Mission Produce Inc T.AVO

RE:RE:Some people obviously have a long term view

[ErskineReid]

For perspective, the yearly rent for Class A office space in Vancouver is in the $40/sqft range compared to $65 USD in San Francisco. That's half price so we can't claim Vancouver is the most overpriced market in the world. Commercial and residential aren't the same story of supply and demand.

Here's the space rented by Avigilon for an undisclosed amount likely just above $40 per square foot : https://spacelist.ca/p/bc/vancouver/858_beatty_st/300
That's $2.7M+ in rent every year for 67,884 square feet.

They just acquired a modern 130,000 square feet building from Telus for 42M$ in a desirable location to attract top talent. If even available on the market, comparable yearly rent would have been $5.4M, increasing every year. The financing cost for their purchase will be barely $1M, decreasing every year.

Comparing the two options objectively, you'll notice they'll save a few millions each year or own their headquarters in less than a decade.