Amazon taking over yet another unique space in downtown Vancouver
It’s clear that Amazon likes Vancouver. Hey, fair enough, we don’t know many people who wouldn’t want to live here (we might be biased). It makes sense that they’ve signed yet another lease. This time, they’re entering a short term lease at the new 400 West Georgia building.
They’ll be joining Deloitte LLP and Apple as the three main tenants. We have to admit, it’s a cool building, looking like basically a bunch of boxes stacked atop one another. But, if they don’t follow through on those living walls then we’re docking marks for sure. Architecture critique is a mean game.
This new space comes in at around 119,00 square feet. Plus, they’ve got 156,000 in the Telus Building and another 150,000 on the way later this year. So, we’re looking at 425,000 square feet total by the end of 2020. For reference, the average rent in Vancouver is around $44/sq. ft.
Yeah, you see what we’re driving at. At the market price (they probably get deals), Amazon drops $18.7M a month to be in Vancouver. Or, just shy of $225M per year.
If you need us, we’ll be figuring out how to finance commercial real estate ventures.