430 - Friday, January 8, TORR —- North Shore News | NORTH AMERICA’S: AMERICLA'S Forecast sees steady Canadian commercial real estate growth THE BULLISH confidence which fuelled many Cana- dian commercial real estate markets in 1987 largely will settle into a more steady level of growth in 1988, forecasts Royal LePage Commercial Real Estate Services. Royal LePage researchers say that business confidence in the economy generally is sound despite recent fluctua- tions in the global financial environment. While some market participants are displaying a measure of cautiousness in the wake of stock market corrections, it is unlikely that Canada's commercial real estate mar- kets will be affected in the longer term. Royal LePage'’s most re- cent analysis on the Cana- dian market suggests that in- terest: rate movements, together with regional strengths and weaknesses, will be the major factors impacting user and investor decisions throughout 1988. Within a national context, it is likely that The Winter Olympics in Calgary and The Economic Summit in Toronto will focus interna- tional nicdia attention on Canada throughout much of 1988. This is expected to heighten investor interest in Canada and its commercial real estate markets. — style homes most homes rennet > The Ultimate Ski Chalet @ Ski to your front door! & Spacious duplex and triplex @® 3 bedrooms, 2% or 3 baths & Spa room with hot tub in In Vancouver, the overall office vacancy raic in 1988 is expected tO range between 10-11 per cent. This will be significantly lower than the projected 14 per cent vacan- cy level at year end 1987 and the 20 per cent level experi- enced in 1986, As the office market sw- ings back to a more balanced supply and demand situa- tion, it is expected that rent- al rates will increase marginally and aominal in- ducements will become the norm. Tightening office vacancy in Vancouver's area in 1988 will lead to leasing oppor- tunities in suburban loca- lions. Mixed-use develop- ments, such as Burnaby's Metrotown and City Square in the Cambie/Broadway corridor, will have signifi- cant office components that will provide tenants with an attractive alternative {to downtown locations. While no downtown office development is slated to be introduced in 1988, it is pro- jected that declining vacan- cies will encourage a new phase of office construction. Royal LePage notes, howev- er, that developers will be seeking substantial preleas- ing commitments before commencing new projects. The Royal LePage in- dustrial data base indicates SNOWY CREEK On Blackcomb Way above Whistler Village Open Wed-Fri. 1 p.m~+ p.m. Weekends 1 ft a.m.-4+ p.m. Closed Mon. & Tues. Contact Brian Moran Sales Office: 932-6812 Residence: 932-5741 A preyect by: UNITED PROPERTIES LTD, Suite 201-1185 W Broadway : or Aoi ones Mincouver, BC. VOH 3N5 Telephone: (004) 736-3864 > Vaulted ceilings & Mud room & ski storage & Single car garage @ Average home 1800 sq ft. @ From $220,000 that 1988 will be one of the most active sales and Icasing periods in the Vancouver arca since 1980-8}. On the Icasing side, Royal LePage projects that de- mand will be generated from a broad range of users who are experiencing steady growth and acceptable profit levels. Pent-up demand for warchouse and ‘high-end’ industrial/office space, together with limited supply of product, will cause the overall industrial vacancy rate to decline and rental tates to increase. In turn, these factors will encourage developer and investor inter- est in the industrial market. In 1988, for the second year running, speculative in- dustrial construction is ex- nected to occur throughout the Lower Mainland. To help mect demai:d for development sites, new in- dustrial parks, such as Marine Way Industrial Park in south Burnaby and 40} Industrial Pack in northwest Langley, are under construc- tion, The prospect of higher rental rates in 1988, together with the limited maintenance aspect of industrial proper- tics, will prove increasingly attractive to a wide range of See Prime Page 46 Courtesy to Agents. F 27. LOVELY BOULEVARD HOME 7321 HALIFAX ST., BURNABY H The ‘Ambassador’ offers 2 parm. 1 odim. and B den suoet deluse suites Priced from $106,900 By Open daily ftom 12 10 6 See this comples, you'll be impressed SIEW Lin LEE 980-9234 JUOY KILLEEN 929-4722 = | VALUE PLUS! 1662 SUTHERLAND AVE. This 3 barm. up split level nome has a spacious fy living room with a woodburning fireplace and fq lovely hardwood floors A new rool and a farge fq cOtner lot make this a good buy at $133,900. KIM REYNOLDS 988-3151 / 988-2701 LAND BOWEN ISLAND—LAND 7.81 Ac. $69,000 — VENDOR WILL CARRY $45,000 AT 8% Birch Bay Village-Washington: Beautiful corner fois from U.S. $11,000 — 45 minutes from Vancouver. Paradise Valley-Washington: 2 cul- de-sac lots, only U.S. $3,700. Close to Mt. Baker. MIKE PROKOP 988-3151, 986-7031 NORTH VANCOUVER Lot 1, 54.4 ft. frontage, 5949 sq.ft. Lot 2, 51.4 ft. frontage, 6513 sq.ft. ASKING $63,500 EA. BRAND SPANKING NEW! Exclusive Poskiit design. Tudor style, meticulously built by JW. Jansen, 2200 sq.ft. featuees 3 bdrms, den, sunken liv- ing room, skylights, vaulted ceilngs, 2% baths including ensuite designed to im- press you. For more details cail Ralph. Priced $240's. 4300 block Capilano Rd. Move in February ‘88. NEW LISTING 1073 CALEDONIA AVE. Super home located in desirable Deep Cove, 2000 sq.ft. floor area, including a fully finished ground level basement. Lots of acccmmodation with 4 bedrooms, 2 futi baths. You can eat Sunday brunch every day in the beautiful solarium. ASKING $139,800 LAURIE - GEOFF WILSON CAMPBELL 986-1901 921-8046 als eed Nee BUILDING LOTS Fee? ii AL ESTATE MARKETING SYSTEM. paapeie aed TN ah ne Wa a ee BT ganai ama 23. LOCATION LOCATION L- SUPER SUPERLATIVE! Immaculate 2 bdrm. garden apt. in Cedarbrooke & Village ° Tastefully decorated © Southern exposure ¢in-ste. laundry © Facilities include pool. sauna, clubhouse, pub, playground © Walk f to shopping, bus, rec centre, school. Freehold & conver. completed. #603-555 West 28th, Open Sat. 1-4, LOUISE McELREA 922-2150 STEW LIN LEE 880-9234 $79,000 MANNING PARK ONLY 2% HR. DRIVE! Your dream Winter/Summer home waits either 2 1 large or 2 families. 4 bdrms., 2 bthrms., large fH loft area for more sleeping accommodation. 1600 salt, 4 yrs. old, on 2 street in East Gate, Manning & Park Close to transportation & skiing. The perfect i Gataway home Call is. JUDY KILLEEN 929-4722 PACIFIC REAL ESTATE LTD. #203-250 15th St., West Vancouver WEST VANCOUVER 4850 The Dale, 14,348 sq. ft. 4860 The Dale, 13,142 sq.ft. ASKING. $167,500 & $174,500 TRY $8500 DOWN This immaculate 3 bdrm. 1162 sq.ft. end unit has been handled with care. Altractively renovated throughout. Numerous extras include fireplace, appliances, 1/2 baths & sunny southern exposure, Large assum, mtge. of $98,000. Asking $108,900. 20-230 West 14th St., NV. VADIM - RALPH * KOBASEW BENNETSEN | $186-1901 980-9640 ma Mevnctrimeen