Bob Moss has been a pioneer in the Central Vancouver Island commercial real estate market
NANAIMO – Bob Moss is recognized as one of the builders of the region’s commercial and industrial real estate market.
Although he retired from NAI Commercial in 2019 after selling the franchise to 460 Realty Group in 2016 and is no longer licensed, Moss continues to be a keen commercial investor in the Central Vancouver Island market, partnering with his sons, daughter and with investor friends.
“The commercial real estate market on Vancouver Island has changed steadily over the 35 years that I have been involved,” he observes. “ The biggest single change has been the increased participation by national and institutional investors. Many of those sophisticated investors now see that Vancouver Island is very desirable location that will see continued in migration.”
Moss arrived in Nanaimo in 1988 as the BC Regional Manager for Montreal-based Zaicana Real Estate Inc., and when that firm went into receivership during the 1992 downturn, he started a new real estate brokerage, Zaicana Pacific Realty Ltd. Zaicana affiliated with the J.J. Barnicke group to become J.J. Barnicke Nanaimo Ltd. in 2004, and after the parent company was sold to DTZ in 2007, his local office became DTZ Barnicke Nanaimo, then DTZ, before joining NAI in 2015 to become NAI Commercial Central Vancouver Island, which Moss sold to 460 Realty Group.
Moss recalls that in the 1990’s, most investors were local or regional and it was hard work to convince them to buy commercial property, and even harder to convince lenders to lend on competitive terms.
“I believe the increased confidence in population growth and resulting demand for commercial real estate is here to stay,” he states. “The two most active segments of the commercial market are multi-family rental and light industrial. Demand for both follows from increasing population.”
Moss sees multi-family rental and light industrial segments continuing to lead the market, with retail and office expected to undergo changes as demand adapts to changes following Covid adjustments.
“I believe that commercial realtors are facing an increasingly complex business,” he states. “Clients are becoming more sophisticated, municipal processes are increasingly challenging and it is vital to be fully conversant with financing opportunities. I’m a keen advocate for both specialty commercial licensing and continuing education targeted at commercial practice.”
He’s currently hanging his hat at Tectonica Management Inc., an award winning project management and development company led by his son Darren Moss.
“My favourite project continues to be the development and redevelopment of downtown Nanaimo,” Moss adds. “Dating back to my first involvement with the downtown office buildings, I have been fortunate to be involved with numerous properties in the downtown and with organizations helping to move the neighbourhood forward.
“The Vancouver Island Conference Centre and the work done by the Downtown Nanaimo Partnership in the early 2000’s are good examples of the initiatives we need to encourage. I believe that Nanaimo’s downtown continues to have great potential as a place to live, work and play. I also believe that we will continue to see new multi-family residential and commercial developments downtown with ample opportunity for new investment.”