Stephen Gammer
@gammer01
Commercial realtor, proud Surrey resident, outdoor enthusiast, and favorite uncle to five.
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Just posted a photo instagram.com/p/ClvD29ku_9K/…
With #Canada's #inflationrate at 7.6% in July, do you think the #BankofCanada raising its bank rate to 3.75% is going to do much at all to slow inflation? It's in between a rock and a hard place. shorturl.at/ahDH7
Metro Vancouver’s industrial market continues to set records as the most expensive industrial land in Canada. We have an average 0.5 per cent vacancy across #MetroVancouver and a record-setting 'average' industrial lease rate of $18.09/SF in Q1 2022. renx.ca/note-caution-v…
#TsawwassenMills the 102 acre mall on a long-term lease from the #TsawwassenFirstNation was sold by #IvanhoeCambridge for $407 million to Nanaimo-based Central Walk a Chinese funded investment group.
The #Covid fueled #retail #appocolypse never really happened but winners and losers are emerging as #landlords with big foot prints are innovating and becoming mixed use developments like the @The.Amazing.Brentwood in #Buranaby. shorturl.at/rsMVW
#PortMoody Council approves #WesGroup's Coronation Park's 6 towers next to #SkyTrain bit.ly/3F47dZ1
Overall leasing Rates for #Industrial #RealEstate have increased 40 per cent in #MetroVancouver in three years with #VacancyRates now under 1%. tinyurl.com/3s3sdcb9
#Officespace and how we use it is being changed... forever. #CPA's surveyed exec's in the USA and 1 in 5 said they plan on downsizing in the next 12 months. Between 10 - 24% ! That is going to impact everyone from landlords to lenders to REITs and more. shorturl.at/agvyP
A JV between Reliance and Hines wouldn't catch my attention unless you think about it. This is about risk sharing and mitigation. With office vacancy's skyrocketing in downtown cores, this JV is done out of necessity. shorturl.at/nNVW6
#RestaurantsCanada says 10,000 #restaurants have already closed permanently and unless gov't lets restaurants open to normal capacity up to 50% may close by the end of 2021. shorturl.at/wCDFY
Bisnow reports: Lenders 'likely' to take 49% stake in Mall Of America & West Edmonton Mall as debtors stake equity positions in assets facing up hill battles from the prolonged lock downs.
#CBD #Office #Landlords: #DeadManWalking. The major catastrophe coming in offices that hasn't hit the economy ...yet. #Covid19 has caused a huge paradigm shift in how office space is used. Early signs are the sublease market vacancy rates. on.mktw.net/38FUg8E
Smart article on how #Covid19 is affecting the 4 main aspects of #CRE commercial real estate. Office: downsizing and more is coming Industrial: expanding Retail: more #ecommerce and curbside pickup Investing: the gap between buyers and sellers grows bit.ly/2ZIQcQa
#MorguardREIT a big office landlord in Canada has slashed its payouts to unit holders by 50%... again. tgam.ca/2NzrYFk Earlier this month for the first time I saw a listing from another broker advertising an office on Albernie St in Vancouver for $0.00 base rent!
#Hotel #vacancyrates in #Vancouver have plunged from 10% to 70%... yes 70% of hotel rooms in #MetroVancouver are vacant! Thanks to #Covid19. As a contrast the #Industrial vacancy rate in #MetroVan is at 1.79% bit.ly/39wyL9V
Last year I highlighted here about #Prologis opening a multi level warehouse for #Amazon in #Seattle and said it was coming here soon. Well that time has come. In #Buranby #OxfordProprties now has plans to build #Canada's first #multilevel #warehouse. bit.ly/3r8MxaU
After overshooting the market and shutting down 2 of its #BC #cannabis production facilities, #CanopyGrowth is closing more facilities in central and eastern #Canada. bit.ly/342vKwd
While I respect #CIBC's #BenjaminTal I disagree with his opinion that Canada is "buying time" and is set to take off like a rocket. He hasn't taken into account the coming tax impact of each level of government's overspending and decrease in revenues. bit.ly/2JKrNoy
#ConcordPacific goes deep into #Surrey and is approved for 2 more residential towers. Adding over 1,000 more residential units to #SurreyCityCentre. bit.ly/364Y6Y2
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