
500
1000
1500
2000
2500
Do
llar
Val
ue
So
ld (
in $
bill
ion
s)
Tota
l Un
its
Sold
LOWER MAINLAND Total Commercial Sales Activity by Year
Total Units Sold Total Dollar Value Sold
Note: Year 2015 Units Sold and Dollar Values are year-to-date totals up to end of Q4
© 2015 Real Estate Board of Greater Vancouver
0
50
100
150
200
250
300
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2011 2012 2013 2014 2015
Un
its
Sold
LOWER MAINLAND
Commercial Sales by Category - Quarterly
Office & Retail Industrial Multi-Family Land
© 2015 Real Estate Board of Greater Vancouver
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2011 2012 2013 2014 2015
Total Units Sold 439 509 498 497 487 542 479 445 388 470 487 489 465 510 472 538 525 612 607 569
0
100
200
300
400
500
600
700
Un
its
Sold
LOWER MAINLAND
Total Commercial Sales - Quarterly
© 2015 Real Estate Board of Greater Vancouver
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2011 2012 2013 2014 2015
Do
llar
Val
ue
(in
$m
illio
ns)
LOWER MAINLAND Commercial Dollar Value Sold by Category - Quarterly
Office & Retail Industrial Multi-Family Land
© 2015 Real Estate Board of Greater Vancouver
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2011 2012 2013 2014 2015
Total Dollar Voume $1,039,2 $1,147,9 $1,119,9 $1,363,1 $1,509,8 $1,776,1 $1,249,1 $1,142,8 $984,872 $1,329,5 $1,764,8 $1,677,3 $1,460,3 $1,346,9 $1,412,1 $2,054,1 $1,633,0 $2,031,3 $2,385,0 $2,373,4
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
Do
llar
Val
ue
(in
$m
illio
ns)
LOWER MAINLAND
Total Commercial Dollar Value Sold - Quarterly
Price Range Office & Retail Industrial Multi-Family LandTotals by Price
RangeUnder $1,000,000 91 86 0 22 199
$1,000,000 - $1,999,999 30 25 2 69 126
$2,000,000 - $2,999,999 14 16 6 40 76
$3,000,000 - $3,999,999 6 11 3 13 33
$4,000,000 - $4,999,999 5 3 1 12 21
$5,000,000 - $5,999,999 4 1 1 18 24
$6,000,000 - $6,999,999 2 0 2 7 11
$7,000,000 - $7,999,999 1 1 2 10 14
$8,000,000 - $8,999,999 1 0 0 2 3
$9,000,000 - $9,999,999 1 0 0 4 5
$10,000,000 - $10,999,999 2 2 3 6 13
$11,000,000 - $11,999,999 1 1 1 4 7
$12,000,000 - $12,999,999 0 1 1 2 4
$13,000,000 - $13,999,999 1 0 2 1 4
$14,000,000 - $14,999,999 1 0 0 1 2
$15,000,000 - $15,999,999 0 0 0 3 3
$16,000,000 - $16,999,999 0 0 0 2 2
$17,000,000 - $17,999,999 0 0 0 0 0
$18,000,000 - $18,999,999 0 0 0 1 1
$19,000,000 - $19,999,999 0 0 0 2 2
$20,000,000 - $20,999,999 0 0 0 1 1
$21,000,000 - $21,999,999 0 0 0 1 1
$22,000,000 - $22,999,999 0 0 0 0 0
$23,000,000 - $23,999,999 2 0 0 0 2
$24,000,000 - $24,999,999 0 0 0 2 2
$25,000,000 - $25,999,999 1 0 0 0 1
$26,000,000 - $26,999,999 0 0 0 0 0
$27,000,000 - $27,999,999 0 0 1 0 1
$28,000,000 - $28,999,999 0 0 1 1 2
$29,000,000 - $29,999,999 0 0 0 1 1
At & Over $30,000,000 4 0 1 3 8
Totals by Category 167 147 27 228 569
LOWER MAINLAND Total Commercial Sales
Price Range and Category
2015 Q4
© 2015 Real Estate Board of Greater Vancouver