Research 
Vancouver’s office leasing market remained active in Q2 2026, but the quarter was defined by selective commitments rather than broad-based expansion.
The 15 transactions highlighted below represent approximately 260,000 square feet of leasing activity: six new leases, five renewals, two expansions and two subleases. The largest was the City of Vancouver’s 76,900-square-foot full-building lease at Fifth by Cressey, which accounted for nearly 30% of the space tracked.
Downtown activity was concentrated in renewals and targeted relocations within established Class A buildings. Outside of Downtown, Mount Pleasant and the Broadway Corridor continued to attract organizations seeking full-building, character and amenity-rich environments.
Together, the transactions point to a market in which tenants remain selective but are prepared to make meaningful commitments when the building, location and workplace experience align.
Notable Activity in Downtown Vancouver’s Office Leasing Market
1. The Keg Restaurants at 200 Granville Street – New Lease
- New direct full floor lease for approximately 12,600 square feet.
- The Keg Restaurants Ltd. operates and franchises The Keg Steakhouse + Bar across Canada and the United States; its current head office is in Richmond, BC.
- In September 2025, LFG Growth Partners — the firm of Cactus Club co-founder Richard Jaffray — acquired a stake in The Keg.
- 200 Granville Street, also known as Granville Square, is owned by Cadillac Fairview together with the Ontario Pension Board and the Workplace Safety and Insurance Board.
2. McCarthy Tétrault / RBC Dominion Securities at 745 Thurlow Street – Expansion
- Expansion of approximately 17,000 square feet combined – as two adjoining expansions.
- McCarthy Tétrault LLP is one of Canada’s largest national full-service law firms, head-officed in Toronto with offices across Canada, London, and New York; RBC Dominion Securities is the full-service investment and wealth-management arm of Royal Bank of Canada.
- 745 Thurlow Street is owned and managed by QuadReal Property Group.
3. Wētā FX at 745 Thurlow Street – Renewal
- Renewal of approximately 17,800 square feet.
- Wētā FX (formerly Weta Digital) is a world-leading visual-effects studio behind films such as The Lord of the Rings and Avatar; it is headquartered in Wellington, New Zealand.
- Wētā FX has continued its international expansion and was reported in January 2026 to be providing visual effects for Netflix’s “Narnia: The Magician’s Nephew.”
- 745 Thurlow Street is a Class A tower owned and managed by QuadReal Property Group.
4. Hunter Litigation Chambers at 1040 West Georgia Street – Renewal
- Renewal of approximately 16,400 square feet.
- Hunter Litigation Chambers is a Vancouver boutique litigation firm specializing in commercial, constitutional, regulatory, and appellate disputes.
- 1040 West Georgia Street, also known as The Grosvenor Building, is owned by Grosvenor.
5. Innergex Renewable Energy at 888 Dunsmuir Street – Renewal
- Renewal of approximately 16,400 square feet.
- Innergex Renewable Energy is an independent renewable power producer developing and operating hydro, wind, solar, and battery-storage facilities across Canada, the U.S., France, and Chile; it is headquartered in Longueuil, Quebec.
- 888 Dunsmuir Street is owned and managed by Manulife.
6. D3 Security at 1075 West Georgia Street – Renewal
- Renewal of approximately 14,800 square feet.
- D3 Security is a Vancouver-based cybersecurity software company that builds Smart SOAR (security orchestration, automation, and response) and its Morpheus autonomous SOC platform.
- In 2025, D3 expanded its AI-driven Morpheus autonomous SOC platform and showcased it at Black Hat 2025. (Source: D3 Security)
- 1075 West Georgia Street, the Arthur Erickson-designed MacMillan Bloedel Building, was acquired in 2024 by a consortium of KingSett Capital, Crestpoint Real Estate Investments, and Reliance Properties.
7. Intracorp Projects at 550 Burrard Street (Bentall 5) – Renewal
- Renewal of approximately 17,400 square feet.
- Intracorp is a Vancouver-headquartered residential real estate developer and homebuilder operating across Canada and the U.S., including Seattle, Newport Beach, and Austin.
- In its 2025 Year in Review, Intracorp reported launching new communities (Eastward and Signal), completing its 62nd City Home, and breaking ground on more than 50 properties. (Source: Intracorp Homes)
- 550 Burrard Street, also known as Bentall 5, is owned by BentallGreenOak (BGO) through its Prime Canadian Property Fund.
8. Thinkingbox at 333 Seymour Street – New Lease
- New direct lease for approximately 12,300 square feet.
- Thinkingbox is a Vancouver-founded (2007) creative and digital-experience agency producing brand experiences, digital products, and immersive work, with studios in Toronto, New York, Los Angeles, and now London. Current Vancouver office at 602 West Hastings Street.
- 333 Seymour Street, also known as Grant Thornton Place, is owned by PCI Developments.
9. Asana at 601 West Hastings Street – Expansion
- Expansion of approximately 9,300 square feet.
- Asana, Inc. is a San Francisco-headquartered enterprise work-management software company that operates a development centre in Vancouver.
- PCI Developments owns 601 West Hastings Street, a LEED Gold tower completed in 2021.
10. Thales Canada at 505 Burrard Street – New Lease
- New direct lease for approximately 9,100 square feet.
- Thales Canada is the Canadian arm of Paris-based Thales Group, providing defence, aerospace, cybersecurity, and urban-rail technology, including SkyTrain signalling in Metro Vancouver.
- In 2026, Thales Canada announced a partnership with Canadian AI firm Cohere to develop defence-focused agentic AI.
- Hudson Pacific Properties and a Blackstone affiliate together own 505 Burrard Street, part of the Bentall Centre complex.
11. Torys LLP at 980 Howe Street – Sublease
- New sublease for approximately 8,600 square feet.
- Toronto-based Torys LLP is a national business law firm with offices across Canada and in New York.
- In 2025–2026, Torys announced the launch of a new Vancouver office, anchored by litigation partners recruited from McCarthy Tétrault.
- Manulife developed and owns the tower at 980 Howe Street.
12. Iredale Architecture at 1 Alexander Street – New Lease
- New direct lease for approximately 9,500 square feet.
- Iredale Architecture is a long-established Vancouver architecture and planning firm working across institutional, commercial, residential, and heritage projects.
- The firm’s relocation into heritage space at 1 Alexander Street in Gastown is among its most recent moves. (Company)
- Low Tide Properties owns and operates 1 Alexander Street, also known as The Dunn Building.
Notable Activity in Mount Pleasant & the Broadway Corridor’s Office Leasing Market
13. City of Vancouver at 380 West 5th Avenue – New Lease
- New direct full building lease for approximately 76,900 square feet — the largest transaction of the quarter.
- The City of Vancouver is the municipal government of the City of Vancouver, British Columbia.
- In November 2025, Vancouver City Council approved a 2026 operating budget with a 0% property-tax increase. (Source: City of Vancouver)
- Cressey Development Group developed and owns 380 West 5th Avenue, marketed as “Fifth” (Fifth by Cressey).
14. JD Sports Canada at 22 East 5th Avenue – Sublease
- New sublease for approximately 11,700 square feet.
- JD Sports is a global athletic footwear and sportswear retailer; the Canadian arm is part of UK-listed JD Sports Fashion plc, headquartered in Bury, Greater Manchester.
- JD Sports launched its Canadian operations in 2025 with its first flagship on Robson Street in Vancouver and plans for roughly 17–18 stores nationwide. (Source: Business in Vancouver)
- Nicola Wealth Real Estate owns 22 East 5th Avenue, the heritage Lightworks Building redeveloped by PC Urban.
15. Tundra Technical Solutions at 114 East 4th Avenue (M2) – New Lease
- New direct lease for approximately 10,500 square feet.
- Tundra Technical Solutions, a Canadian-owned staffing and workforce-solutions firm specializing in technical, IT, and contingent talent, runs its head office out of Toronto.
- In May 2026, Staffing Industry Analysts recognized Tundra as the largest Canadian-owned staffing firm, with anticipated 2026 global revenues exceeding $1 billion. (Source: Cision)
- Spear Street Capital owns 114 East 4th Avenue, also known as M2 at Main Alley.
Suburban Office Leasing Market Activity
Suburban markets stayed busy on the renewal front even as fundamentals softened. The quarter’s largest suburban commitments were government and technology renewals: the Canada Revenue Agency renewed roughly 65,000 SF in Surrey City Centre, while in Richmond, Change Healthcare Canada (~59,200 SF) and Broadcom Canada (~51,200 SF) both renewed sizeable footprints and Planar Motor took approximately 35,000 SF of new space near the airport. In Burnaby, Crius Financial Services renewed and consolidated at Metrotower II (~28,400 SF) and Konica Minolta renewed ~17,400 SF at Willingdon Park. The tone was defensive – renewals and downsizes rather than expansion – against a backdrop of rising suburban vacancy.
Market Context: Q2 2026
According to CBRE’s Q2 2026 office leasing market report, the gap between premium and commodity space widened. Downtown Trophy/AAA vacancy held near 7.6%, and overall downtown vacancy edged down to 12.2%. Suburban vacancy rose roughly 190 basis points to 11.0% – its highest level in nearly a decade as new supply, a repositioned building, and returning sublease space (including TELUS’s space at 3777 Kingsway) added availability. The takeaway: tenants are concentrating in quality over new demand.
FOR MORE UPDATES: Subscribe to our newsletter below or follow us on LinkedIn and Instagram.
The information above was obtained from sources deemed reliable, including quarterly reports from CBRE, Colliers, Cushman & Wakefield, and NAI. However, its accuracy cannot be guaranteed. All figures, including square footage, are approximate.
