Net leases dominate (tenant pays opex, taxes, insurance separately).

  • Typical lease length: 10 years.
  • Typical rent-free: 10 months.
  • Vacancy: 11.2%; trend flat.
  • Net leases dominate (tenant pays opex, taxes, insurance separately).

Vancouver office lease norms

Net leases dominate (tenant pays opex, taxes, insurance separately).

TL;DR

  • Typical lease length: 10 years.
  • Typical rent-free: 10 months.
  • Vacancy: 11.2%; trend flat.
  • Net leases dominate (tenant pays opex, taxes, insurance separately).

Structure

Net leases dominate (tenant pays opex, taxes, insurance separately). 10-year terms standard. Free rent of 8-12 months and TI of C$60-$110/sqft typical on a 10-year Class A deal.

Negotiating levers

Free rent and TI remain the most negotiable line items; landlords prefer concessions to face-rent cuts because they preserve headline rent and implied valuation. Always model effective rent (face minus PV of concessions).

Key facts

cityVancouver
countryCanada
regionAmericas
classARentLocal52 CAD/sqft/yr
classARentUsd$39/sqft/yr
vacancy11.2%
typicalLeaseYears10
typicalRentFreeMonths10
submarkets5
primeYieldPct5.2%

Frequently asked questions

What's a typical lease term in Vancouver?
10 years for institutional Class A. Shorter terms are achievable on smaller floor plates with stronger covenants.
How is rent quoted in Vancouver?
In CAD/sqft/year. We also publish a USD-normalised view ($39/sqft/yr) for cross-market comparison.

Editorial provenance

Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.

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