Written by:

Leland Dieno

Date:

July 14, 2019

Vancouver Is The Hottest Office Market In North America

vancouver office space

In the CBRE’s Canada Q2 Quarterly Statistics Report recent report, it’s stated that the office vacancy rate in Vancouver is only 2.6% making it the hottest office market in North America alongside Toronto.

With views and a location like this, how can you blame the tech sector and entrepreneurs from wanting to set up shop here?

In the Ministry of Jobs, Trade and Technology’s small business profile (see here) they showed the small business profile growth in BC from 2014 – 2017 by sector:

small business profile bc
 

 

 

 

 

You can see the sectors that grew substantially were Professionals in the tech space, specialty trades, health care, and real estate. They also noted high technology and tourism with significant growth.

Based on our experience here at Agency Media and the partnerships we have established we would say that we have seen this spike in net new business as well. While we often are working on campaigns, web development, or content creation for established brands, there always seems to be a startup on the go, and even when we are working with a larger organization, the initiatives they are embarking on often have an “entrepreneurial spirit”.

Fast forward to 2019 here at the Westlund Group and the launch of our new corporate offices & co-working space YOUR WORKSPACE. Our owner Andrew Westlund’s vision to create a working environment of collaboration is coming to life and we’re already seeing a diverse group of companies setting up shop.  Business is about creating relationships (my opinion) and those relationships are built on trust. What better way to create trusting relationships then sharing office space with other entrepreneurs and businesses who are pushing themselves to have an impact on their communities and globally.