Vancouver Retail Market Report 2013 Q2

7/27/2019 Vancouver Retail Market Report 2013 Q2

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metro vancouverllis iil | k p

biish lbi

Q2 2013 | RETAIL REPORT

BC MARKET: Cs s v fcs n Bs

Cb: Vncv, Sy, Kn, Nn

n Vc.

Nanaimo

Vancouver

Kelowna

SurreyVictoria

Metro Vancouver Market Overview

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marKet oreCaSt iNdiCatorS

VaCaNCY

Net aBSorPtioN

New deVeloPmeNt

reNtal rate

CaP rate

KeY highlightS

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market report | Q2 2013 | retail | metro vancouver

Market Demand DriversoNSumer SeNtimeNt

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d -y d x Jy 2010

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aNadiaN dollar StreNgth VS.

roSS Border ShoPPiNg

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Dg q 2013, D xg

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reater VaNCouVer regioNal diStriCt

retail exPeNditure

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F 2012 2013

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0

20

40

60

80

100

120

140

Jun-08

Sep-08

Dec-08

Mar-09

Jun-09

Sep-09

Dec-09

Mar-10

Jun-10

Sep-10

Dec-10

Mar-11

Jun-11

Sep-11

Dec-11

Mar-12

Jun-12

Sep-12

Dec-12

Mar-13

Canada British Columbia Five Year Average

200,

300,

400,

500,

600,

700,

800,

900,

1,000,

1,100,

$0.80

$0.85

$0.90

$0.95

$1.00

$1.05

Mar-08

Jun-08

Sep-08

Dec-08

Mar-09

Jun-09

Sep-09

Dec-09

Mar-10

Jun-10

Sep-10

Dec-10

Mar-11

Jun-11

Sep-11

Dec-11

Mar-12

Jun-12

Sep-12

Dec-12

Mar-13

CAD Value Number of Shoppers

Sporting Goods, Hobby, Books and Music

Electronics and Appliances

Miscellaneous Retailers

Average

Health and Personal Care

Clothing

Gasoline Stations

General Merchandise

Food and Beverage

Home FurnishingsMotor Vehicle

Building Material and Garden Supplies

-8.0%

-6.0%

-4.0%

-2.0% 0.0

%2.0

%4.0

%-10

.0%

British Columbian vs. Canadian Consumer Condence

CAD Strength and Cross Border Shopping

Retail Expenditure in Metro Vancouver

Source: Bank of Canada/ Statistics Canada

Source: Statistics Canada

Source: Conference Board of Canada / Colliers International Market Intelligence


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Street Front Retail

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STREETFRONT LEASE AND VACANCY RATES

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s 150-200

Yw 40-65

s G 40-75

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JANUARY 1 - JUNE 30 2013 NOTABLE LEASE TRANSACTIONS

DDss iipliY Gl (sF)

Fraser Way Place,#8 - 32451 s F Wy

d 8,371 D

Fraser Way Place,32465 s F Wy

d 5,107 g Fd

Garrison Village Shopping Centre,Vdd d k W d

w 4,000 F W d

11965 F s dg 20,000 16

Oxord Market,2020 xd ,

p q 3,000 ls

Lansdowne Shopping Centre,

5300 . 3 dd 8,000

i

b

Lansdowne Shopping Centre,5300 . 3 d

d 4,132

Central City Plaza,10153 kg Gg bd

sy 20,000 16

1198 h s V 8,800 D d Dg

169, 6500 hg s V 6,353 W s

6391 F s V 5,394 b

Maynards Block,445 W 2d

V 4,357 y F

#201 - 950 W bdwy V 3,533 Gy-k

1505 s V 1,718 p

Notable transactions over the

period have been dominated

by service- oriented retailers.

These types o tenants have

been expanding, easing some

o the vacancy issues arising

rom downsizing big box

retailers.

Central City Plaza, Surreyb 16 cny sn s 20,000 S

spc cn, kn v spcpvsyccp by sn .

Source: Colliers International


5/8


JANUARY 1 - JUNE 30 2013 NOTABLE SALE TRANSACTIONS

DDss iipliYsi

siZ (sF)l pi

Highstreet,3122 l d, d

d 169,000 $7,000,000

Garrison Village Shopping Centre,Vdd & k W d

w 48,097 $11,750,000

Lougheed Super Centre,101 s s

q 81,115 $29,850,000

1311 d bd q 54,523 $8,300,000

Aldergrove Village ShoppingCentre, 26310 F hgwy

lgy 91,517 $29,250,000

Metropolis,

1202 d sV 22,042 $16,840,000

13762-13766 72d sy 44,915 $6,400,000

3711 . 3 d d 4,800 $7,100,000

1100 s d 2 $5,485,000

2067 s Wy d 58,000 $7,500,000

Save On Meats,43 W hg s V 20,500 $5,450,000

850 s.W. D V 45,621 $12,925,000

2999 Gdw hgwy V 35,232 $11,675,000

Kits360,1777 W 7

V 14,126 $9,000,000

3284-3298 bdwy V 21,340 $7,500,000

4956 D s V 16,470 $6,700,000

8723 & 8729 h s V 19,672 $5,950,000

2828 G s V 2,012 $5,345,000

Several prominent sales

transactions o centres...

cumulatively contributed

$77.25 million to the total

sales or the frst hal o 201

Garrison Village Shopping Centre, Chilliwackt cn, c V n K wsnr, s $11.75 n.

ource: Realnet / Colliers International


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market report | Q2 2013 | retail | metro vancouvermarKet rePort | Q2 2013 | retail | metro VaNCouVer

Shopping Centres

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g. s g y d $77.25

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OPEN FOOD-ANCHORED SHOPPING CENTRE SURVEY - 50,000 SF OR GREATER

Gisb F

shs

s pD s Gl (sF)VY

d/lgy/ dg 17 $10 - 30 $14 - 35 $28 - 45 2,290,629 3.2%

by/ w W 10 $8 - 32 $20 - 35 $20 - 45 1,725,309 1.5%

w 5 $12 - 20 $15 - 25 $12 - 26 436,665 10.1%

D 7 $10 - 15 $13 - 32 $30 - 35 689,615 1.9%

dg/ p dw/

6 $15 - 20 $20 - 35 $30 - 35 1,206,481 3.7%

s 8 $10 - 30 $25 - 75 $35 - 60 927,200 1.5%

d 9 $6 - 20 $17 - 45 $20 - 49 855,720 0.8%

sq 3 $11 - 22 $18 - 35 $22 - 35 213,344 3.4%

s sy/ W 5 $15 - 30 $30 - 55 $35 - 40 1,457,015 3.9%

sy - 17 $10 - 20 $15 - 35 $25 - 30 1,809,281 3.8%

- 9 $13 - 30 $20 -40 $35 - 40 963,637 1.5%

V () 6 $15 - 20 $22 - 52 $35 - 55 497,290 0.2%

V ( xd-) 6 $18 - 28 $35 - 65 / 582,321 0.1%

109 13,654,507 2.6%

*F xy 1,000 sF

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market report | Q2 2013 | retail | metro vancouver marKet rePort | Q2 2013 | retail | metro VaNCouV

Outlook

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Short-term orecasts are

expected to be moderate, wi

continued demand or space

rom tenants and investors

alike placing the Metro

Vancouver retail market in a

position or growth over the

mid- to long term.

Metropolis, 1202 Richards Streetts ppy s s by Cs innn $16.84 n n scn q sy.


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Documents

Vancouver Retail Market Report 2013 Q2