88 - Friday, November 15, 1991 — North Shore News

REAL ESTATE

Survey finds local office and
and retail space oversupplied

VANCOUVER’S INDUS-
TRIAL real estate market is
very strong, although office
and retail real estate sectors
will continue to experience
an excess of space in 1992,
according to highlights
teleased from the upcoming
Royal LePage Survey of
Canadian Real Estate Mar-
kets. However, attractive
and available products
should make Vancouver a
major western focus of
commercial real estate in-
vestment activity in 1992,
the survey says.

Business restraint born of
the recession, coupled with
more than 2 million sq. ft.
of new space, constrained
Vancouver’s office leasing
sector in 199]. The city's
office vacancy rate is ex-
pected to climb to about
12.6% by year-end from
9.2% a year earlier. How-
ever, Vancouver's vacancy
remains close to the average
of the eight Canadian cities
surveyed by Royai LePage.

“In 1991 we saw several
new buildings added to the
core and suburbs,’’ said

John Gantner, vice-presi-
dent, Royal LePage Com-
mercial Real Estate Services.
“*To worsen matters, during
the first half, most com-
panies were cautious and
avoided making major space
commitments, which
resulted in little absorp-
tion.”’

tr 1992, a further 800,000
sq. ft. of new space will be
added to the downtown
market. Leasing activity is
forecast to increase during

See Industrial page 62

5 Krovat LePAGE

DEBORAH
SPICER
Office: 926-6011
(24 hrs.)

2407 Marine Dr.
West Vancouver

INVESTORS!!!

FIGURE THIS a
4 condominiums from ¥
rents $24,480 per annum. §
Pool, sauna, recreation cen- §
tre, resident manager. Beat §
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926-6011

HELEN
DETELS
“CALL FOR DETAILS’

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#113-251 W. 4TH

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926-6011
926-2357

ROYAL LePAGE
[Frovat Lace E>

2407 Marine Drive
West Vancouver

2407 MARINE DR.,
WES7 VANCOUVER

CANYON HEIGHTS
RANCHER

BETTER THAN ACONDO §
GET INSIDE! You will love this ©
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OPEN SAT/SUN 2-4

Completely updated. Newer
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fridge, garden patio & in-
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FANTASTIC BUY
ASKING $112,000

116 W. Esplanade
North Vancouver

985-8231

2407 Marine Drive
West Vancouver, 8.C.

926-6011 MARY LOU LAUX ~ LORRAINE
MCKAY

HELEN McCALLUM “SHENILLA _
ABDULA

SUSAN
HILTON
VISTA ESTATE
WEST VANCOUVER
VENDOR RELOCATING
— MUST SELL
AN GPULENT 7500 SQ.FT. HOME
ON 1 ACRE WITH MARVELOUS
OCEAN VIEWS & MAGNIFICENT
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1Sr Pa)
Ps
No

“PARKVIEW TOWERS” AMBLESIDE
2 BDRM — CONCRETE HI RISE

just HSTEP

BUILDERS?!
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4 SUPERB VIEW LOT GF OVER 12,000 SQ.FT. IN AN
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» New carpeting * 1 floor above lobby
: * New ceramic floors ® Lovely mtn. views :
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LORRAINE MCKAY
285-6087

e 900+ sa.ft.

| #105-555 13TH ST., WV.

SUSAN HILTON SHENILLA ABDULA
988-6822 986-5718