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New property listed in Cloverdale BC, Cloverdale

I have listed a new property at 4 5723 176 ST in Surrey. See details here

Opportunity to lease a well located retail unit (1,550 sf.) in the vibrant commercial district of Cloverdale. The unit is located in a commercial building with 4 units and ample surface parking. Three of the units are leased to Uptown Dawg (Pet Food and Grooming), Thrive Greenery and Gifts (Artisan Gifts, plants and flower bouquets), Ruby Siam Thai Kitchen (Thai Restaurant). The building is in proximity to other well known retailers, service commercial businesses and resturants such as The Henry, Vault Restuarant, Hawthorne Beer market and Bistro. The subject unit is currently leased to The Heart, which is a fashion, home goods and bath and beauty store. It has excellent visibility and access with strong foot traffic along 176 St. The interior is tastefully improved and well lit, featuring a spacious open retail area, two fitting rooms, and two office/storage rooms in the back. The unit is ideal for retail businesses looking to establish or grow in this thriving community.

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New property listed in Fairview VW, Vancouver West

I have listed a new property at 2439 GRANVILLE ST in Vancouver. See details here

Opportunity to purchase an excellent turnkey beauty salon business located in the Clock Tower building, at the prime intersection of Broadway and Granville St in the City of Vancouver. The business has six mobile cutting stations and 1 private cubicle for beauty treatments (facials, waxing, tattos etc), which are rented out to self-employed staff on a monthly basis (part-time and full-time basis). Rental details along with the financials can be provided upon offer acceptance. The business licence covers a wide variety of hair dressing & beauty treatments, including hair cutting, styling, colouring, eyelashes & waxing. The sale also includes a front desk, a retail product shelf, 3 double sided/mobile station units, 6 hydraulic cutting chairs, Infra Red Color processor, mobile hood/hair dryer, 2 hair sinks, fridge and washer dryer & much more. Please contact for more information and to view the property. Do not approach the property or talk to the staff without geting approval from the listing agent.

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I have sold a property at 302 1493 FOSTER ST in White Rock

I have sold a property at 302 1493 FOSTER ST in White Rock on Feb 27, 2024. See details here

Opportunity to purchase a brand new office space on the third floor of the Foster. The property is in shell condition and the seller has applied for a TI permit, which is expected by the end of November 2023. The proposed layout includes four private offices, one conference room, a reception, and a kitchenette. There are shared washrooms and underground parking in the building. The property is close to transit and situated one block from the Semiahmoo Shopping center and the Johnston Road, which is the primary commercial node in the South Surrey/ White Rock area. The property is perfect for professional offices including lawyers, architects, accountants and other such uses. The unit is easy to show, please contact for more information.

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New property listed in White Rock, South Surrey White Rock

I have listed a new property at 8 1493 Foster ST in White Rock. See details here

Private offices in a shared AAA office space located in the Foster building in the Downtown area of the City of White Rock. This is an amazing opportunity to work in a brand-new professionally improved ground-level office space in one of the most desirable office locations in the City, in close proximity to restaurants, retail and publice transit. At completion, office space will be beautifully furnished with modern office furniture, 12' - 14' ceiling heights, 9' tall windows and a shared conference room. Office rental will include one modern desk with under-desk cabinet, one chair, shared use of conference room, printer, internet, utilities and, cleaning services. We are flexible with the lease term. Rates from $800 - $1,500 per month, depending on the space leased and the lease term.

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New property listed in White Rock, South Surrey White Rock

I have listed a new property at 302 1493 FOSTER ST in White Rock. See details here

Opportunity to purchase a brand new office space on the third floor of the Foster. The property is in shell condition and the seller has applied for a TI permit, which is expected by the end of November 2023. The proposed layout includes four private offices, one conference room, a reception, and a kitchenette. There are shared washrooms and underground parking in the building. The property is close to transit and situated one block from the Semiahmoo Shopping center and the Johnston Road, which is the primary commercial node in the South Surrey/ White Rock area. The building is perfect for professional offices including lawyers, architects, accountants and other such uses. The unit is easy to show, please contact for more information.

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New property listed in White Rock, South Surrey White Rock

I have listed a new property at 302 1493 FOSTER ST in White Rock. See details here

Opportunity to lease roughly 1,063 sf of brand new office space on the third floor of the Foster Martin Development. The property is close to transit and situated one block from the Semiahmoo Shopping center and the Johnston Road, which is the primary commercial node in the South Surrey/ White Rock area. The property is brand new and in shell condition, which provides an excellent opportunity for the new tenant to improve it to their requirements. There is ample parking on site, as well as street parking. The building is perfect for professional offices including lawyers, architects, accountants and other such uses. The building is easy to show, please contact for more information and appointments.

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Leased: 103 15505 Marine Drive White Rock BC
 

103 15505 Marine Drive White Rock is now leased. The property is a 534 sf. retail strata unit located on the street level of a mixed-use building (15505 Marine Dr. White Rock). The unit is functional and is improved as an open plan office space with a washroom in the back. The unit has water views and is in proximity to restaurants and public transit. There is ample paid parking along Marine Drive. The unit is perfect for a small retail or office uses. The unit has excellent street presence and access.

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Turnkey Office/Industrial property for Sale on Graybar Road in East Richmond

Turnkey Office/ industrial property for Sale at 140 6751 Graybar Rd Richmond. See details here

This is an opportunity to purchase roughly 2,886 sf. of a professionally finished office strata unit. The ground level has a reception area, a large training or conference room, a handicap accessible washroom and a small storage space with grade loading access. The upper floor is improved to include an open office area, four private offices, two 2-piece washrooms and a kitchenette. The subject unit has two front entrances, one for each level. The buyer can occupy one level and lease out the other level for additional income

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New property listed in White Rock, South Surrey White Rock
I have listed a new property at 103 15505 MARINE DR in White Rock.
This is an opportunity to lease roughly 534 sf. retail strata unit located on the street level of a mixed-use building (15505 Marine Dr. White Rock). The unit is functional and is improved as an open plan office space with a washroom in the back. The unit has water views and is in proximity to restaurants and public transit. There is ample paid parking along Marine Drive. The unit is perfect for a small retail or office uses. The unit has excellent street presence and access. It is easy to show, please contact for more information and appointments.
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New property listed in White Rock, South Surrey White Rock
I have listed a new property at 302 1493 FOSTER ST in White Rock.
Opportunity to lease roughly 1,063 sf of brand new office space on the third floor of the Foster Martin Development. The property is close to transit and situated one block from the Semiahmoo Shopping center and the Johnston Road, which is the primary commercial node in the South Surrey/ White Rock area. The property is brand new and in shell condition, which provides an excellent opportunity for the new tenant to improve it to their requirements. There is ample parking on site, as well as street parking. The building is perfect for professional offices including lawyers, architects, accountants and other such uses. The building is easy to show, please contact for more information and appointments.
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New property listed in South Granville, Vancouver West
I have listed a new property at 2439 GRANVILLE ST in Vancouver.
This is an opportunity to sublease a tastefully decorated beauty salon located at the intersection of Broadway and Granville St in the City of Vancouver. The property is located in the Clock Tower building in the South Granville shopping and business district, at the intersction of Broadway and Granville St. This location is ideal for a Beauty Salon that is looking for a strategic location with significant vehicular and pedestrian oriented traffic. The subtenant needs to purchase the existing tenant improvements. The improvements includes front desk, retail product shelf, double sided/mobile mirror station units (X3), hydraulic cutting chairs (X6), Mini shelf for mirror station (X6), Infra Red Color processor, mobile hood/hair dryer, hair sinks (X2) and much more. Please contact for more information and appointments. This won't last.
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New property listed in Bridgeview, North Surrey
I have listed a new property at 13135 116 AVE in Surrey.
Open your own Truck and Trailer Repair Facility in the Bridgeview area of North Surrey. The property has excellent vsisibility from the South Fraser Perimeter Road, which connects the Deltaport and Highway 99 in Delta to Highway 1 at 176th Street in Surrey and provides truck access to several major industrial areas in Metro Vancouver. For more information contact the listing agent.
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Urban Intel: Surrey Industrial Market Intel

COVID-19 has not made a dent in the industrial market in the City of Surrey. The demand for industrial space is still high and the lease rates have also shown a lot of resiliency. As a reult, tenants are unlikely to receive any tenant inducements despite the pandemic. The City has witnessed strong absorption rates, roughly 1.2 million over the last year and the vacancy rates are currently around 2.0%, even after the delivery of 1.5 million SF over the past 12 months. Thus, the industrial market fundamentals of the City are very strong. 


The industrial lease rates in the City have shown strong growth over the last three years at an average rate of 9 percent per annum. Average industrial rents in Surrey have now increased to $13 psf. per year NNN. It is likely that the rents will either remain stable or decline modestly by the end of the year due to the current pandemic. However, considering that there is limited industrial inventory in the market, it is more likley that the rents will maintain their current levels. 


Industrial sales activity in Surrey averages around 50 - 60 transactions per year since 2016. The average sales price in the market are in the range of $275 - $375 psf. In addition, the current average cap rate is expected to range from 4.4% to 4.8%.  


Surrey is home to eight business parks including: Campbell Heights, South Westminster, Bridgeview, Port Kells, Newton, Cloverdale, Rosemary Heights, Highway 99 Corridor, and Douglas. The City has roughly 18% of total industrial land in Metro Vancouver, of which nearly 32% is either undeveloped or vacant. The City is favoured by the logistics and distribution related businesses as the properties have tended to be much newer, larger  and with taller ceiling heights compared to the other submarkets in Metro Vancouver.

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Are home prices falling in Surrey and South Surrey White Rock area?

No Home prices in Surrey and South Surrey White Rock area are appreciating. Even though there remains a lot of uncertainty related to COVID-19 and its impact on real estate prices, Surrey's housing market has shown a remarkable amount of resiliency. Based on MLS HPI it is evident that the housing prices in Surrey and South Surrey White Rock area peaked in May 2018 and then declined till the end of Dec 2019, before showing signs of price appreciation. Even during the months of March - June 2020 the House Price Index displayed modest growth, i.e, housing prices appreciated, on account of limited inventory of homes for sale. 


While home sale activity is still below long-term averages, however the Surrey home market has witnessed an increase in sales in June and July compared to the last year and the spring season. Since the begining of July 2020, several realtors in Surrey have also reported a return to multiple offers on properties and of homes selling well above their asking prices. This was likley driven by the pent up demand, low interest rate environment and buyers adapting to the saftey protocals of buying and selling during the pandemic. It is also likely that some of the demand was driven by the buyers moving from higher density neighbourhoods within the Region to the relatively less dense suburban Surrey neighbourhoods. 


Price activity within the Surrey housing market showed an upward growth, average prices of single-family detached home (+7.5), townhomes (+2.6%) and apartments (+0.5%) displayed growth compared to price levels for June 2019. Within Surrey, the benchmark price of a home (residential combined) was at $886,800 by the end of June 2020, up by 0.4% from the month before, and up 3.3% from the same month last year.


Thus home prices in Surrey have stabilized and are appreciating, as compared to some of the other municipalities in British Columbia and the Country. This is likely to make Surrey and South Surrey housing market even more desirable to homebuyers and investors. This suggests that Surrey's housing market will witness continued price growth over the rest of the year. Also, buyers will be best served by buying now rather than waiting for decline in prices which might not materialize in Surrey.

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COVID-19 Predicament for Commercial real estate landlords

Retail landlords are faced with a terrible choice, when it comes to retail tenants not paying rent due to fall in revenues as a result of COVID-19. The landlords can either accept the government aid package (Canada Emergency Commercial Rent Assistance program or CECRA) and take a 25% hit to rental revenues or evict non-paying tenants. 


Landlords accepting the CECRA program must offer a minimum of a 75 per cent rent reduction to small to mid-size business that have suffered at least a 70 per cent downturn in revenues for the months of April, May and June 2020. They must apply for the assistance, which will be in the form of forgivable loans to cover 50 per cent of three monthly rent payments that are payable by eligible small business tenants. Small business tenants would cover the remainder, up to 25 per cent of the rent. In addition, businesses eligible for rent support from the federal government (CECRA) will be protected from evictions as per the B.C. government's June 1 order under the Emergency Program Act (EPA).


                                     

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Please visit our Open House at 49 20881 87 AVE in Langley.
Open House on Sunday, June 18, 2017 2:00PM - 4:00PM
BEST VALUE IN KEW GARDENS! This gorgeous move-in-ready 1660 Sq. Ft. duplex 2 storey townhome with 3 bedrooms, 2.5 baths & den in most desirable Walnut Grove has an open-concept layout with 9' ceilings & dual-tone laminate flooring (no carpets). A welcoming bay kitchen has it all- a large pantry, granite countertops, stainless steel appliances, spacious cabinets & tons of natural light. A covered patio & secured backyard for entertaining. Side-by-side 2 car garage, 2 open parking & visitor parking in front of the unit is a rare find! 3 large bedrooms on the upper floor with stunning view of North Shore Mountains from master. Steps from Alex Hope,Walnut Grove Secondary, trails, shops, WG Rec Centre, transit and park & ride. Call today! for private showing. Open house 2 -4 pm, 18th June 2017
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Please visit our Open House at 49 20881 87 AVE in Langley.
Open House on Saturday, June 3, 2017 2:00PM - 4:00PM
BEST VALUE IN KEW GARDENS! This gorgeous move-in-ready 1660 Sq. Ft. duplex 2 storey townhome with 3 bedrooms, 2.5 baths & den in most desirable Walnut Grove has an open-concept layout with 9' ceilings & dual-tone laminate flooring (no carpets). A welcoming bay kitchen has it all- a large pantry, granite countertops, stainless steel appliances, spacious cabinets & tons of natural light. A covered patio & secured backyard for entertaining. Side-by-side 2 car garage, 2 open parking & visitor parking in front of the unit is a rare find! 3 large bedrooms on the upper floor with stunning view of North Shore Mountains from master. Steps from Alex Hope,Walnut Grove Secondary, trails, shops, WG Rec Centre, transit and park & ride. CALL today! Open House June 3rd & 4th @ 2-4 pm
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Please visit our Open House at 49 20881 87 AVE in Langley.
Open House on Sunday, June 4, 2017 2:00PM - 4:00PM
BEST VALUE IN KEW GARDENS! This gorgeous move-in-ready 1660 Sq. Ft. duplex 2 storey townhome with 3 bedrooms, 2.5 baths & den in most desirable Walnut Grove has an open-concept layout with 9' ceilings & dual-tone laminate flooring (no carpets). A welcoming bay kitchen has it all- a large pantry, granite countertops, stainless steel appliances, spacious cabinets & tons of natural light. A covered patio & secured backyard for entertaining. Side-by-side 2 car garage, 2 open parking & visitor parking in front of the unit is a rare find! 3 large bedrooms on the upper floor with stunning view of North Shore Mountains from master. Steps from Alex Hope,Walnut Grove Secondary, trails, shops, WG Rec Centre, transit and park & ride. CALL today! Open House June 3rd & 4th @ 2-4 pm
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I have listed a new property at 49 20881 87 AVE in Langley.
The subject property is a beautiful, move-in-ready town home located in one of the most desirable Kew Gardens complex in Walnut Grove. It is close to the Alex Hope Elementary School, Walnut Grove Secondary School, parks, shopping, rec centre, transit and many more amenities. The town home has a spacious, open concept and efficient two-floor layout (laminate-no carpets) with 9'ceilings. The master bedroom has gorgeous views of the North Shore mountains and there are two visitor parking spot in front of the unit. In addition, the house has several recent upgrades including granite counter-tops and stainless steel appliances in the kitchen, granite counter top and cabinets in the second floor common bathroom and patio cover.
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Please visit our Open House at 49 20881 87 AVE in Langley.
Open House on Saturday, May 27, 2017 2:00PM - 4:00PM
The subject property is a beautiful, move-in-ready town home located in one of the most desirable Kew Gardens complex in Walnut Grove. It is close to the Alex Hope Elementary School, Walnut Grove Secondary School, parks, shopping, rec centre, transit and many more amenities. The town home has a spacious, open concept and efficient two-floor layout (laminate-no carpets) with 9'ceilings. The master bedroom has gorgeous views of the North Shore mountains and there are two visitor parking spot in front of the unit. In addition, the house has several recent upgrades including granite counter-tops and stainless steel appliances in the kitchen, granite counter top and cabinets in the second floor common bathroom and patio cover.
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