Developer Shrugs off Vancouver Office-Space Glut; Franz Gehriger Betting on Strong Demand Above Old Stock-Exchange Offices

Another 3 million square feet of office projects are in the development pipeline for downtown, representing a potential 13% expansion of downtown office stock, according to brokerage CBRE Group Inc. The vacancy rate for A-grade office space downtown climbed to 11.3% in the second quarter from 6.3% i...

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Bibliographic Details
Published in:The Wall Street journal. Eastern edition 2015-09-02
Main Author: Hudson, Kris
Format: Newspaper Article
Language:English
Subjects:
Buildings
Commercial real estate
Competition
Construction
Corporate headquarters
Office space
Pension funds
Site planning
Stock exchanges
Tenants
Vacancies
Online Access:Get full text
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Summary:Another 3 million square feet of office projects are in the development pipeline for downtown, representing a potential 13% expansion of downtown office stock, according to brokerage CBRE Group Inc. The vacancy rate for A-grade office space downtown climbed to 11.3% in the second quarter from 6.3% in the first, CBRE said. Cadillac Fairview Corp. Ltd., the real-estate arm of the Ontario Teachers' Pension Plan, built the 725 Granville tower and signed Microsoft Corp., Sony Pictures Imageworks and law firm Miller Thomson LLP as tenants to put the 293,000-square-foot building at 92% occupancy.
ISSN:2574-9579