Apple eyes expansion in downtown Vancouver: report

Bloomberg reports Apple Inc. will take up two storeys at new downtown development

Vancouver’s notoriously low office vacancy rate doesn’t look to be easing up any time soon.

Citing sources, Bloomberg reports Apple Inc. plans to take up two storeys at Westbank Corp.'s new development at 400 West Georgia Street.

article continues below

The tower, still under construction, sits across from the old Canada Post building where Amazon.com, Inc. is planning to take up 416,000 square feet in the redeveloped site as it adds 3,000 workers in the coming years.

Apple did not respond to an inquiry from Business in Vancouver.

A report released earlier this week by real estate services firm CBRE reveals Vancouver surging as a top destination for tech companies.

This year the city jumped 13 spots to No. 12 when ranked against 50 North American markets, according to the 2019 Scouting Tech Talent report.

CBRE Vancouver vice-president Jason Kiselback told BIV tech giants along the West Coast are being increasingly drawn to Vancouver due to the low cost associated with operating a business.

Average sector wages are relatively low in Vancouver — $80,857 compared with $169,461 in San Francisco — keeping costs down, while average rent is pegged at $3.27 million per 75,000 square feet.

CBRE found that Vancouver was the second-cheapest city in which to operate among 50 markets analyzed.

torton@biv.com

@reporton

Click here for original article.

Read Related Topics

Comments

NOTE: To post a comment you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Google+ You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Vancouver Courier welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

comments powered by Disqus

Popular Vancouver Courier

Sign Up For Our e-Newsletter!
Find the Vancouver Courier Newspaper