First Movers Q4 2024 – 10 Notable Office Lease Transactions 

Floorspace is proud to present our Q4 2024 update on notable office leasing activity in Vancouver, British Columbia. 

We have highlighted First Movers over the past quarter – companies who have made a commitment to move, sublease, expand their footprint or renew their leases. 

Notable Office Leases in Downtown Vancouver 

1. Connor, Clark & Lunn Financial (CC&L) at 1090 West Pender Street (Bentall 6) 

• Relocation from 1111 West Georgia Street to five floors at Bentall 6, covering approximately 81,747 square feet, marking one of Vancouver’s largest deals in 2024. 
• Headquartered in Toronto, CC&L Financial Group Ltd is a top-tier investment management firm, specializing in a diverse range of traditional and alternative investment solutions for individuals, institutional clients, and financial advisors.  
• 1090 West Pender Street is co-owned by the BGO Prime Canadian Property Fund and Toronto-based OPTrust, one of Canada’s largest pension funds. 

2. Sony Pictures Imageworks at 658 Homer Street (The Post) 

• Relocation from the fifth floor of CF Pacific Centre to the fourth floor at The Atrium space within The Post, occupying approximately 52,315 square feet.
• Sony Pictures Imageworks (SPI), headquartered in Vancouver, is an Academy Award-winning studio specializing in realistic visual effects, dynamic character and creature animation, and full-CG productions.
• SPI has worked on numerous high profile projects such as The Spider-Man series, Hotel Transylvania series, Thor: Love and Thunder, The Marvels, The Angry Birds and many more. 
• 658 Homer Street, also known as The Post, is owned by QuadReal Property Group and is also home to Amazon in Vancouver. 

3. AtkinsRéalis at 733 Seymour Street 

• New sublease for approximately 32,000 square feet on the 13^th and 14^th floor. 
• AtkinsRéalis is a Montreal-based global engineering and design consultancy firm that provides services across various sectors, including infrastructure, transportation, energy, and urban development.  
• 733 Seymour Street, also known as Vancouver Centre II, is owned by GWL Realty Advisors. 

4. ILSC Education Group at 1205 Melville Street 

• New lease for approximately 20,072 square feet. 
• With over 100 years of experiences, Vancouver-based ILSC is a global leader in language education and vocational training, offering diverse programs across Australia, Canada, the USA, and India.
• ILSC and its partner Greystone College will open a new, modern campus at 1205 Melville Street in Q2 2025. The space was previously occupied by BroadbandTV.
• 1205 Melville Street is owned by Pinnacle International.  

5. Shape Properties at 1090 West Pender Street (Bentall 6) 

• New sub-sublease for approximately 20,051 square feet. 
• Shape is a Vancouver-based real estate investment, development, and management company, offering full-cycle integrated project delivery with in-house expertise in architecture, interior design, marketing, leasing, finance, construction, and legal services.
• The company’s portfolio includes major residential and commercial projects such as The Amazing Brentwood, The City of Lougheed, and CF Richmond Centre. 
• 1090 West Pender Street is co-owned by the BGO Prime Canadian Property Fund and Toronto-based OPTrust, one of Canada’s largest pension funds. 

6. D3 Security at 1075 West Georgia Street 

• New sublease for approximately 13,471 square feet in unit 300. 
• D3 Security is a Vancouver-based cybersecurity firm specializing in Security Orchestration, Automation, and Response (SOAR) solutions that automate incident response and integrate with security tools.
• D3 Security was recently selected as one of the finalists for the 2024 BC Export Awards under the Advancing Technology category.
• 1075 West Georgia, also known as Arthur Erickson Place, is co-owned by KingSett Capital, Crestpoint Real Estate Investments and Reliance Properties.

7. Softchoice at 200 Granville Street 

• New sublease for approximately 12,278 square feet in unit 400. 
• Headquartered in Toronto, Softchoice is a technology solutions provider specializing in cloud services, cybersecurity, and IT asset management. 
• Announced on Dec. 31, 2024, Softchoice will be acquired by US-based World Wide Technology for CA$1.8 billion and will be delisted from the Toronto Stock Exchange. The anticipated close date is scheduled for Q2 2025. 
• 200 Granville Street, also known as Granville Square, is owned and managed by Cadillac Fairview. 

8. Jim Pattison Developments Ltd. at 1177 West Hastings Street 

• New lease for approximately 11,914 square feet on the 25^th floor. 
• Based in Vancouver, Jim Pattison Developments is a leading real estate development and investment company specializing in property development, management, leasing, and acquisitions across commercial, residential, and industrial sectors.  
• The company’s notable projects include One Burrard Place and M6 on Main & Sixth. 
• 1177 West Hastings Street, also known as the Board of Trade Tower, is currently owned and managed by Golden Properties. 

Notable Office Leases in Vancouver Periphery

9. Nicola Wealth at 1477 West Broadway 

• Relocation of headquarters from 1508 West Broadway, covering approximately 38,142 square feet across two floors (Floor 7 & 8). Fixturing is set to commence later this year.
• Nicola Wealth Real Estate, the real estate division of Nicola Wealth Management Ltd., is a Vancouver-based investment firm with a diversified portfolio of residential, commercial, and industrial properties. 
• 1477 West Broadway is owned and managed by PCI Developments. 

10. O2E Brands at 887 Great Northern Way 

• Renewal for approximately 36,885 square feet on the third floor. 
• O2E Brands is a Vancouver-based consulting company that helps individuals achieve business ownership through franchise opportunities with home service brands like 1-800-GOT-JUNK?, WOW 1 DAY PAINTING and Shack Shine.  
• 887 Great Northern Way, also known as Discovery Parks, is owned and managed by Low Tide Properties. 

According to CBRE’s latest report, overall office vacancy in Metro Vancouver increased by 30 basis points to 11.2% at the close of the year (compared to 10.9% in Q3 2024). However, there were contrasting trends between suburban and downtown markets, with suburban vacancies rising by 80-basis points, while downtown saw a 30-basis point decrease. Downtown Vancouver recorded a positive absorption of about 76,396 square feet and no new supply, while suburban regions added 218,350 square feet, mainly at Kaslo at Renfrew District. Sublet vacancy decreased by 1.9% after a Q3 2024 uptick from large block vacancies in new builds, reflecting a shift by companies toward flexible spaces in prime locations. 

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The information above was obtained from sources deemed reliable (including quarterly reports from CBRE, Colliers, Cresa, Cushman Wakefield & NAI), however, its accuracy cannot be guaranteed. All figures, including square footage are approximate.