M E T R O V A N C O U V E R | F A L L 2 0 1 8RETAIL REPORT

Neil S McAllisterPersonal Real Estate Corporation

Senior Vice PresidentD 604.630.3374

Andrea Fletcher, BCom, RISenior Associate

D 604.630.3398

Sean OgilvieVice PresidentD 604.630.3402

Russell Long, BA, DULEAssociate

D 604.630.3059

Howard MalchyPersonal Real Estate Corporation

Vice PresidentD 604.895.2226

Maria FaylogaRetail Coordinator

D 604.630.3375

604.684.7117Lee & Associates Vancouver

MARKET OVERVIEW & TRENDSMETRO VANCOUVER | FALL 2018

DOWNTOWN VANCOUVER MARKETSTREET SEGMENT TREND NET RENT PSF

2018*TAX & CAM

2018*STREET SEGMENT TREND NET RENT PSF

2018*TAX & CAM

2018*

Alberni Street p $150 – $300 $25 – $50 Robson Street (Beatty to Burrard) p $50 – $235 $20 – $45

Burrard Street (Georgia to Davie) $40 – $200 $15 – $40 Robson Street

(Bute to Denman) q $50 – $120 $20 – $40

Davie Street p $30 – $65 $15 – $20 Abbott Street (Expo to Hastings) $30 – $50 $15 – $25

Denman $40 – $75 $20 – $30 Gastown p $25 – $90 $15 – $25

Granville Street (Downtown) p $40 – $150 $15 – $30 Railtown p $15 – $25 $8 – $14

Hornby Street $45 – $180 $20 – $50 Yaletown p $40 – $95 $20 – $30

Robson Street (Burrard to Bute) $120 – $250 $50 – $65 West Georgia p $35 – $175 $20 – $35

*Estimated

MARKET FORECAST INDICATORSMETRO VANCOUVER

INDICATOR TREND

Vacancy

Net Absorption

New Development p

Rental Rates p

Cap Rates q

RETAIL INVESTMENT SNAPSHOT (JAN - AUG)METRO VANCOUVER

2017 2018 TREND

Number Of Trades* 180 117 q

Transaction Volume* (CAD) $2.440 Billion

$0.915 Billion q

*Number of trades and transaction volume are based on trades over $1 Million

Source: Realnet, Lee & Associates Research

VANCOUVER MARKETSTREET SEGMENT TREND NET RENT PSF

2018*TAX & CAM

2018*STREET SEGMENT TREND NET RENT PSF

2018*TAX & CAM

2018*

Commercial Drive (Venables to 13th Ave) p $30 – $45 $10 – $15 Chinatown p $25 – $50 $10 – $15

South Granville (5th Ave to 16th Ave) $30 – $90 $20 – $35 West 4th Avenue

(Burrard to Alma) p $30 – $85 $15 – $25

Kingsway $15 – $35 $10 – $15 West Broadway(Main to Granville) p $30 – $65 $10 – $20

Main Street (Hastings to 28th Ave) p $20 – $55 $10 – $15 West Broadway

(Granville to Alma) $30 – $55 $15 – $20

Cambie Street (2nd Ave to 19th Ave) p $30 – $75 $15 – $30 East Hastings Street p $20 – $40 $10 – $15

Burrard Street p $35 – $55 $15 – $20 Fraser Street(Kingsway to King Edward) p $25 - $35 $10 - $15

Dunbar Street p $30 – $55 $15 – $60 Kerrisdale p $30 – $55 $15 – $20

East Broadway p $25 – $35 $10 – $15 Victoria Drive p $20 – $35 $8 – $15*Estimated

leevancouver.com

NOTABLE RETAIL SALE TRANSACTIONS PROPERTY ADDRESS | NAME MUNICIPALITY PRICE SIZE (SF) PRICE/SF PURCHASER(S) CAP RATES

Starlight Casino New Westminster $103,395,248 149,620 $691 Mesirow Financial -

2211 West 4th Avenue Vancouver $80,500,000 64,381 $1,250 Bonnis Properties 4.09%

Richmond Centre (50% Interest) Richmond $69,783,066 790,000 $88 AIMCo -

Sumas Mountain Village Abbotsford $65,800,000 93,583 $703 GWL Realty Advisors 4.35%

Guildford Place Mall Surrey $38,000,000 49,625 $766 Guildford Mall Holdings Limited -

The Hub Vancouver $36,000,000 19,557 $1,841 Translink 3.7%

1162- 1170 Bute Street Vancouver $18,000,000 12,624 $1,426 Golco Properties 3.1%

3083 Grandview Highway* Vancouver $6,785,000 11,089 $612 Source Office Furniture 2.85%

2166 West 4th Avenue* Vancouver $4,075,000 3,000 $1,358 Bonnis Properties 2.9%*Brokered by Lee & Associates

NOTABLE RETAIL LEASE TRANSACTIONS PROPERTY ADDRESS | NAME MUNICIPALITY TENANT SIZE (SF)

1142 Alberni Street* Vancouver Oliver Peoples Eyewear 735

850 Granville Street* Vancouver Exclucity Life 2,100

1164 Robson Street Vancouver Thinka 4,323

32451 South Fraser Way* Abbotsford Bulk Barn 5,100

3204 West Broadway Street* Vancouver Hai Di Lao Hot Pot 5,759

1001 West Broadway* Vancouver Privé 7,000

1033 Robson Street Vancouver Indigo 29,000

13821 103rd Avenue* Surrey Steve Nash Fitness World 31,000

Kings Crossing | 7350 Edmonds Street* Burnaby Crunch Fitness 31,310

The Amazing Brentwood | 4567 Lougheed Hwy Burnaby Sporting Life 44,000

Lansdowne Centre Richmond T&T Supermarket 70,000 *Brokered by Lee & Associates

#200 - 1001 West Broadway, Vancouver | PrivéTenant Proposed Rendering

2166 West 4th Avenue, Vancouver

LEASED

SOLD

This report should not be relied upon as a basis for entering into transactions without seeking specific, qualified, professional advice. Whilst facts have been rigorously checked, Lee & Associates can take no responsibility for any damage or loss suffered as a result of any inadvertent inaccuracy within this report. Information contained herein should not, in whole or part, be published, reproduced or referred to without prior approval. Any such reproduction should be credited to Lee & Associates.

© 2018 Lee & Associates Commercial Real Estate (BC) Ltd.

LEE & ASSOCIATES VANCOUVER | 475 West Georgia Street, Suite 800 Vancouver, BC V6B 4M9 | 604.630.3405 | leevancouver.com

RICHMOND FREEWAY

TRANS-CANADA HWY

LOUGHEED HWY

BARNET HWY

BARNET HWY

UPPE R LEVELS HWY

AN

NA

CIS

HIG

HW

AY

WaterfrontBurrard

GranvilleStadium

Main St.

Broadway

Joyce

Patterson

Metrotown

RoyalOak

Edmonds

22nd St.

NewWestminster

Columbia

Scott Road

Gateway

Central

King George

Nanaim29th Ave.

VCC-Clark

Richmond-Brighouse

Lansdowne

Aberdeen

YVR-AirportTempleton

BridgeportSea Island

Centre

Marine Drive

Langara-49th Avenue

Oakridge41st Avenue

King Edward

Broadway-City Hal

OlympicVillage

VancouverCity Centre

Yaletown-Roundhouse

RenfrewCommercial RupertGilmore Brentwood

Holdom

Sperling

Lake CityUniversity

Lougheed

Braid

Sapperton

Surrey

MATSQUI

CLAYBURN

HUNTINGDON

NORTHPOPLAR

ABERDEEN

BRADNER

MT. LEHMAN

ABBOTSFORD

CLEARBROOK

HATZIC

WEST HEIGHTS

DEWDNEY

HARRISON MILLS

AGASSIZ

HARRISONHOT SPRINGS

GREENDALE

VEDDERCROSSING

SARDIS

CHILLIWACK

HOPINGTONMURRAYVILLE

BROOKSWOOD

GLEN VALLEY

FORT LANGLEY

FOREST KNOLLS

MILNER

WALNUTGROVE

DOUGLAS

PORTKELLS

ANNIEDALE

GUILDFORD

WHALLEY

CLOVERDALESURREYCENTRE

SULLIVAN

PANORAMA RIDGE

SUNNYSIDE

STAVE FALLS

STEELHEAD

RUSKINWHONNOCK

YENNADON

WEBSTERSCORNER

ALBION

HANEY

PORTHAMMOND

ALDERGROVE

ANMORE

LADNER

TSAWWASSEN

BEACHGROVE

STEVESTON

QUEENSBOROUGH

KERRISDALE

KITSILANO

FRASERVIEW

WESTPOINT GREY

DUNBAR

MARPOLE

OAKRIDGE

COLLINGWOOD

SAPPERTON

EDMONDS

METROTOWN

CAPITOLHILL

WESTRIDGE

COQUITLAMCENTRE

BURQUITLAM

MAILLARDVILLEMARYHILL

DEEPCOVE

YARROW

ROSEDALE

LYNNVALLEY

AUSTIN HEIGHTS

NEWTON

SOUTHWESTMINSTER

FRASER HEIGHTS

MISSION CITY

Matsqui

Island

CrescentIsland

IslandMcMillan

IslandBarnston

Island

Douglas

Island

Westham

IslandAnnacis

Island

Sea

MitchelIsland

TilburyIsland

WESTVANCOUVER

42,473

NORTHVANCOUVER

85,935

CITY OFNORTH VANCOUVER

52,898

RICHMOND198,309

DELTA102,238

BURNABY232,755

VANCOUVER631,486

COQUITLAM139,284

NEWWESTMINSTER

70,996

PITTMEADOWS

18,573

PORTCOQUITLAM

58,612

PORTMOODY33,551

ANMORE1,496BELCARRA

716

SURREY517,887

MAPLE RIDGE82,256

MISSION38,833

ABBOTSFORD141,397LANGLEY

143,173

CHILLIWACK83,788

KENT

WHITE ROCK19,952

TSAWWASSEN21,588

M E T R O V A N C O U V E R | F A L L 2 0 1 8RETAIL REPORT

*PCensus 2016

MUNICIPALITY POPULATION* MED. AGE* AVG. INCOME**

Coquitlam 139,284 40.2 $93,837

Port Moody 33,551 39 $112,027

Port Coquitlam 58,612 39.7 $95,644

Pitt Meadows 18,573 41 $100,073

Mission 38,833 40 $88,316

Maple Ridge 82,256 40.1 $98,885

City of Langley 25,888 42.5 $70,629

District of Langley 117,285 40.2 $107,658

Abbotsford 141,397 39.9 $88,362

Chilliwack 83,788 40.8 $82,311

METRO VANCOUVER DEMOGRAPHICSMUNICIPALITY POPULATION* MED. AGE* AVG. INCOME**

Vancouver 631,486 41.6 $93,947

West Vancouver 42,473 47.4 $196,133

City of North Vancouver 52,898 42.1 $88,248

District of North Vancouver 85,935 41.9 $144,432

Burnaby 232,755 41.1 $83,223

New Westminster 70,996 41.8 $79,968

Richmond 198,309 42.2 $83,850

Delta 102,238 42.4 $111,760

Tsawwassen 21,588 47 $127,956

White Rock 19,952 52.4 $89,992

Surrey 517,887 39 $93,586