Vancouver, BC
BOMA
Space Measurement Standard
Space Unit of Measure
CAD
- Convert currency to:
- ALL - Albanian Lek
- ARS - Argentine Peso
- AUD - Australian Dollar
- BRL - Brazilian Real
- BGN - Bulgarian Lev
- CAD - Canadian Dollars
- CLP - Chilean Peso
- CNY - Chinese Yuan Renminbi
- COP - Colombian Peso
- CRC - Costa Rican colón
- HRK - Croatian Kuna
- CZK - Czech Koruna
- DKK - Danish Krone
- EGP - Egyptian Pound
- AED - Emirati dirham
- EUR - Euro
- HKD - Hong Kong Dollar
- HUF - Hungarian Forint
- INR - Indian Rupee
- IDR - Indonesian Rupiahs
- ILS - Israeli new shekel
- JPY - Japanese Yen
- KRW - Korean Won
- MXN - Mexican Peso
- MAD - Moroccan Dirham
- TWD - New Taiwan Dollar
- NOK - Norwegian Kroner
- PAB - Panamarian Balboa
- PEN - Peruvian Sol
- PLN - Polish Zloty
- GBP - Pound Sterling
- RON - Romanian Leu
- SAR - Saudi riyal
- RSD - Serbian Dinar
- ZAR - South African Rand
- SEK - Swedish Krona
- CHF - Swiss franc
- THB - Thai Baht
- TRY - Turkish Lira
- UAH - Ukrainian Hryvnia
- USD - US Dollars
Financial Data Currency
N/A
Transfer Taxes
Office Occupier Market Condition
Occupier Market Conditions – How conducive is the regulatory environment to starting and operating a business. Source: Colliers
Labor Cost – Wages for skilled office workers. Source: City Globe and Colliers
Tenant Favorable – Assessment of the real estate market condition for office space. Source: Colliers
Typical Loss Factor
10-20%*From rentable to useable square feet
Loss Factor Notes:
*Gross up factor vs. loss factorLandlord Concessions
Fit-Out Concession
Amount of Fit-Out Concession
$30/sf-$80/sfTypical range of fit-out contribution.
Fit-Out Cost Notes:
Landlord fit-out contribution amount depends on the length of the lease.Rent-Free Period
Standard Range of Rent-Free Months
0mo.-3mo.Typical number of rent-free months.
Rent-Free Period Notes:
True free rent isn't typically provided, but a 3 month fixturing period is typical.Payment of Fees/Commissions
Lease Provisions
Lease Term
3yrs.-10yrs.Typical lease term in years.
Operating Expenses & Service Charges Included
Additional Charges
$18/sf-$26/sfEstimated range for all additional charges per Square Feet.
Additional Charges:
Service Charge Notes:
The additional charges on top of net rent is "Additional Rent" which would be operating costs and property taxes.Lease Fundamentals: The following apply to both office and industrial leases.
Lease Execution Requirements:
Requirements Notes:
2 months gross rentNegotiated Subletting/Assignment
Landlord Consent: Typically, the landlord's written consent IS still required.
Statutory Subletting/Assignment
Landlord Consent: The Landlord's consent is still required.
Blend & Extend Strategies
Statutory Early Termination
Negotiated Early Termination
Early Termination Notes:
Case by case basis.Typically equal number of anticipated months to release, unamortized TI's and commissions or 50-100% pre-paid rent. Must have a replacement tenant. If it is secured, it will include a penalty of 6-9 months + unamortized TI's and fees.
Obligations Upon Lease Expiration
Tenant Obligation Notes:
Sometimes there is an obligation for restoration and/or more.Workplace
Regional Office Space
125sf-200sfTypical Square Feet per employee (includes office square footage for employees and contractors).
Regional HQ Office Space
150sf-250sfTypical Square Feet per employee (includes office square footage for employees and contractors).
Desk Sharing
Industrial Occupier Market Condition
Occupier Market Conditions – How conducive is the regulatory environment to starting and operating a business. Source: Colliers
Labor Cost – Wages for manuafacturing and warehouse/distribution office workers. Source: City Globe and Colliers
Tenant Favorable – Assessment of the real estate market condition for industrial space. Source: Colliers
Landlord Concessions
Fit-Out Concession
Amount of Fit-Out Concession
$1/sf-$5/sfTypical range of fit-out contribution.
Rent-Free Period
Standard Range of Rent-Free Months
1mo.-3mo.Typical number of rent-free months.
Payment of Fees/Commissions
Lease Provisions
Lease Term
3yrs.-10yrs.Typical lease term in years.
Operating Expenses & Service Charges Included
Additional Charges
$3/sf-$7/sfEstimated range in total for all additional charges per Square Feet.
Additional Charges:
Lease Fundamentals: The following apply to both office and industrial leases.
Lease Execution Requirements:
Requirements Notes:
2 months gross rentNegotiated Subletting/Assignment
Landlord Consent: Typically, the landlord's written consent IS still required.
Statutory Subletting/Assignment
Landlord Consent: The Landlord's consent is still required.
Blend & Extend Strategies
Statutory Early Termination
Negotiated Early Termination
Early Termination Notes:
Case by case basis.Typically equal number of anticipated months to release, unamortized TI's and commissions or 50-100% pre-paid rent. Must have a replacement tenant. If it is secured, it will include a penalty of 6-9 months + unamortized TI's and fees.
Obligations Upon Lease Expiration
Tenant Obligation Notes:
Sometimes there is an obligation for restoration and/or more.Project Management
Section 1. Fit Cost Data
Design work, carpet tile, ceiling tile, furniture & demountable partitions. Colliers' value proposition is the extension of the global discount to our clients. It's important to provide multiple vendors for each category.
Total Fit-Out Cost
Class A Office
Class B Office
Flex Office / Warehouse
Warehouse
Total Fit-Out Cost Notes:
The fit-out cost refers to the total cost of design, construction, and installation for a space. It includes categories such as materials, labor, furniture, fixtures, equipment, finishes and other related costs. The specific factors influencing the total fit-out cost can vary widely depending on the project scope, location, size of the space, quality of materials, and complexity of design.Furniture Cost
Class A Office
Class B Office
Furniture Cost Notes:
These costs are not included in the Total Fit-Out costs.Low Voltage Cabling Cost
Class A Office
Class B Office
Low Voltage Cabling Cost Notes:
These costs are included in the Total Fit-Out costs.Other (IT/etc) Cost
Other Cost Notes:
These numbers vary depending on the client requirements and client type.Construction to Move-in Cycle Time
Class A Office
Class B Office
Cycle Cost Notes:
Depends on quality and size. The 16 weeks is an average across Canada and some jurisdictions require longer permitting time, and this is for spaces less than 25,000 sf.Section 2. Scope of Work Description
Phase 1: Services Before and During the Transaction
Phase 2: Service Before and During the Design Process
Phase 3: Services Before Construction
Phase 4: Services During Construction
Additional Services: Services During Relocation
Additional Services: Project Management Services Related to Furniture/Workstation Procurement
Operating Environment Rankings reported on a scale of 1 (least favorable) to 10 (most favorable).
Human Capital
Labor Force Growth
Labor force growth rate (past 5 years)
Wage Inflation
Rise in wages (past 5 years, local currency)
Millennials
Proportion of population in the age 20-39 cohort
High School Education Equivalent
Proportion of population attaining this level
University Education Equivalent
Proportion of population attaining this level
Overall Education
Composite average of High School & University
Human Capital Composite
Business Climate
Innovation
Presence of innovative factors in economy
Economic Risk
Resilience of economy to unexpected events
Business Environment
Friendliness of business environment
Corporate Tax Rate
Favorable corporate tax rate
Business Climate Composite
Operating Environment Composite
Combined average score of Human Capital and Business Climate factors