What does Vancouver’s office market have to offer occupiers in 2025? 

Downtown Vancouver sits at a fascinating inflection point. Vacancy is at 10.7%, gradually declining from last year’s 20-year high and trending towards pre-COVID levels, yet we continue to have the tightest office market in North America. What's particularly telling is the flight to quality, with Class A hovering at around 8% vacancy while lower-tier properties struggle at 13%. Many occupiers don't realize that over 700,000 square feet of shadow space, unlisted but available, is accessible if they choose to work with the right broker.

High-performing companies recognize that premium workspaces directly impact team dynamics and results. Landlords have responded accordingly, offering turnkey buildouts and unprecedented improvement allowances, with some exceeding $150 per square foot. Looking ahead, the window for favourable terms is narrowing quickly. Over the past 18 months, options for tenants seeking 35,000+ square feet of Class A/AAA space downtown have shrunk from 37 to just 12. With minimal new development in the pipeline, today's market will soon look like a bargain.

How has Vancouver's position in the global tech landscape evolved?

Global tech giants increasingly view Vancouver as a strategic expansion location. Our team recently helped Wayve, a leading AI company, establish their third global office here. Microsoft and Amazon have both designated Vancouver as secondary headquarters, with Amazon opening a 1.5-million-square-foot complex and Microsoft expanding into Bentall 6 in the downtown core. Additionally, Boomi, a U.S. software firm, recently opened offices at the Bentall Centre, further strengthening Vancouver's status as a tech destination.

We’ve seen remarkable growth in tech employment, with a 30.7% increase over the past five years, bringing the total number of tech workers to 98,700. This growth trajectory is reshaping how companies approach their physical space needs.

What advantages does Vancouver offer U.S. companies looking to expand northward?

Location is key. Vancouver is in the same time zone as Silicon Valley and just a 2.5-hour direct flight from San Francisco. The University of British Columbia’s top-ranked computer science program provides a talent pipeline and a competitive advantage. 

But the financial equation is what truly captures attention. The current USD to CAD exchange rate (approximately 1.44) creates substantial savings.

When a U.S.-based company looks at Vancouver, they’ll consider their real estate costs, which are typically less than 6% of their overhead, and their people costs, which make up the remaining majority. A company in New York City paying over $100 USD per square foot in rent could see that drop to just $31 USD per square foot in Vancouver – a two-thirds savings. For salaries, the average software engineer earns $93,827 CAD in Vancouver, compared to $233,855 CAD in San Francisco; that’s a 60% cost savings per hire. These real estate and talent cost savings make Vancouver remarkably attractive for high-growth operations.

What neighbourhoods outside downtown Vancouver are emerging as tech hubs?

The market has expanded well beyond the traditional core. Mount Pleasant has become a tech and creative hub, commanding $47 per square foot for Class AAA space. This area costs similar to the downtown core, $49 per square foot, as companies prioritize vibrant, non-corporate environments.

The Broadway Corridor offers exceptional value at $29 per square foot for Class AAA space and will see tremendous growth with the subway expansion and transit access. Yaletown blends creative energy with accessibility at $40 per square foot, while Gastown's historic charm remains a draw at $34 per square foot, attracting newer startups.

Each area offers distinct advantages, but the best location is one that aligns with the client’s business goals, talent strategy, and culture.

What government incentives are driving economic growth in Vancouver?

Vancouver is a city built for growth, innovation, and opportunity. The British Columbia government is making strategic investments to ensure businesses and entrepreneurs have the support they need to thrive. Investors receive a 30% tax credit for funding cutting-edge research, new technologies, and digital media. High-growth companies can tap into interest-free funding through the Business Scale-up and Productivity Program, helping them expand, hire, and innovate faster.

The Federal government has invested $6 million to create a 30,000-square-foot innovation centre focused on biotech research, while Innovate BC has directed $1.5 million toward clean tech and life sciences. These investments are helping companies turn promising ideas into real solutions, further supporting Vancouver as a hub for innovation in Canada.

How have your relationships with tech-sector founders and angel investors helped you provide value beyond traditional tenant representation services?

For me, it’s never just about finding a space; it’s about setting business owners and founders up for long-term success. I am an active participant in the tech and incubation industry, understanding the challenges they face through my own expertise outside of the average real estate broker. Innovators in the tech sector are pursuing ideas and achieving outcomes that we haven’t seen before. This creates unique challenges that require unique expertise to see the bigger picture. We need new perspectives on locations, potential clients, collaborators, and employees, as well as access to supply chains, time zones, and capital.

If clients need a great startup lawyer or accountant, I know the best. If they are looking for a recruiter to help build the team, I’ve got the connections. And when it’s time to raise that next round, I can introduce them to the right angels and venture capital organizations. I’m not just here to help them with real estate; I’m here to help them grow, scale, and succeed.

What makes your approach to tenant representation different in Vancouver's market?

I operate at the intersection of business strategy and real estate expertise. I think like an investor, act like an operator, and execute like a top-tier advisor.

Every recommendation I make to clients is tailored to specific business needs based on data and specialized market knowledge. A law firm requiring courthouse proximity demands an entirely different approach and environment than a tech startup that would thrive in Mount Pleasant. The most successful transactions address today's requirements and accommodate three to five years of projected growth. Real estate decisions impact everything from hiring and retention to productivity and capital efficiency. This is particularly true for tech companies, where workspace directly influences culture and collaboration.

I am passionate about what I do and have immersed myself in both the tech and real estate industries. Over the course of my career, I have participated in numerous industry panels and associations, conferences, and networking events. But it’s not just about the work; its about impact. I am an active volunteer with Colliers' Women's Council, CREW Vancouver, Big Brothers Big Sisters of Canada Board of Directors, Canadian Mental Health Association of BC Board of Directors, with past involvement with Mothers Against Drunk Driving, Community Volunteer Connections, My Artist's Corner, and the Greater Vancouver Board of Trade.

My clients choose to work with me because what matters to them, matters to me.