Real Estate News 
In the first installment of our quarterly update on notable office leasing activity in Vancouver, we’ve highlighted the First Movers over the past quarter – companies who made a commitment to move, expand their footprint or renew their leases.
Q3 2021 was a busy quarter in Vancouver for leasing activity. Most large commercial real estate firms noted that Q3 brought the first drop in vacancy rates since the start of the pandemic.
A large portion of the demand from tenants focused on companies expanding their footprints, with a preference for high-quality spaces. These spaces were located in a mix of new buildings, improved and recently vacated spaces, as well as subleases that offered the opportunity to spend comparatively less time and capital prior to occupancy.
Office Leases in Downtown Vancouver – Q3 2021
1. Animal Logic at 888 Cambie Street
- 28,000 square feet
- Expansion of existing studio space
- Current studio located at 840 Cambie Street
- Property owned by local Vancouver family
2. BDC at 1133 Melville Street (The Stack)
- 16,700 square feet on a single floor
- Brand new building under construction
- AAA quality office project with high-end amenity offering
- Owned and developed by Oxford Properties
3. Microsoft at 725 Granville Street (Pacific Centre)
- 48,000 square feet on a single floor
- Formerly occupied by law firm Miller Thomson
- Marks Microsoft’s second expansion at 725 Granville in 12 months
- Property owned and managed by Cadillac Fairview
4. PayByPhone at 1290 Homer Street
- 23,000 square feet over 4 floors
- Heritage revitalization project
- Owned by a local Vancouver family
5. Smoking Gun Interactive at 333 Seymour Street
- 11,000 square feet
- Sublease from a local company
- Building owned and managed by PCI Group
- Adjacent to the 601 West Hastings Development
6. Sprung Studios at 1500 West Georgia Street
- 9,000 square feet
- Subleased from a local company
- Property owned by Bosa Commercial
7. Workday at 601 West Hastings Street
- 27,000 square feet over 3 floors
- Anchor lease in the new development
- Developed and owned by PCI Group
Office Leases in Vancouver Periphery – Q3 2021
8. Electronic Arts at 1077 Great Northern Way
- 120,000 square feet
- Full building lease
- Former MEC headquarters
- Owned by Low Tide Properties
9. LaSalle College at 2710 Kaslo Street
- 110,000 square feet
- Expansion from neighbouring property
- Entire purpose-built building
- Developed by Molnar Group
10. Precision NanoSystems at 1055 Vernon Drive
- 77,000 square feet
- New project named Evolution Block
- Nicola Wealth Real Estate developed in partnership with PC Urban
Follow along with Tech Office as we highlight notable leases that are completed in each quarter.
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Notable leases above were listed in alphabetical order, in their respective sub-markets. The information above was obtained from sources deemed reliable (including quarterly reports from commercial real estate brokerages), however its accuracy cannot be guaranteed. Square footages are approximate.
