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Victoria, British Columbia, Canada

Metropolitan Area Economic Overview
Calculations for all indices were provided by SRC, LLC

Market Research provided by NAI Commercial Victoria
Last Updated: 27-Oct-2009		 Market Overview
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Market Research

* Click on each category for a detailed definition.
RENT/SF/YEAR RENT/SF/YEAR
Low High Effective Avg. Low High Effective Avg. Vacancy Investment Yield
Downtown Office
New Construction (AAA) CDN 42.00 CDN 48.00 N/A $ 43.75 $ 50.00 N/A N/A 7.5%
Class A (Prime) CDN 36.00 CDN 40.00 N/A $ 37.50 $ 41.67 N/A 1.8% 7.5%
Class B (Secondary) CDN 30.00 CDN 34.00 N/A $ 31.25 $ 35.42 N/A 5.0% 8.0%
 
Suburban Office
New Construction (AAA) CDN 38.00 CDN 42.00 N/A $ 39.58 $ 43.75 N/A N/A 7.5%
Class A (Prime) CDN 32.00 CDN 36.00 N/A $ 33.33 $ 37.50 N/A 7.0% 7.5%
Class B (Secondary) CDN 26.00 CDN 30.00 N/A $ 27.08 $ 31.25 N/A 10.0% 8.0%
 
Industrial
Bulk Warehouse CDN 10.00 CDN 12.00 N/A $ 10.42 $ 12.50 N/A 1.0% 7.0%
Manufacturing CDN 12.00 CDN 14.00 N/A $ 12.50 $ 14.58 N/A 1.0% 7.0%
High Tech / R&D CDN 12.00 CDN 18.00 N/A $ 12.50 $ 18.75 N/A 1.0% 7.0%
 
Retail
Downtown CDN 38.00 CDN 90.00 N/A $ 39.58 $ 93.75 N/A 9.0% 7.0%
Neigborhood Service Centers CDN 26.00 CDN 32.00 N/A $ 27.08 $ 33.33 N/A 5.0% 7.0%
Community Power Center CDN 24.00 CDN 28.00 N/A $ 25.00 $ 29.17 N/A 2.0% 7.0%
Regional Malls CDN 50.00 CDN 70.00 N/A $ 52.08 $ 72.92 N/A 3.0% 7.0%

Development Land Low/Acre High/Acre Low/Acre High/Acre
Office in CBD CDN 1,500,000.00 CDN 2,000,000.00 $ 1,562,500.00 $ 2,083,333.33
Land in Office Parks CDN 600,000.00 CDN 1,000,000.00 $ 625,000.00 $ 1,041,666.67
Land in Industrial Parks CDN 500,000.00 CDN 750,000.00 $ 520,833.33 $ 781,250.00
Office/Industrial Land - Non-park CDN 600,000.00 CDN 900,000.00 $ 625,000.00 $ 937,500.00
Retail/Commercial Land CDN 1,000,000.00 CDN 1,500,000.00 $ 1,041,666.67 $ 1,562,500.00
Residential CDN 400,000.00 CDN 1,000,000.00 $ 416,666.67 $ 1,041,666.67

Conversion .96CDN = 1 US$


 

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