Posted Feb 19, 2015, 4:38 AM
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Reason and Freedom
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Join Date: Jul 2009
Location: Vancouver/Toronto
Posts: 4,016
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Today, in Business in Vancouver:
Quote:
Anvil weighs down New West office market
A shiny new – and totally empty – office tower is proving an anvil-like weight on the New Westminster commercial market. Built on speculation by the City of New Westminster and sold to investors a year ago, the 14-storey tower has failed to attract a single tenant.
The 137,000 square feet of vacant space in the Anvil Centre, now owned by CRS Group of Companies and Joseph Segal of Kingswood Capital Corporation, has driven the New Westminster office sector into negative territory for the first time in 10 years and the vacancy rate to the second-highest level in Metro Vancouver.
The city’s office vacancy rate is now 16.8% and more than a quarter of Class A space in the Royal City is dark, according to an Avison Young survey...
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Full Story: http://www.biv.com/article/2015/2/anvil-weighs-down-new-west-office-market/
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