REAL ESTATE
Recession taking its toll on
commercial real estate markets

ACCORDING TO the an-
nual Royal LePage Survey
of Canadian Real Estate
Markets, Canada’s com-
mercial real estate markets
experienced a second con-
secutive year of tough mar-
- ket conditions in 1991,
Highlights of the survey
reveal that demand in vir-
tually ever-- sector (office,
investment, industrial and
retail) suffered from the
domestic recession and
global events.

According to M. Wayne
Mondville, executive vice-

Services, office leasing was
the least severely affected.
Says Mondville ‘*businesses
continued to need accom-
modation, generating at
least a base level of activi-
ty.” Mondville noted that
while vacancy rates general-
ly rose — from a forecast
national average 1991 year-
end rate of 13.2% in 1991
versus 12.6% a year earlier
-- most of the buildings
planned in the peak years of
the 1980s have now reached
the market. “By 1993 we
expect to be moving towards
balanced markets in most

The office vacancy rates in
Canadian cities are still
below that of most com-
parable U.S. centres, he ad-
ded.

Activity was more severe-
ly depressed in cther sec-
tors. Retail markets suffered
directly from reduced con-
sumer spending. Vacancy
rates rose and some
landlords deferred or reduc-
ed reats to help their retail
tenants survive.

Industrial markets suf-
fered marginally in western
centres, where the vacancy

president of Royal LePage

Commercial Real Estate  centres,’”

Mondville

said. See Commercial page 80

GRAHAM

ISsociateS BUS: 986-9511 |

116 W. Esplanade
North Vancouver

985-8231

THE MONACO

B sunshine ceiling and full appliances. Two

B bathrooms, insuite laundry and gas fireplace. §

B Also full security system. #202-408 Lonsdate.
4 MIKE WINTEMUTE 985-8231
GLEN MOODY 985-8231

‘ BUILDING LOT
Very aviet street for this level 50x130 lot with

scuth west exposure. Close to elementary and &
7 high schools, bus routes and shopping. Cozy two §

= bedroom cottage presently rented. MLS.
MIKE WINTEMUTE 985-8231

$187,000 | ji

RES: 988-6781 |

ONE OF NORGATE’S
; FINES7! .
4 BR rancher almost 1400
' sq.ft. with totally updated §
; decor, kitchen & bathroom,
plus partly finished family
room includes 6 ap- @
pliances, skylight. Quaint §
old English garden. Up- §
dated wiring & oodles of ex- ¥
tras. Located on cul-de-sac,
close to schools and §
playground.
LEWIS GRAHAM
988-6781
$86-9511

MIKE
WINTEMUTE

RIVERFRONT DELIGHT

H One of the nicest two bedroom apts. under E 74° of the Seymour River border this 11,700 sq.ft.

B $200,000. Large kitchen with European cabinets, ff

lot. Level anc beautifully landscaped with an up- fj
dated and expanded home. New kitchen, 2 full g
bathrooms and 2 car garage. 790 Grantham ¢

6 Place. MLS.

MIKE WINTEMUTE 985-8231
GUNTHER FORST 985-8231

UNBEATABLE VALUE
You must get inside this home to appreciate all
the features. French doors, nardwood & tite
floors. European kitchen and twa fui! bathrooms.

Ml two car garage off the lane. 224 West 23rd. MLS. B

MIKE WINTEMUTE 995-8231
BILL MORROW 935-8231

Friday, November 29, 1991 - North Shore News - 59

Thank you,
North Vancouver!

The Observatory
is now over 80% sold!

DON'T MISS OUT!
Only a few choice
suites left, so call
today to guarantee
yourself a home in
this unique building.

OREN

ore

Matte: Sates Anata

“SERVICE
#710-333 Brooksbank Ave. GUARANTEED
PARK & TILFORD CENTRE writings — |
988-2022 Bese eae a
KAREN CAMERON
WANTED LARGE FAMILY
OPEN HOUSE
SAT/SUN. 2-4:36

e 5-6 bedrooms
© Cul-de-sac

© Large lot

* Basement

fey wi

3966 BROCKTON PLACE

2407 MARINE DR.,

WEST VANCOUVER “CALL FOR DETAILS”

926-6011 (24hrs.)
GREAT LOCATION, CLOSE TO QUAY

; DELUXE 1 BDRN
APT.
#113-251 W. 4TH
Completely updated. Newer

and floors,
dishwasher & frostfree
fridge, garden patio & in-
suite storage. Pets allowed.
FANTASTIC BUY
ASKING $112,000