Vancouver-based Rennie expands into commercial real estate | Daily Hive

Bentall Centre office towers in downtown Vancouver. (Hudson Pacific Properties)

Vancouver-based real estate marketing, development sales, and brokerage firm Rennie is diversifying its business in a big way.

Prominently known for its residential real estate business, the company announced on Wednesday that it will be launching a commercial real estate division, known as Rennie Commercial.

“Clarity and care have always been central to how we approach real estate. With Rennie Commercial, we are extending that commitment into new markets, supporting our advisors and helping clients move forward with confidence,” said Scott Bond, vice president of Rennie Consumer Services, in a statement.

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Greg Zayadi, president of Rennie, added, “Launching Rennie Commercial is an exciting and important step for us. We have built long-standing relationships across the industry by focusing on insight, integrity, and people-first service. Expanding into commercial real estate builds on that foundation. It is an organically opportunistic next chapter in the story we have been telling for decades.”

Expanding into the commercial real estate market deals with non-residential uses, including office, retail, and restaurant spaces, industrial and institutional properties, and land assemblies.

Rennie notes that this new division will be backed by its existing in-house intelligence team, which includes economists, demographers, and market analysts. This creates a wholly integrated company that has a reach covering all types of real estate transactions.

This follows Rennie’s announcement in May 2025 that, due to the prolonged weakness in the residential real estate market, especially with the sluggish pace of pre-sales, and other long-term factors that are changing the overall real estate industry, it was forced to reduce its headquarters office team in Vancouver from 123 to 92 staff.

Within its home market of British Columbia, Rennie will provide some competition for commercial real estate firms such as CBRE, Avison Young, NAI Commercial, Colliers International, Goodman Commercial, Marcus & Millichap, and Cushman & Wakefield.

According to Greater Vancouver Realtors, after several sluggish years, office property deals helped lift Metro Vancouver’s commercial real estate market in the first quarter of 2025. Office transactions more than doubled from the previous quarter and rose 96 per cent year-over-year to $269 million.

Overall, there were 341 commercial property sales in the first quarter of 2025, down 7.8 per cent from a year earlier, with a total dollar volume of $2.005 billion — a six per cent decline.

Other sectors showed mixed results. Retail sales climbed 65 per cent to $477 million, while industrial activity slipped 12.6 per cent to $407 million. Land transactions plunged 50.5 per cent, and multi-family sales fell by more than 40 per cent compared to the first quarter of 2024.

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