MORE OFFICE SPACE THE OVERALL. vacaney rate for Office space in) downtown Van- couver increased slightly to 8.6 per cent in the third quarter of this year, according to newly- released figures from Coldwell Banker Commercial Real Estate Services. The latest increase of seven ten- ths of one percentage point, is the first increase in the vacaney level after 12 consecutive quarters of declining vacancy levels in’ the dov-ntown core. The increase is the result of weukening demands for office space by tenants who are concern- ed about the overall direction of the North American economy. Those concerns are also reflected in the gross leasing activ- ity (GLA) level. The GLA level decreased 25 per cent in the third quarter of 1990 from the second quarter activity level and decreas- ed 27 per cent to date, compared to 1989. But despite the new vacancy rate increase for downtown office space, Coldwell predicts Van- couver to remain the strongest of- fice market in the country for the next two to three years. BUSINESS BRIEFS Surj Rattan BUSINESS BRIEFS SALES UP B.C. SALES continue to grow at a pace as aggressive as the 10.2 per cent increase experienced in 1989, according to new Coldwell figures. Retail sales increased by 13.6 per cent by mid 1990 over the same period last year while On- tario retailers lost more than 4.6 per cent ino sales volume. B.C. sales are expected to level off in the jast half of the vear to pro- duce an overall increase of PT per cent for L990. An increase in the population base is attributed to the rise in sales. In 1989 BUCS) population base was 79,000 people, or an in- crease of 2.6 per cent. This vear, population growth is expected to increase by 1.8 per cent for the year for the entire province al- though the majority. of that growth will be on the Lower Mainland. Over 70,000 jobs were created in B.C. last year, more than half of all the jobs created in the country. The increase in jobs was the result of increased demand in the private sector due to the in- creasing population, strong export markets, increased tourism and a major increase in capital spending. The unemployment figure for this year is expected to decline to 8.1 per cent from 9.6 per cent. BANK APPOINTMENT WEST VANCOUVER resident John Quinn has been appointed vice-president and western Canada general manager of First Interstate Wednesday, December 5, 1990 - North Shore News - 61 Banh of Canada (RICAN). Quinn is a lO-vear employee of the Laternational Division ot berst Interstate Bank Litd., and was formerly vice-president and First Interstate Bank Etd.. manager for the San) Fransisco Internationa! Division. Quinn was alo the bank's first representative in Australia for five years and has served in various positions in| Singapore, London and the Philippines. ALBERTA PARTICIPATES THE PROVINCIAL government of Alberta will use the B.C. Business Network (BCBN) for distributing to Alberta businesses information about tenders for government purchases in western Canada, B.C. International Business Minister Elwood Veitch has announced. “T> am particularly pleased about reaching this agreement with Alberta because it is an ex- cellent example of interprovincial cooperation,”’ said Veitch, the chairman of the B.C. Trade De- velopment Corp. FREE 30 DAYTRIAL YOU WILL WALK WITH GREATER FREEDOM & INDEPENDENCE OR YOUA MONEY BACK, Recommended by Doctors New Brake lock modal ‘20 off suggesied retail price of '249™ to Dec. Jist. EASILY 2 CONVERTS TOA - CHAIR | 926-3793 or 299-3444 An extra‘backbone’ supporting Canadas resources. Canada is a nation rich in natural resources that are vital to our economy. But Canadian producers face some unique problems in their struggle to survive in the giobal marketplace in which they compete. 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