Vancouver, B.C. – March 31, 2022 – Sales activity in the Lower Mainland’s commercial real estate market reached the second-highest annual total on record in 2021. 

There were 2,659 commercial real estate sales in the Lower Mainland in 2021, a 65.3 per cent increase from the 1,609 sales in 2020, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV). Last year’s sales total is the second highest on record behind 2016 when 2,848 sales were recorded. 

The total dollar value of commercial real estate sales in the Lower Mainland was $14.396 billion in 2021, a 66.7 per cent increase from $8.635 billion in 2020. 

"Like residential consumers, businesses and investors became more comfortable operating in the commercial market in the second year of the pandemic," Daniel John, REBGV Chair said. "We saw consistent increases among the different commercial property types both in sales volumes and dollar figures last year."

Vancouver, B.C. – January 24, 2022 – 

The increased activity seen in the Lower Mainland’s commercial real estate market in the first half of 2021 carried into the third quarter (Q3) of the year across all categories. 

There were 640 commercial real estate sales in the Lower Mainland in Q3 2021, a 64.1 per cent increase from the 390 sales in Q3 2020, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV). 

The total dollar value of commercial real estate sales in the Lower Mainland was $3.250 billion in Q3 2021, a 30.7 per cent increase from $2.487 billion in Q3 2020. 

"Commercial real estate activity recovered steadily in the first three quarters of 2021 against 2020 levels as consumer and business confidence returned from the initial uncertainty that the COVID-19 pandemic caused," Keith Stewart, REBGV economist said. “In particular, the strength of land acquisition activity points to new development interest across the region.”

There were 148 restaurant business ONLY sold in 2021 in Greater Vancouver area including 2 restaurant spaces For Lease. Price range $100,000-$200,000 has the most restaurant business sold, next in line was total 49 restaurant businesses sold under $100,000.

Vancouver - 62 SOLD

Surrey - 17 SOLD

Burnaby - 12 SOLD

Business Gross Sales: $3,266,650

Industrial/Commercial Gross Sales: $55,888,606

Land & Farms Gross Sales: $28,094,000

Multi-Family Gross Sales: $6,850,000

There were over 16 hotel | motel | lodges sold in 2021 so far with some of them were court sales due to COVID. We have seen increased demand on both big size franchise managed and small size family running Inn. 

With the difficulty of getting commercial mortgage on hotel property from Business Development Bank of Canada over the past one year, lucky buyers got their own way of taking over the new business.

Business loan or commercial mortgage partners, please feel free to reach out so we can help more buyers.

There were over 30 restaurants SOLD in Calgary alone in 2021. We can see lots of Chinese owners would rather to sell their businesses than running it during COVID. It was because of their personal concerns about COVID. 

Lost of restaurant owners contacted us for checking rental rate with potential negotiation with their landlords or looking for new locations with patio options. 

Our TOP 3 restaurant WANTED list is as follows:

a, Franchise Pizza store | Non-franchise pizza store

b, Japanese | Sushi restaurant

c, Full commercial kitchen for catering business

Restaurant owners are welcome for a FREE BUSINESS VALUATION!

Business Gross Sales: $1,906,338

Industrial/Commercial Gross Sales: $107,127,130

Land & Farms Gross Sales: $8,645,000

Multi-Family Gross Sales: $20,635,000

Vancouver, B.C. – Oct 29, 2021 – The increased activity seen in the Lower Mainland’s commercial real estate market in the beginning of 2021 carried into the second quarter (Q2) of the year.

There were 726 commercial real estate sales in the Lower Mainland in Q2 2021, a 114.8 per cent increase from the 338 sales in Q2 2020, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV). The total dollar value of commercial real estate sales in the Lower Mainland was $3.635 billion in Q2 2021, a 130.4 per cent increase from $1.578 billion in Q2 2020.

"Commercial real estate activity continued to strengthen in the second quarter of 2021, with sales reaching levels that we haven't seen in four years," Keith Stewart, REBGV economist said. “Land acquisition is particularly strong as investors are demonstrating confidence in new development potential in our region.”

Business Gross Sales: $3,813,850

Industrial/Commercial Gross Sales: $59,366,215

Land & Farms Gross Sales: $3,911,000

Multi-Family Gross Sales: $34,175,000

Q1 2021 activity by category

Land: There were 110 commercial land sales in Q1 2021, which is a 0.9 per cent decrease from the 111 land sales in Q1 2020. The dollar value of land sales was $684 million in Q1 2021, a 35 per cent decrease from $1.053 billion in Q1 2020.

Office and Retail: There were 229 office and retail sales in the Lower Mainland in Q1 2021, which is up 62.4 per cent from the 141 sales in Q1 2020. The dollar value of office and retail sales was $820 million in Q1 2021, a 136.1 per cent increase from $347 million in Q1 2020.

Industrial: There were 196 industrial land sales in the Lower Mainland in Q1 2021, which is a 58.1 per cent increase from the 124 sales in Q1 2020. The dollar value of industrial sales was $664 million in Q1 2021, a 78 per cent increase from $373 million in Q1 2020.

Multi-Family: There were 41 multi-family land sales in the Lower Mainland in Q1 2021, which is up 156.3 per cent from 16 sales in Q1 2020. The dollar value of multi-family sales was $487 million in Q1 2021, a 23.9 per cent decrease from $640 million in Q1 2020.

Business Gross Sales: $7,886,100

Industrial / Commercial Gross Sales: $45,550,389

Land & Farms Gross Sales: $9,120,000

Vancouver, B.C. – April 19, 2021 – Sales activity in the Lower Mainland’s commercial real estate market slowed in the first half of 2020 as the COVID-19 pandemic took hold and rebounded in the second half of the year.

There were 1,582 commercial real estate sales in the Lower Mainland in 2020, a 0.6 per cent decrease from 1,592 sales in 2019, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV). The total dollar value of commercial real estate sales in the Lower Mainland was $8.622 billion in 2020, a 21 per cent increase from $7.128 billion in 2019.

“Commercial real estate activity mirrored activity in our overall economy in 2020,” Taylor Biggar, REBGV Chair said. “The uncertainty brought on by the pandemic caused activity to slow in the first half of the year, but the market picked up in the latter half of 2020 as people and businesses established safety protocols and began assessing their real estate needs again.”

Business Gross Sales: $6,877,388

Industrial/ Commercial Gross Sales: $52,447,463

Land & Farms Gross Sales: $11,950,000

Multi-Family Gross Sales: $12,200,000

Vancouver, B.C. – January 22, 2021 – In a period where the COVID-19 pandemic constrained economic activity and caused businesses to limit in-person operations, the Lower Mainland’s commercial real estate market saw overall declines in demand.

There were 387 commercial real estate sales in the Lower Mainland in the third quarter (Q3) of 2020, an 8.9 per cent decrease over the 425 sales in Q3 2019, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).

The total dollar value of commercial real estate sales in the Lower Mainland was $2.628 billion in Q3 2020, a 31.7 per cent increase from $1.995 billion in Q3 2019.

“Businesses across all sectors have been adapting their operations during this pandemic. With the intensive move to a remote workforce, demand for commercial space declined in the third quarter of 2020,” Colette Gerber, REBGV Chair said. “To understand COVID-19’s lasting impact on the commercial real estate market, we’ll need more time and data. Pandemic aside, we continue to have a diverse economy with broad needs for industrial, retail, office, multi-family and other properties to support business activity and job growth in the region.”

Vancouver, B.C. – September 25, 2020 – As the COVID 19 pandemic intensified in the second quarter of 2020 (Q2), the Lower Mainland’s commercial real estate market experienced fewer sales while dollar values fluctuated depending on property type.

Commercial real estate sales totalled 324 in the Lower Mainland in Q2 2020, a 26.5 per cent decline from the 441 sales in Q2 2019, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).

The total dollar value of commercial real estate sales in the Lower Mainland was $1.497 billion in Q2 2020, a 1.1 per cent decrease from $1.514 billion in Q2 2019.

"As COVID 19 forced an economic slowdown in the spring, sales activity in our commercial real estate market predictably followed,” Colette Gerber, REBGV Chair said. “The pandemic has caused employers to adapt how they view and use commercial space. We’ll need more time and data throughout this year and beyond to fully understand how these changing perspectives are affecting our commercial real estate market.”

Vancouver, B.C. – June 10, 2020 – Commercial real estate sales activity and dollar values increased across most property types in the Lower Mainland in the first quarter of 2020 (Q1) compared to the same period last year.

There were 375 commercial real estate sales in the Lower Mainland in Q1 2020, a 10.9 per cent increase from the 338 sales in Q1 2019, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).

The total dollar value of commercial real estate sales in the Lower Mainland was $2.156 billion in Q1 2020, a 37.2 per cent increase from $1.572 billion in Q1 2019.

"The first quarter of 2020 came to a close just a few weeks into the COVID-19 pandemic," Colette Gerber, REBGV Chair said. "While sales and values increased in the first three months of the year, it's too early to assess how the commercial market has been affected by physical distancing rules and other changes that have been implemented due to COVID-19. We'll monitor this through the second quarter of the year."

Vancouver, B.C. – April 1, 2020 – Sales and dollar value activity in the Lower Mainland’s commercial real estate market declined in 2019 compared to long-term historical averages.

There were 1,538 commercial real estate sales in the Lower Mainland in 2019, a 32.8 per cent decrease from the 2,288 sales in 2018 and a 41.5 per cent decline compared to the 2,628 sales in 2017, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).

The total dollar value of commercial real estate sales in the Lower Mainland was $6.859 billion in 2019, a 56.7 per cent decrease from $15.833 billion in 2018.

“Activity in the commercial market slowed in 2019 due in large part to reduced activity across our provincial economy last year,” Ashley Smith, REBGV president said. “We experienced a pickup in home buyer activity in the residential real estate market to start this year, but we’ll have to wait and see how demand for commercial real estate will be impacted by the economic difficulties that the COVID-19 pandemic is causing.”

Vancouver, B.C. – December 12, 2019 – Sales activity in the Lower Mainland’s commercial real estate market continued to decline in the third quarter (Q3) of 2019 compared to recent years.

There were 405 commercial real estate sales in the Lower Mainland in Q3 2019, a 32 per cent decrease over the 596 sales in Q3 2018 and a 42.3 per cent decline compared to Q3 2017, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).

The total dollar value of commercial real estate sales in the Lower Mainland was $1.886 billion in Q3 2019, a 59.8 per cent decrease from the $4.694 billion in Q3 2018.

“Activity in our commercial market this year is trailing the pace we’ve experienced over the last five years,” Ashley Smith, REBGV president said. “We’ve seen activity pickup in our residential market over the last few months and we’ll watch to see if conditions strengthen on the commercial real estate side in the last quarter of 2019 or the first quarter of next year.”

Vancouver, B.C. – September 13, 2019 – Sales activity in the Lower Mainland’s commercial real estate market declined in the second quarter (Q2) of 2019 compared to the more active market experienced in the region last year.

There were 407 commercial real estate sales in the Lower Mainland in Q2 2019, a 32.6 per cent decrease over the 604 sales in Q2 2018, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).

The total dollar value of commercial real estate sales in the Lower Mainland was $1.463 billion in Q2 2019, a 65.6 per cent decrease from the $4.253 billion in Q2 2018.

“The reduced activity in the commercial market has largely mirrored what we saw in the residential market through the first half of 2019,” Ashley Smith, REBGV president said. “Residential demand did pick up in the summer months. How this change will affect the commercial market remains to be seen.”

Vancouver, B.C. – June 18, 2019 – Commercial real estate sales in the Lower Mainland declined in the first quarter (Q1) of 2019 compared to the active market experienced across the region last year.

There were 318 commercial real estate sales in the Lower Mainland in Q1 2019, a 42.1 per cent decrease over the 549 sales in Q1 2018, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).

The total dollar value of commercial real estate sales in the Lower Mainland was $1.531 billion in Q1 2019, a 57.3 per cent decrease from the $3.587 billion in Q1 2018.

“Much like we’ve seen in the residential market, there’s been reduced demand in the commercial real estate market through the first quarter of the year,” Ashley Smith, REBGV president said. “With housing inventory at a five-year high and more supply on the way, the development community appears to be taking a more cautious approach with new acquisitions and projects at the moment.”

VANCOUVER, BC – March 20, 2019 – The commercial real estate market in the Lower Mainland saw fewer sales and lower dollar volumes in 2018 compared to recent years.

There were 2,266 commercial real estate sales in the Lower Mainland in 2018, a 13.6 per cent decrease from 2,624 sales in 2017, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).

The total dollar value of commercial real estate sales in the Lower Mainland reached $15.622 billion in 2018, a 5.2 per cent decrease from $16.483 billion in 2017.

“Demand in the Lower Mainland’s commercial real estate market changed pace in 2018,” said Ashley Smith, REBGV president. “While dollar volumes remained up near the highs we’ve experienced in recent years, we’ve seen reduced demand in line with slower economic growth and rising interest rates.”

Q3 2018 activity by category

Land: There were 199 commercial land sales in Q3 2018, which is a 34.8 per cent decrease from the 305 land sales in Q3 2017. The dollar value of land sales was $2.007 billion in Q3 2018, a 14.8 per cent decrease from $2.356 billion in Q3 2017.

Office and Retail: There were 229 office and retail sales in the Lower Mainland in Q3 2018, which is down 4.2 per cent from the 239 sales in Q3 2017. The dollar value of office and retail sales was $1.377 billion in Q3 2018, a 45.5 per cent increase from $946 million in Q3 2017.

Industrial: There were 118 industrial land sales in the Lower Mainland in Q3 2018, which is down 12.6 per cent from the 135 sales in Q3 2017. The dollar value of industrial sales was $290 million in Q3 2018, a 30.1 per cent decrease from $414 million in Q3 2017.

Multi-Family: There were 19 multi-family land sales in the Lower Mainland in Q3 2018, which is down 17.4 per cent from 23 sales in Q3 2017. The dollar value of multi-family sales was $230 million in Q3 2018, a 3.9 per cent increase from $221 million in Q3 2017.

Vancouver, B.C. – September 13, 2018 – The commercial real estate market in the Lower Mainland continued to see fewer transactions in the second quarter (Q2) of 2018 compared to recent years.

There were 569 commercial real estate sales in the Lower Mainland in Q2 2018, a 16.3 per cent decrease over the 680 sales in Q2 2017, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).

The total dollar value of commercial real estate sales in the Lower Mainland was $4.047 billion in Q2 2018, a 13.4 per cent increase over $3.570 billion in Q2 2017.

“Similar to our residential market in recent months, we’re starting to see fewer transactions across all categories in our commercial market,” Phil Moore, REBGV president said. “Higher interest rates, reduced retail activity, and other economic factors are contributing to this change.”

Q1 2018 activity by category

Land: There were 221 commercial land sales in Q1 2018, which is a 3.9 per cent decrease from the 230 land sales in Q1 2017. The dollar value of land sales was $1.594 billion in Q1 2018, a 20.5 per cent decrease from $2.005 billion in Q1 2017.

Office and Retail: There were 173 office and retail sales in the Lower Mainland in Q1 2018, which is down 15.6 per cent from the 205 sales in Q1 2017. The dollar value of office and retail sales was $1.076 billion in Q1 2018, a 51.8 per cent decrease from $2.232 billion in Q1 2017.

Industrial: There were 113 industrial land sales in the Lower Mainland in Q1 2018, which is down 7.4 per cent from the 122 sales in Q1 2017. The dollar value of industrial sales was $0.280 billion in Q1 2018, a 12.2 per cent increase over $0.250 billion in Q1 2017.

Multi-Family: There were 16 multi-family land sales in the Lower Mainland in Q1 2018, which is down 44.8 per cent over the 29 sales in Q1 2017. The dollar value of multi-family sales was $0.081 billion in Q1 2018, an 81.5 per cent decrease from $0.441 billion in Q1 2017.

VANCOUVER, BC – March 12, 2018 – Commercial real estate sales activity in the Lower Mainland declined from the record highs of one year ago and remained above the region’s longterm historical sales average in 2017.

There were 2,591 commercial real estate sales in the Lower Mainland in 2017, a 10.4 per cent decrease from the record 2,891 sales in 2016, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV). Commercial real estate sales in 2017 were 11.1 per cent above the region’s five-year sales average.

The total dollar value of commercial real estate sales in the Lower Mainland was $15.733 billion in 2017, a 14.5 per cent increase from $13.746 billion in 2016.

"While commercial sales declined from the record pace of 2016, the total dollar value of the activity continued to rise," said Jill Oudil, REBGV president. “The strong economic and employment growth in our province last year helped drive our commercial real estate market in 2017."

Q3 2017 activity by category

Land: There were 278 commercial land sales in Q3 2017, which is a 4.5 per cent decrease from the 291 land sales in Q3 2016. The dollar value of land sales was $2.100 billion in Q3 2017, a 35.3 per cent increase from $1.552 billion in Q3 2016.

Office and Retail: There were 225 office and retail sales in the Lower Mainland in Q3 2017, which is up 0.9 per cent from the 223 sales in Q3 2016. The dollar value of office and retail sales was $578 million in Q3 2017, a 6.1 per cent increase from $545 million in Q3 2016.

Industrial: There were 128 industrial land sales in the Lower Mainland in Q3 2017, which is down 21 per cent over the 162 sales in Q3 2016. The dollar value of industrial sales was $400 million in Q3 2017, a 15 per cent increase from $348 million in Q3 2016.

Multi-Family: There were 21 multi-family land sales in the Lower Mainland in Q3 2017, which is down 46.2 per cent from 39 sales in Q3 2016. The dollar value of multi-family sales was $192 million in Q3 2017, a 48.1 per cent decrease from $371 million in Q3 2016.

VANCOUVER, BC – August 22, 2017 – Commercial real estate activity in the Lower Mainland declined from the record highs of one year ago and returned to more historically typical levels in the second quarter (Q2) of 2017.

There were 595 commercial real estate sales in the Lower Mainland in Q2 2017, a 32 per cent decrease from the record 875 sales in Q2 2016, according to data from Commercial Edge, a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).

The total dollar value of commercial real estate sales in the Lower Mainland was $2.886 billion in Q2 2017, a 37.5 per cent decrease from $4.615 billion in Q2 2016.

“Land and industrial sales experienced the largest year-over-year declines last quarter, with sales in both categories down more than one-third compared to 2016,” said Jill Oudil, REBGV president. “Looking back over several years, however, we see that last quarter’s sale and dollar value activity follow more historically normal trend lines.”

Q1 2017 activity by category 

Land: There were 220 commercial land sales in Q1 2017, which is a 25.7 per cent decrease from the 296 land sales in Q1 2016. The dollar value of land sales was $1.674 billion in Q1 2017, an 11.6 per cent decrease over $1.895 billion in Q1 2016. 

Office and Retail: There were 203 office and retail sales in the Lower Mainland in Q1 2017, which is down 2.4 per cent from the 208 sales in Q1 2016. The dollar value of office and retail sales was $1.614 billion in Q1 2017, an 80.1 per cent increase over $0.896 billion in Q1 2016. 

Industrial: There were 111 industrial land sales in the Lower Mainland in Q1 2017, which is down 28.8 per cent over the 156 sales in Q1 2016. The dollar value of industrial sales was $0.219 billion in Q1 2017, a 13.6 per cent decrease over $0.253 billion in Q1 2016. 

Multi-Family: There were 27 multi-family land sales in the Lower Mainland in Q1 2017, which is down 30.8 per cent over the 39 sales in Q1 2016. The dollar value of multi-family sales was $0.375 billion in Q1 2017, a 55 per cent increase from $0.242 billion in Q1 2016.