FOCUS
With a red-hot real estate market and endless investment coming from every direction, BC has proven to be fertile ground for com mercial development even through the difficulty of the last few years.
What is even more encouraging, is the fact that the lesser populated places in the province are growing at an exponential rate, opening up new, exciting markets for commercial real estate brokers.
“With the opening of our Kamloops office in October of this year, that will be our sixth BC office now open and that will give us more dedi cated brokerage offices throughout the province than anybody else,” said Cory Wright, Founder and Managing Broker of William Wright Commercial.
William Wright Commercial is nearing its 10-year anniversary and is celebrating one of the most successful expansion periods to date. The company now has six, soon-to-be seven, offices in major commercial real estate markets across BC. The seventh office will open next year in the Greater Nanaimo area.
William Wright now also has the most dedicated brokerage offices throughout the province than anybody else, an advantage that plays perfectly into Wright’s strategy. Since day one, Wright committed to leading the company away from the traditional corporate brokerage model and, instead, focussing on community-based offices in secondary markets across BC. The goal was that these locations would become a one-stop-shop to commercial investors, landlords and tenants.
“One of the biggest challenges in our business prior to the decen tralized approach were situations where we had someone in Kamloops who lives in Kamloops who owns property in Kamloops speaking to a guy in downtown Vancouver watching harbour planes flying in and out all day,” said Wright. “The disconnect was frustrating for our clients and that frustration reverberated through the business.”
Now, with this new strategy off and running, Wright is ecstatic about what these results mean for the future of the company.
10
“We have always been a big believer in the secondary markets like Kelowna, Kamloops and Vernon,” said Wright. “When companies and institutions come into this province, they have so many markets to choose from and we are proud to be there in those markets, ready to serve and guide that new progression.”
But beyond the business, Wright is most excited about being an integral community member, which has become a pillar in all of William Wright’s operations.
“We operate, from a corporate standpoint, the same across the board but we know that every office and every community that we are in is different,” said Wright. “We have worked really hard to tie ourselves into each respective community and become a reliable presence for each market we operate in.”
The company is a big-time sponsor of provincial WHL teams and uses the sport to connect to the community and promote different services. This year, Wright will launch a ticket rebate program with the Kamloops Blazers to give out free hockey tickets to kids and youth sports teams. Additionally, Wright has used the company platform to expand on their Helping Hands project, a charity developed in 2015 which gives back to underprivileged children through toy donation and other charitable means.
“Naturally, we will always continue to look at where things are going, what is the next market to invest in,” said Wright. “But for now, we have built up a strong network that helps clients achieve their goals and helps communities grow and prosper. For that, we are incredibly grateful.”
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Companytimeline
2015
Expanded Vancouver office to 1,800 SQFT space.
Surpassed $150,000,000 in transactions.
Established the William Wright Helping Hands Project.
2017
Surpassed $600,000,000 in transactions with 10 team members.
2013
Opened for business in Vancouver with 2 team members in a 300 SQFT office.
2018
Opened 2nd commercial office in New Westminster.
Opened 3rd commercial office in Langley, expanding to Fraser Valley.
2020
Opened 4th commercial office in Victoria, expanding to Vancouver Island.
Opened William Wright Property Management office in Vancouver.
Surpassed $1,000,000,000 in transactions with 21 team members.
Featured as 8th in Business in Vancouver’s Biggest Commercial Real Estate Brokerages in BC in 2020.
2021
Opened 5th commercial office in Kelowna, expanding to Okanagan.
Launched the Vancouver Commercial Real Estate Podcast, which became a Top 20 Apple Investment Podcast in May 2021.
Collected and donated 2,800+ toys with the William Wright Helping Hands Project.
Surpassed $2,800,000,000 in transactions with 42 team members.
2022
Opening 6th commercial office in Kamloops in Q3, Opening 7th commercial office in Parksville in Q4.
Named 167th in The Globe and Mail’s Canada’s Top Growing Companies.
Our officelocations New Westminster 350-522 7th Street, New Westminster Property Management 200-808 W Hastings Street, Vancouver Vancouver 430-605 Robson Street, Vancouver Kelowna 205-478 Bernard Avenue, Kelowna
Fraser Valley 210-8029 199th Street, Langley Kamloops Opening in Q3 2022 Victoria 843 Johnson Street, Victoria Central Island Opening in Q4 2022
910 MAIN STREET, VANCOUVER
Steven Lam, Matthew Ho, Meg Cooney
+/- 825–1,909 SQFT of transit-oriented retail space with unparalleled exposure and wide frontage on Main Street.
8378 120TH STREET, SURREY
van Vliet*
Simplex
building
Centre is a brand
units
896–4,112
4940 NO.3 ROAD, RICHMOND
Ho, Steven Lam
705–3,769 SQFT
transit-oriented
in a professionally
8250 FRASER STREET, VANCOUVER Nathan Armour*
Freestanding I-2 industrial zoned building with dock loadng and rear yard space off Fraser St and
4828 HASTINGS STREET, BURNABY
Meg Cooney, Liam Simpson, Matthew Ho
Turnkey pharmacy and medical clinic in a high exposure location in Burnaby Heights.
992–1,653 SQFT.
200 & 211-2411 DOLLARTON HWY, N VANCOUVER
DeCotiis*
2,453 SQFT of bright corner office
a reception area,
102 & 200-11770 FRASER ST, MAPLE RIDGE Stathis Michael Savvis*, Nathan Armour* Medkinetic is a modern 3 storey medical
large
professional office building built in
1,052–1,526 SQFT
1659 WATER STREET, KELOWNA
Mitchell, Jeff Brown
903-915 KALAMALKA LAKE RD, VERNON
Kostyshen,
5.2%
Hancock*
2796 BENEDICK ROAD, KELOWNA
Hancock*, Jeff Brown
of
family development
1010-320 GRANVILLE ST, VANCOUVER Mark Nemish, Amrita Guram Brand new waterfront office unit, offering spectacular views, top amenities, and a central downtown location. +/- 1,514 SQFT.
4,395 SQFT building
new standalone
by
526 HIGHWAY 97A, SICAMOUS Marianne DeCotiis*
Medium density dev site with options to be re-developed into a mobile home park, condos, or townhomes.
4.88
1304 & 1320 BATTLE STREET, KAMLOOPS
Jeff Brown, Victoria Mitchell
Fully leased 5.0% cap rate investment opportunity with 3 well maintained buildings. +/- 0.79 acres lot size.
FEATURED LISTINGS Q3 2022
Chris
Professional
new mixed-use
with 3 retail
and 2 levels of office space. +/-
SQFT.
Shelby
Jeff
Fully leased industrial property featuring a
cap rate with future development opportunity. +/- 2.67 acres lot size.
and
2019. +/-
Matthew
+/-
prime
office space
managed building with ample on-site parking.
Jeff
+/- 15.15 acres
single
land with subdivision plans available for 38–42 single family lots.
Marianne
+/-
space with
5
offices, 2 washrooms, and a kitchenette.
+/-
+/-
acres.
Marine Dr. +/- 21,000 SQFT. 1980-1982 COPELAND PLACE, KELOWNA Jeff Hancock*, Shelby Kostyshen Rare full duplex in Lower Mission with income in place and great redevelopment potential. +/- 7,000 SQFT lot size.
Victoria
Brand
+/-
with rooftop patio surrounded
upcoming density and redevelopment. 8302 ST GEORGE STREET, VANCOUVER Steven Lam, Matthew Ho +/- 7,918 SQFT owner occupier opportunity. Freestanding warehouse/office building with long term redevelopment potential. FOR LEASE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR LEASE $6,772,000$1,100,000 $3,988,000 FOR LEASE FOR LEASE FOR LEASE FOR LEASE FOR LEASE FOR LEASE *PERSONAL REAL ESTATE CORPORATION 411 THIRD AVENUE, NEW WESTMINSTER Amrita Guram, Mark Nemish Development opportunity with holding income from the existing 11 unit multifamily building. +/- 17,667 SQFT lot size. Price: Contact Listing Agents $13,300,000$4,872,000 $1,750,000Price: Contact Listing Agents
4342 WEST SHORE PARKWAY William Wright Commercial is pleased to present the opportunity to lease industrial space during a record low vacancy period in both the West Shore and Greater Victoria area. With limited to no space currently available on the market, West Shore Business Park is set to be the first industrial project brought to market to help provide much needed industrial space to many local businesses. The site is strategically located only minutes away from the Patricia Bay Highway, allowing easy access and egress to and from all of Victoria’s major trade areas. PROPERTY FEATURES Size: Starting from +/- 3,215 SQFT and up Basic Rent: Starting from $19/FT Additional Rent: $7/FT Type: Industrial Agent: Jeff Hassler NOW LEASING
SIZES +/- 707 – 2,468 SQFT TYPE Office LEASING RATES Basic Rent: $14–$15/FT / Additional Rent: $10.90/FT AGENTS Jeff Hassler jeffh@williamwright.ca / 250-590-5797 John Hankins jhankins@naicommercial.ca / 250-753-5757 The Parksville Professional Centre (the “Property”) is made up of 24,209 SQFT of office and retail spread over two buildings with a large surface parking lot containing 65 stalls for both tenants and visitors. The Property is home to 10 tenants including Shopper’s Drug Mart, Lisa Kerwin Law Corporation, Dr. Louis Beaudoin Inc., Drs. Sulz, Fridricksson and Bell, Drs. Morris, Szachnowska & Hickey-Somerville, and Ministry of Citizen Services amongst others. This fully air-conditioned building is ideal for medical and professional services alike and is located in the heart of downtown Parksville. MOVE IN READY OFFICE UNITS FOR LEASE Parksville Professional Centre 154 Memorial Avenue, Parksville
209-19365 22ND AVENUE, SURREY
Trideep Chakraborty*
17,020 SQFT of industrial space featuring mezzanine office buildout and dock loading doors.
Avenue in downtown.
201-207 11743 224TH ST, MAPLE RIDGE Chris van Vliet*
Haney Professional Centre is a two level office building located one block from downtown Maple Ridge. +/- 3,957 SQFT.
201-221
van Vliet*
104 AVE, SURREY
strata units in the mixed-use building
as Park Central, located in the Guildford area.
19,227 SQFT.
45786 HOCKING AVE, CHILLIWACK Matthew Ho, Steven Lam
41,005 SQFT industrial development site with nearly 100 FT of frontage and immediate redevelopment potential.
1321 GRAVELEY STREET, VANCOUVER Meg Cooney, Liam Simpson, Matthew Ho, Seamus Bailey
4,026 SQFT industrial development site currently improved with a two-storey residential home.
1-2235 LECKIE ROAD, KELOWNA
Jeff Brown, Victoria Mitchell
Located in a sought after industrial
RECENT TRANSACTIONS Q3 2022 6631 HASTINGS STREET, BURNABY Nathan Armour*, Stathis Michael Savvis* +/- 1,380–5,512 SQFT freestanding retail building in Burnaby Heights with ample parking and signage opportunity. 1860 CRESCENT ROAD, VICTORIA Connor Braid*, Harry Jones* A well-located and newly renovated 8-unit multifamily building with stunning ocean views. +/- 14,857 SQFT. 100-319 W HASTINGS ST, VANCOUVER Meg Cooney, Liam Simpson This +/- 3,000 SQFT retail space is improved with hardwood floors, modern drywalling, and bright lighting. SL56-61 2992 GLEN DR, COQUITLAM Stathis Michael Savvis* Fully leased strata retail investment at a prime intersection with great long-term upside potential. +/- 1,634 SQFT. 4-2930 AMY ROAD, LANGFORD Harry Jones* Light industrial strata unit with 22’ ceilings, smooth finished concrete floors, and 125 amp 3-phase power. +/- 2,080 SQFT. 2429 DROUGHT ROAD, WEST KELOWNA Jeff Brown, Victoria Mitchell +/- 2,650 SQFT commercial building including a full basement and stand alone residential building with ample parking. 22336 LOUGHEED HWY, MAPLE RIDGE Chris van Vliet* +/- 2,561 SQFT second floor office space comprised of four units just off 224th
+/-
14333
Chris
18
known
+/-
+/-
+/-
area, the unit includes offices, ground floor space, and a mezzanine. +/- 5,000 SQFT. 3152 + 3182 LAKESHORE DR, KELOWNA Jeff Hancock* Off-market sale of a rare 2+ acre income property in South Pandosy Village, which is well positioned for future development. LEASED LEASED SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SUBLEASED LEASED LEASED LEASED LEASED LEASED $3,888,000 $2,460,000 $7,500,000 206 & 208-13880 WIRELESS WAY, RICHMOND Nathan Armour*, Josh Jawanda Two open shell industrial spaces with a mezzanine level for a multi-purpose warehouse. +/- 1,330–1,363 SQFT. 4158 MAIN STREET, VANCOUVER Meg Cooney, Liam Simpson, Seamus Bailey Freestanding retail building offering two 684 SQFT retail units with flexible tenancies. +/- 1,368 SQFT combined. *PERSONAL REAL ESTATE CORPORATION $1,350,000 $2,708,888 Price: Contact Listing Agents Price: Contact Listing Agents Price: Contact Listing Agents
VANCOUVER COMMERCIAL REAL ESTATE PODCAST
For all the curious minds interested in commercial real estate in vesting, grab a coffee and pull up a chair because we have exclusive stories and tips from commercial real estate brokers, investors, devel opers, economists, urban planners, and everyone in-between. From the successes and failures to the motivations and lessons learned, the Vancouver Commercial Real Estate Podcast is your insight into commercial real estate in Vancouver, Victoria, Kelowna, and beyond.
Hosted by Cory Wright, founder of William Wright Commercial, and co-hosts Adam and Matt Scalena of the Vancouver Real Estate Podcast, our podcast opens the door to real estate investing.
A Top 20 Apple Business Podcast as of May 2021
FEATURED EPISODE
Do you want to learn how to leverage a life insurance policy to buy commercial real estate? How can you benefit from a life insurance policy whilst you're still alive?
Cory Wright and Rod McKay welcome Robert Trasolini and Laurent Munier of Safe Pacific Financial, here to show you just how easy it can be to use a life insurance policy as an investment vehicle to drive you into the commercial real estate game. We really dive into an industry secret this week, so make sure you are taking notes.
VCREP #63: HOW TO BUY COMMERCIAL REAL ESTATE WITH YOUR LIFE INSURANCE POLICY… WHILST YOU’RE STILL ALIVE WITH ROBERT TRASOLINI AND LAURENT MUNIER
As we head into fall season, Western Investor is due to release their five best cities to invest in for 2023. Frank O'Brien from BIV Media Group shares their top cities for commercial real estate in 2023. This year's list has a few VCREP favourites plus a couple of surprises, and not to mention the number one spot is not even in BC this year!
Frank also shares his opinion on the NDP's David Eby's new housing plan and how it could be setting us back and opening an even bigger opportunity for speculators. Frank never disappoints with his charismatic storytelling and insight.
VCREP #68: THE 5 BEST CITIES TO INVEST IN FOR 2023 WITH FRANK O’BRIEN
FEATURED EPISODE
PROVIDING REAL-TIME INSIGHT INTO TODAY’S COMMERCIAL REAL ESTATE INDUSTRY.
williamwright.ca For more information please contact our Vancouver office. sales@williamwright.ca | 604.428.5255
Tyler Nyquvest for Business Examiner JOURNALIST
