O8 - Friday, July 4, 1986

North Shore News

Real Estate
PROPERTY STIMULATED

Expo bodes well
for real estate

BROAD UNETERNA-
TIONAL exposure due to
Expo 86, a strengthening
provincial economy, and in-
creasing cansumer  con-
fidence are the positives
stimulating considerable
commercial real estate activ-
ity in Vancouver.

A recent survey by Royal
LePage Commercial Real
Estate Services has found
that more than $70 million
of investment product has
been sold by the firm’s local
office in the first quarter of
1986.

Transactions included sale
of the Sheraton Landmark
and Sheraton Plaza 500
hotels, both in downtown
Vancouver, and the
Sheraton Villa Inn in Bur-
naby, to a U.S.-based real
estate and financial services
organization.

A 72-suite apartment/
commercial complex, located
on Robson Street, was pur-
chased by offshore investors
and 100 units in two apart-
ment buildings on Beach
Avenue were sold to a local
syndicate.

INCREASED INTEREST

“Institutional investors
from Canada, the United
States, Europe and the Mid-
dle East are expressing in-
creasing interest in Van-

fies |
LEONA DOLMAN

couver’s real
duct.” says F.
dlacks, Vice President &
General Manager Van-
couver Commercial
Brokerage.

“This increased interest
can, in part, be attributed to
the unusually high level of
international exposure Van-
couver currently is receiving
because of Expo 86. Capital-
ization rates on these tran-
sactions have been relatively
low, reflecting an increase in
values plus a long-term
perspective on the part of
investors."*

The addition of new office
supply in the downtown area
has contributed to an up-
ward movement in the
vacancy in the first two
months of 1986, to just
under 20 per cent.

New additions include:

ethe Sun Afliance
Building at 580 Hornby
Street, 55,000 sq. ft.;

ethe Shon Group
Building at 1128 Hornby
Street, 39,000 sq. ft.;

«the World Trade Centre
at Canada Harbour Place,
240,000 sq. ft.

Overall core class A office
vacancy is approximately 19
per cent (as indicated in
Royal LePage’s latest survey
of 115 buildings of more
than 20,000 sq. ft.). Vacancy
in institutional quality

estate pro-
Peter Mad-

Off.: 985-9544
Res.: 986-4655

OPEN SUN 2-4

PEMBERTON HEIGHTS

buildings, however, is ap-
proximately 14 per cent,
teflecting stronger activity in
this market segment,

USERS UPGRADE

Users continue to upgrade
from class B space, ttking
advantage of rental rates
ranging from $16-25 per sq.
ft. net and substantial in-
ducements on a_ five-year
lease averaging 2-242 yeurs
of net rent, says Maddocks.
‘Both an increase in class B
vacancy and subleasing ac-
tivity can be attributed to
this movement.”

Industrial activity also
continues to strengthen, with
space shortages now being
reported for some product
categories, particularly in
facilities larger than 20,030
sq. ft. Some build-to-suit ac-
tivity is underway to fill this
demand, says Maddocks.

Industrial vacancy is 3 per
cent in Vancouver, between
5-6 per cent in Richmond,
and 10 per cent in outlying
areas.

“Strongest demand is for
buildings under 20,000 sq.
ft., cavering to. ser-
vice-oriented firms,’’ says
Maddocks. Renta! rates have
escalated by as much as 15
per cent in some areas in re-
cent months, to between
$3.50 - $5 per sq.ft. net.

“133,900

Prime location for this lovely remodelled 3 bedroom.

12 baths ranctier.

Separate dining room, deluxe oak kitchen with adjoining family room. vaulted
ceiling in living room & skylite bathroom. Situated on a beautiful fully fenced
comer jot. See you Siinday at 1987 PEMBERTON AVE.

AMBLESIDE - 54°x%1432°

GABRIOLA ISLAND -

booacre,

LEONA DOLMAN 986-4655

BUILDING LOTS

with creek & some view.
bulld now or hold for retirement.

& BLOCK BROS. REALTY LTD. a

1765 VISTA CRES., HOSPITAL HILL
$89,750

Come and enjoy the cool mountain breeze in SEA TO SKY coun-
try. Save $35,000 over a comparable 3 bdrm. rancher on the
Noth Shore. Commuting from this gorgeous home on the new
highway currently under construction will put you downtown in
50 minutes. Numerous features include knotty pine panelling
throughout, wet/dry sauna in the ensuite, fruit trees, berry bushes
and all the private quietness in the world. Let me show you this
home and others like it in Squamish that present a tremendous
bargain for the discriminating home buyer. Call

BRIAN GILES 688-5917 or 892-3571

GLADYS PICKSTONE |
FRA. C.M.R., Bl. (BC)

DOREEN RUSHTON
SALES CONSULTANT

SUMMER !S GREAT
HERE WITH THE LOVELY POOL AND PATIO!
IMMACULATE BUNGALOW STYLE HOME! 3
BDRMS., DEN, 2 BATHRMS . 2 FIREPLACES,
SOLID OAK KITCHEN, SELF-CONTAIEND MOR-
TGAGE HELPER ON LOWER LEVEL! 4150'S.

OPEN SUN. 3-5 P.M.
530 W. 21ST ST.
JUST HALF BLOCK EAST OF WESTVIEW
YOU'LL FIND THIS GEM OF A STARTER HOME
ATWO BDRM RANCHER WITH OGDLES OF
POTENTIAL ALL FOR $104,900!

CANYON HEIGHTS
WELL-MAINTAINED 4 BURM FAMILY HOME
ON LARGE PRIVATE AND FULLY FENCED
LEVEL LOT! CLOSE TO SCHOOLS AND
TRANSPORT! OFFERS TO $159.500

(2 1s a
OPEN SUN. 3-5
14361 DYCK RD.
JUST c&o’ OFF MTN. HWY IN QUIET CUL-DE-
SAC! LEV/IS POST AND BEAM WITH SPACIOUS
MAIN 7 LOOR AND 4 BDORMS UP! 3130'S
a Z

ANDERSON LAKE
fh LOVELY ACRES WiTti
SMALL CABIN: $60°S.

WATSON LAKE
TWO HALF ACRE LOTS Lak E FRONTAGE
$23,500!

NEW LISTING $130’S
TWO LEVEL 4 BORM. BUNGALOW WITH 2UR-
NABY SOUTH SLOPE VIEWS AND SUNNY LOT!
BE THE FIRST!

GIBSONS
EASY BUILDING SITE WITH
FOUNDATIONS IN! $25,000