Vancouver Office Figures Q4 2025

‒    The Metro Vancouver office market remained stable quarter-over-quarter, settling at 11.6% vacancy at the end of Q4 2025, a modest increase of 10 basis points (bps). Similarly, suburban market vacancy increased by 10 bps quarter-over-quarter to 10.3%; while the downtown submarket witnessed a quarter-over-quarter increase of 20 bps, reaching 12.8%.

‒    Large-block Class AAA availabilities continue to reshape supply in the Downtown office market. Spurred on by recent consolidation activity, vacancy in this trophy segment has risen 150 basis points over 2025 yet remains the lowest among all product classes.

‒    Downtown full floor listings greater than 8,000 sq. ft. (both direct and sublease) yields 174 alternatives currently, down from the May 2023 peak of 191 floors. Telus Garden, Bentall 6 and The Exchange account for 23 floors of AAA space , the majority of which will be returned to the market via Amazon’s migration to The Post.

‒    Total Metro Vancouver inventory under construction amounts to 594,641 sq. ft. 55.0% of which is preleased. Of this, 305,000 sq. ft. is from the Oakridge Park development and only 29,000 sq. ft. is located Downtown (837 Beatty). Surrey delivered City Centre 4 (182,940 sq. ft. of new supply) in Q4 2025 79.1% pre-leased.