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Office space and office building development in Greater Victoria/south Vancouver Island


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#321 Mike K.

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Posted 27 April 2021 - 12:39 PM

But the experts said 2020 was the year of the tenant!?

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#322 spanky123

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Posted 28 April 2021 - 04:08 PM

But the experts said 2020 was the year of the tenant!?

 

It was but BC Housing has been scooping every available unit on the market so that they can give them for free to the homeless!


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#323 Nparker

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Posted 28 April 2021 - 04:12 PM

On the plus side, BC housing is making the owners of several third rate hotels wealthier than they ever imagined.


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#324 Victoria Watcher

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Posted 28 April 2021 - 04:20 PM

On the plus side, BC housing is making the owners of several third rate hotels wealthier than they ever imagined.

 

including robin kimpton.


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#325 Victoria Watcher

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Posted 03 May 2021 - 04:49 PM

$16,500,000

 

 

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Fully occupied office building with long term government leases. Underground secure parking. The building occupies a key corner on the periphery of the downtown core in an area of rapid transition towards high density uses. The downtown area plan indicates that a redevelopment to 5.5 to 1 in the future would be supportable. Site size is approximately 25,526 sf.

 

https://www.realtor....ctoria-downtown



#326 Mike K.

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Posted 03 May 2021 - 04:57 PM

Is that photo a decade old? Certainly pre-2015.

There also appears to be a security guard on the corner taking a peek beyond the cover of the bush.

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#327 Jackerbie

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Posted 03 May 2021 - 05:22 PM

Is that photo a decade old? Certainly pre-2015.

There also appears to be a security guard on the corner taking a peek beyond the cover of the bush.


...how long ago did Telus remove that payphone beside the bus stop?

#328 Nparker

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Posted 03 May 2021 - 05:30 PM

...how long ago did Telus remove that payphone beside the bus stop

Probably around the time the homeless were supplied with free* cell phones.

*well free to them, taxpayers still have to cover the cost



#329 Mike K.

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Posted 03 May 2021 - 06:04 PM

Good eye!

Could we be looking at a photo taken circa 2005?

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#330 Victoria Watcher

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Posted 03 May 2021 - 06:12 PM

this sign appeared just before May, 2015.

 

 

2017:

 

 

payphone is there in 2011:

 

 

 

 

 


Edited by Victoria Watcher, 03 May 2021 - 06:18 PM.


#331 Mike K.

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Posted 03 May 2021 - 06:32 PM

Perfect.

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#332 spanky123

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Posted 04 May 2021 - 07:27 AM

Is that photo a decade old? Certainly pre-2015.

There also appears to be a security guard on the corner taking a peek beyond the cover of the bush.

 

Wonder what the annual cost for feces, condom and needle removal is?



#333 Victoria Watcher

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Posted 20 May 2021 - 03:25 PM

775 Topaz

 

$5,400,000

 

The Subject Property represents an opportunity to acquire a well-maintained office building, featuring recent capital updates and a dedicated underground parkade. The Subject Property is situated nearby Douglas Street (TransCanada Highway), and Blanshard Street (Hwy 17), two essential thoroughfares in the Greater Victoria area. -Well-maintained two-storey office building with underground parkade and elevator access to all three levels -Recent capital updates include replacement of the roof in 2015 and HVAC in 2012 -Neuromotion Physiotherapy + Rehabilitation occupies the entire main floor by a 10-year NNN lease expiring March 2029, with rental escalations throughout -Secure underground parkade with 13 parking stalls, storage rooms and fenced / gated area well suited for a bike room -Excellent opportunity for an Owner-User and / or Investor to take possession on the second floor suite -Well-suited for Professional Offices/Services, Medical Uses, Law Firms, Architects, Real Estate Offices, and more -Located nearby Douglas Street (Trans-Canada Hwy) and Blanshard Street (Hwy 17), providing excellent connectivity through Victoria, Langford, and other surrounding cities (24107886)

 

https://www.realtor....ctoria-hillside


Edited by Victoria Watcher, 20 May 2021 - 03:25 PM.


#334 Citified.ca

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Posted 30 June 2021 - 11:45 AM

Big news for YYJ tech:

 

Ontario tech firm Plexxis relocating headquarters to Langford; 60,000 square foot office now under construction

https://victoria.cit...r-construction/


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#335 Victoria Watcher

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Posted 29 July 2021 - 05:16 AM

Fantastic opportunity to purchase the assets of a very profitable commercial tire business with an extensive local client list. The offering includes all vehicles, equipment, shop, client list and training to take over this turn key business. Inventory is extra. Financials and list of assets available to qualified purchasers.

 

https://www.realtor....470001/langford

 

$500,000 - address unavailable



#336 Victoria Watcher

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Posted 29 July 2021 - 05:19 AM

$2,950,000

 

882999_1.jpg

 

The Subject Property presents a rare opportunity to acquire a parcel in a highly desirable location within Victoria's densifying and evolving downtown city-centre. The Subject Property is adjacent to the Johnson Street Parkade, and nearby existing and future residential and commercial high-rise developments, all of which are furthering the gentrification of the immediate neighbourhood. Street-Front Two-Storey Commercial Building Well-located, two-storey commercial building with 60 feet of frontage on Johnson Street, 8972 SF of rentable area comprised of 4597 SF of ground floor and 4375 SF second floor. Existing short-term leases offer opportunity to add-value and increase the income through repositioning and re-tenanting. Located within Downtown Victoria's Core Area Plan The Subject Property is situated within the Downtown Core Area, which aims to remain as the Captial Region's primary economic, social, arts, cultural, and entertainment centre.

 

The Suject Property is designated for up to 24 stories in height and support up to 6.0XFSR with permitted uses such as: commercial institutional and mixed-use buildings oriented to the street.

 

Strength of Immediate Area Strategically located along Pandora Avenue and Johnson Street, two essential thoroughfares connecting downtown to Victoria's surrounding communities, and is walking distance to essential amenities such as grocery, retail, restaurants, financial and medical services, civic centres, attractions, and parks. Strong Demographics The Subject Property is located within the centre of Downtown Victoria's core, which has experienced a 10% growth rate since 2015 and is positioned to capitalize on the continued growth through mid to high-rise developments. 

 

https://www.realtor....ctoria-downtown


Edited by Victoria Watcher, 29 July 2021 - 05:21 AM.


#337 Victoria Watcher

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Posted 12 October 2021 - 04:22 AM

Demand from Greater Victoria’s tech industry filling office supply

Businesses looking to suburban markets to find space

 

Greater Victoria’s swelling tech industry is fueling a demand on suburban office space that could soon outpace supply.

 

Nearly half (43 per cent) of the office space under construction in just four of Greater Victoria’s suburban markets (Langford, Colwood, View Royal and Sooke) have already been pre-leased, according to real estate market analysts CBRE Group’s first-ever Victoria office report.

 

As average office rent fell 2.1 per cent and drove demand throughout the 2021 fiscal year, office vacancy rates throughout Greater Victoria fell to 6.8 per cent.

 

 

 

https://www.vicnews....-office-supply/


Edited by Victoria Watcher, 12 October 2021 - 04:23 AM.


#338 Mike K.

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Posted 12 October 2021 - 07:13 AM

What office space is underway in Sooke for there to lease?

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#339 spanky123

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Posted 12 October 2021 - 11:47 AM

What office space is underway in Sooke for there to lease?

 

I think that the article is misleading. The office space being built in Westshore / Sooke is for the most part purpose built for a specific tenant. There is often extra space that is available for lease but the article makes it sound like there is surging demand.

 

I live downtown and there has been little if any noticeable increase in office workers returning. That may not yet be translating into terminated or non-renewed leases but nobody I know of is thinking they need more space.



#340 Mike K.

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Posted 12 October 2021 - 02:40 PM

There’s no office space being built in Sooke, or View Royal, period. Is there any in Colwood? It’s all light industrial leasing at the moment.

But that’s not quite right on the purpose-built reference. Only one project will be anchored by its owner, and that’s the Westhills one, and it has 60% of its space for lease. Two on Leigh Road are coming, one already underway and the other nearly underway. The Leigh road projects have a lot of pre-leased inventory, with the Leigh Road at Goldstream project pre-leased to a real-estate firm but it didn’t start that way as a concept, and the one at Henry Eng is partially leased, and may be owned by one of the tenants but I can’t remember. The downtown Langford one was built on spec and should be completing soon. The office where the province opened its flex space was built on spec, too, and sat empty for a while.

In recent years the only true purpose built offices have been built in the City of Victoria with 750 Pandora and Capital Park 1 & 2. The others were built with specific tenants in mind (1515 Douglas; Press Building), or by their owner-tenants (BC Ferries; soon Telus). So if there’s a purpose-built modern office market in the region, it’s actually in downtown Victoria, not the West Shore.

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