Squamish, BC is at the tip of Howe Sound, nestled between the world class city of Vancouver and world class ski resort of Whistler. The Coast Mountain range towers above the Pacific Ocean with 6 major rivers flowing in, creating an unprecedented range of outdoor sporting and recreation activities for the nature enthusiast.
Squamish has become one of the fastest growing communities in BC, with the laid back lifestyle of a mountain town and quick commute to Vancouver on the newly improved Sea to Sky Highway. The 2016 census shows Squamish now has 19,893 residents - 74% are under the age of 40, with a median age of 38 and average household income of over $88,366.
The town itself is approximately 65km to Vancouver (45 min) and 55 km to Whistler (35 min). Development sprawls off the Sea to Sky Highway in a short 11km stretch that runs through town with most commercial development within 1.5 km of the highway. Average daily highway traffic ranges 10-16,000 vehicles and there are excellent commercial transportation options with both CN Rail and a deep sea port servicing the community. There are 4 distinct commercial area highlighted below with product and rental ranges detailed below.
The investment fundamentals in Squamish are strong. Residential housing ranges 15-20% less than that of other Lower Mainland suburbs within a similar commuting time with commercial land as high as 25-40% lower. Affordable commercial rents, excellent transportation logistics and a unique lifestyle create an excellent opportunity to relocate and start new businesses.
Just off Highway 99, Downtown Squamish is approx. 1 km long and 0.5 km wide bordered by hundreds of acres of green space in the Squamish Estuary on the west and an ocean Channel on the east. The re-developing commercial area is 2 blocks wide with current and future buildings averaging 2-4 stories, centered along the main strip Cleveland Avenue. Most building stock is concrete block or wood frame, with concrete buildings in the last several years. Office space and retail storefront are available for lease in a wide price range dependent on quality of construction and location:
Retail Rents: A locations $18-23 net; B locations $15-18 net; C locations $13 net
Office Rents: A locations $16-18 net; B locations $12-14 net
FOR SALE FOR LEASE
The Squamish Business Park is 1 km north of Downtown Squamish off Highway 99 and is approx. 1.5 km long and 1 km. There is a wide range of light industrial, manufacturing and office users in the primary area off the highway. Most building stock is metal and concrete block with tilt-up concrete buildings in the last several years. The area is serviced by CN Rail on the west, Highway 99 on the east and the port is 3.5 km (5 min) south. There are still a handful of larger parcels of land available.
Recent anchor tenants of Home Depot and Walmart in the area have stimulated significant new investment in the Business Park which is quickly becoming the business hub for the Sea to Sky Corridor. Sea to Sky Business Park, a new 20 acre project is in the early stages of development.
Light industrial space, warehouse space, industrial land and service retail locations are available for lease in a wide price range dependent on quality of construction and location:
Service Retail Rents: A locations $18-23 net; B locations $14-17 net;
Warehouse Rents: $11-14 net
FOR SALE FOR LEASE
The Garibaldi Highlands commercial area is 4km north of Downtown Squamish and is approx. 1 km long and 2 blocks wide along Highway 99. Development is centered around 2 primary hihgway malls with anchor tenants (Garibaldi Village Ph 1 & 2), with a handful of older strip malls and mixed use buildings in the area, along with some other independent highway anchors. This north most area of Squamish is almost entirely developed. Office space and retail storefront are available for lease in a wide price range dependent on quality of construction and location:
Service Retail Rents: A locations $28-35 net; B locations $19-25 net; C locations $14-16 net
Warehouse Rents: A locations $16-18 net; B locations $12-14 net
FOR SALE FOR LEASE
The Squamish Oceanfront is a peninsula at the south tip of Downtown Squamish approx. 1 km long and 325m wide. Once home to a handful or large industrial users, this reclaimed site of approx. 81 land acres and 79 water lot acres is being redeveloped in partnership with public and private landowners to create a vibrant, mixed use development with residential, office, civic, light industrial, marine, and other supporting uses. The public announcement of potential development partners interested in the project is expected fall of 2013. Preliminary zoning is already in place. www.squamishoceanfront.com
Current Investment Initiatives:
- Squamish Oceanfront Development Corp.
- Sea to Sky Gondola
- Sea to Sky Business Park
- Garibaldi at Squamish Ski Resort (pending application)