Yes. It's difficult to find large contiguous floorplates which happens to be what government and most larger companies are searching for. Breaking up offices between buildings (a common practice in our market) must cost a lot in lost productivity.When I asked a developer about it he said there is virtually no office space left in Victoria.
Office space and office building development in Greater Victoria/south Vancouver Island
#81
Posted 27 July 2008 - 07:40 PM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#82
Posted 27 July 2008 - 07:55 PM
#83
Posted 30 July 2008 - 11:31 AM
#84
Posted 30 July 2008 - 12:47 PM
#85
Posted 30 July 2008 - 01:05 PM
#86
Posted 30 July 2008 - 01:37 PM
#87
Posted 30 July 2008 - 02:13 PM
#88
Posted 30 July 2008 - 02:56 PM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#89
Posted 30 July 2008 - 03:08 PM
#90
Posted 29 January 2009 - 09:24 AM
New projects aren't expected to change things
Turner applauds Langford's efforts to attract new government office construction by offering 10-year tax holidays.
However, he anticipates the province will continue to keep most of its office space in the downtown core. "I don't really see that changing very much."
The region has a total of 7.9 million square feet of all types of office space. The second tier, Class B, makes up the greatest proportion, with 5.8 million square feet.
The Colliers report said vacancy rates have likely reached a low point, pushing rental rates for quality A and B space toward levels required to support new construction.
Rates for brand-new Class A office space would likely be about $45 per square foot, including taxes and operating costs, Turner said.
Downtown Victoria has 596,748 square feet of Class A office space.
In the past year, the region's office supply dropped by 20,500 square feet.
New office projects underway include: The Atrium at 800 Yates St. will create 180,000 square feet, and the first phase of the Uptown development at the Town and Country site will deliver 112,000 square feet. Dockside Green's first phase of office space will have 27,300 square feet, and a two-storey project at 732 Broughton St. will total 10,000 square feet.
-City of Victoria website, 2009
#91
Posted 29 January 2009 - 11:05 AM
I am unaware of an MoF office at Quadra and Yates - which building?
I personally think there is a lot to said for the development of office space north of downtown to reduce the commute into the centre of the city. All those car dealerships would much better be eight to ten story office buildings. Hopefully many of them will close in the next year or two and leave the land free to be used for something better.
The idea of offices in Langford is simply crazy as it will simply cause a lot more inter suburb travel for people working and will make transit less desirable for people. The centre of our region, when weighting for population, is close to the new Uptown centre.
#92
Posted 29 January 2009 - 11:09 AM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#93
Posted 29 January 2009 - 04:05 PM
I am unaware of an MoF office at Quadra and Yates - which building?
That would be the space between the Starbucks on the corner and the Apple store on the ground floor of the The Wave building. They promptly masked over the windows when they moved in in keeping with the opaque window bylaw for the 800 block of Yates.
#94
Posted 23 July 2009 - 03:28 PM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#95
Posted 11 January 2010 - 11:30 AM
#97
Posted 09 February 2010 - 11:54 AM
By VibrantVictoria.ca
http://vibrantvictoria.ca/?p=1983
Victoria’s office market fared better than many North American markets throughout 2009, according to office vacancy statistics released by Colliers International’s Victoria office.
Vacancy rates increased just 2% to 4.5% in 2009, with downtown vacancy increasing from 2% to 4% and suburban vacancy increasing to 5.1% from 3.1%. [...]
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#98
Posted 27 August 2010 - 09:49 AM
Victoria’s office market heading for vacancy spike
By Mike Kozakowski, VibrantVictoria.ca
http://vibrantvictor...-vacancy-spike/
Just a few years ago the office market in Victoria was a different story. The region was readying for a major influx of office properties as the economy, fueled by private-sector investment and a relatively stable provincial government financial outlook, roared ahead.
Multiple large-scale projects were proposed that combined, would have padded downtown Victoria’s office space by nearly half a million square feet. Unfortunately the economic slowdown of 2008, coupled with a red-hot provincial government-agenda-turned-layoff-spritz quickly put a stop to multiple projects. [...]
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#99
Posted 05 January 2011 - 11:08 PM
-City of Victoria website, 2009
#100
Posted 06 January 2011 - 07:02 AM
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