62 - Friday, November 15, 1991 - North Shore News REAL ESTATE Industrial market remains strong "JEANNETTE WRIGHT Ess : H.: 9219499. Pgr.: 623-5797 ANNIE GRAHAM H.: 922-0647 From page $8 the year, but most move- ment will be lateral, and downtown absorption will be below historic levels. Greater absorption is forecast for . Burnaby and Broadway. Royal LePage expects the overall vacancy rate to climb to 13.7% by the end of 1992. The retail market also suffered from oversupply in 1991, with centres normally fully occupied experiencing vacancies. Additional devel- opment in 1992 will increase vacancy and depress rents although Vancouver’s grow- ing population should help support retail sales and thus * demand for space. During 1991, in contrast to its other commercial property markets, Van- couver’s industrial real estate market was among Canada’s strongest. the survey said. Rental rates and sale prices generally held their values, down only marginally from mid-1990 peaks. Oversupply was not a problem, with the ©1991 year-end vacancy rate forecast to be about 3.5% — the fowest of any major city in Canada, and well below the average for the eight cities surveyed of 7.7%. Healthy demand in 1992 is forecast to further reduce vacancies to about 3%. Investment activity during 1991 was, as in 1990, down Significantly from 1989's peak. Demand was inconsis- tent throughout the year, al- though well-located retail and office properties con- tinued to attract interest. There was broad availability of product but cautious in- vestors waited for signs of economic recovery. Towards the end of 1991, vendors’ expectations came more in line with market realities, suggesting that activity will increase in 1992, with in- creased purchasing by both domestic and offshore in- vestors. Pgr.: 623-5722 GREAT VALUE 4 YRS. OLD — $268,000 # Wonderful custom home backing onto a huge greenbelt — 3 bdrms., 2 baths, sep. dining room, cosy liv- ing room on main floor, ¢ully finish- ed lower level with 1 bdrm accom-