Office Tenants in Vancouver Flocking to Transit

In a pattern being repeated across Canada's major cities, office tenants are willing to pay a premium to be located close to transit in Vancouver and buildings located only a few blocks away or in suburban office parks are seeing a rise in vacancies.

1 minute read

June 12, 2012, 2:00 PM PDT

By Jonathan Nettler @nettsj


Frances Bula describes the findings of two new studies conducted by the real estate services firm Jones Lang Lasalle, that look at the importance of transit in the Vancouver market.

According to Bula, "The latest of their [JLL's] 'rapid transit office index' reports concluded that tenants are willing to pay considerably more to get into a similar building that's closer to transit."

"The statistics-stuffed report concluded that tenants will pay a 22-per-cent premium in Vancouver, Surrey and Burnaby, three of the largest office markets, to be within 500 metres of a transit station. As well, vacancy rates for buildings outside that 500-metre range can go up to 25 per cent higher than a transit-oriented building in the same suburb."

Desperate business parks are increasingly providing shuttles to the nearest transit station to try to retain tenants.

"What we are hearing from tenants most often these days is that priority one is access to transit and it can't even be a walk down the street," says Brett Miller, president of Jones Lang Lasalle Real Estate Services in Canada.

Thanks to Brent Toderian

Monday, June 11, 2012 in The Globe and Mail

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Aerial view of town of Wailuku in Maui, Hawaii with mountains in background against cloudy sunset sky.

Maui's Vacation Rental Debate Turns Ugly

Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.

July 1, 2025 - Honolulu Civil Beat

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 2, 2025 - Diana Ionescu

White and purple sign for Slow Street in San Francisco, California with people crossing crosswalk.

San Francisco Suspends Traffic Calming Amidst Record Deaths

Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.

July 1, 2025 - KQED

Google street view of red brick multi-story power plant building in Pittsburgh, PA.

Defunct Pittsburgh Power Plant to Become Residential Tower

A decommissioned steam heat plant will be redeveloped into almost 100 affordable housing units.

July 4 - Pittsburgh Post-Gazette

Cyclist on protected bike lane in middle of street in Washington D.C. with Washington Monument obelisk visible in background.

Trump Prompts Restructuring of Transportation Research Board in “Unprecedented Overreach”

The TRB has eliminated more than half of its committees including those focused on climate, equity, and cities.

July 4 - Streetsblog USA

Blue and silver Amtrak train at small station.

Amtrak Rolls Out New Orleans to Alabama “Mardi Gras” Train

The new service will operate morning and evening departures between Mobile and New Orleans.

July 3 - New Orleans City Business