Commercial property buyers demonstrated significant investment appetite in British Columbia throughout 2025, with a strong preference for stable, income-generating assets. This trend led to substantial transactions across various sectors, including office, industrial, seniors housing, and hotels, underscoring a market shift towards reliable cash flow.
Key Takeaways
- Smart capital is actively returning to British Columbia, prioritizing stable, income-producing properties.
- Stabilized operating assets have become the "gold standard" for investors amidst ongoing market uncertainty.
- The absence of development land transactions in the top deals highlights challenges in the development market, such as rising costs and declining revenues.
The Post Leads Landmark Transactions
The sale of The Post building in Vancouver, valued at approximately $1.2 billion, topped the list of the largest commercial real estate (CRE) transactions in 2025. This deal, which established a new benchmark for office transactions in Vancouver, saw Pontegadea acquire the property in November. The Post, serving as Amazon's Vancouver hub, is a significant renovation project and one of the city's largest-ever property sales, rivaling the previous billion-dollar sale of the Bentall Centre.
Top CRE Deals of 2025
While The Post transaction was the largest, several other significant deals shaped the B.C. CRE landscape:
- Office Portfolio: Oxford Properties acquired a substantial office portfolio in June, totaling over 1.2 million square feet. This deal, part of a larger $1.5 billion Western Canada portfolio, granted Oxford full ownership of key downtown Vancouver buildings including the Marine Building, The Stack, Guinness Tower, and MNP Building.
- Blueprint Residences: In November, BGO purchased the Blueprint Residences apartment complex in View Royal, Victoria, for an undisclosed sum. This acquisition added 336 purpose-built rental units, marking the largest single-title multifamily transaction in Vancouver Island's history.
- Hyatt Vancouver Downtown (Former Shangri-La): Brookfield Asset Management bought the former Shangri-La Vancouver hotel and adjacent retail space for $160 million in June. The 119-room property is slated for a major renovation and rebranding as Vancouver's first Park Hyatt.
- McKeen Industrial Complex: Dream Industrial REIT acquired this 27.5-acre industrial complex in North Vancouver for $143 million in February. The 860,000-square-foot property is nearly fully occupied.
- 798 Granville Street: This prime retail site, home to tenants like Best Buy and Marshalls, was sold for $140 million to The GJ Group.
- Willowbrook Shopping Centre: The Langley shopping centre was acquired by Shato Holdings Ltd. for $137 million in early 2025. The 194,000-square-foot open-air center is fully leased.
- 700 & 750 West Pender: KingSett Capital purchased these two 16-storey office towers for $125 million in the summer. The Class-B towers, built in the mid-1970s, are currently 86% occupied.
- Distribution Centre (9410 River Road): Prologis acquired this 289,000-square-foot industrial property in Delta for approximately $115 million in March.
- Cottonwood Centre: Finix Holdings acquired this Chilliwack shopping mall for $115 million in May. The 22-acre retail property is anchored by major tenants like London Drugs and Save-On-Foods.
- Seasons Wesbrook Village: This seniors rental apartment complex sold for $109.77 million in February. The acquisition by Seasons Retirement Communities and Fengate Asset Management marks their entry into the B.C. market.
Market Outlook
Industry experts Vincent Minichiello and Cynthia Jagger of CBRE noted that the B.C. CRE market is undergoing a reset, with renewed confidence in underwriting large acquisitions. The strong performance of stabilized properties indicates a resilient Vancouver market where capital is actively seeking quality assets, despite broader economic uncertainties.
