SPRING 2022

Metro Vancouver Industrial Overview

Industrial investment activity surpassed the half-billion-dollar mark in the first quarter of 2022

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Industrial overview

Metro Vancouver’s industrial vacancy lowest in North America at 0.5%

Strata development represents one fifth of total square footage of new supply currently under construction

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Rental-rate escalation expected to continue at a slower rate due to interest rate hikes

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Delivery of new space for lease unable to alleviate chronically tight vacancy as majority is preleased through 2022

Lease rates hit new record high as Metro Vancouver average achieves $18.09 psf

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Investment in industrial properties continues to rise as the asset class outperforms other commercial real estate asset classes and remains the focus of investors of all types

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Metro Vancouver Industrial Market Update (Q1 2022)

Approximately 2.8 million square feet of new inventory will be delivered in the next six months, but 85% of that space is already preleased/presold.

Metro Vancouver Historical Industrial Trends

SPRING 2022 | METRO VANCOUVER

Industrial Overview

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© 2022 Avison Young. All rights reserved. E. & O.E.: The information contained herein was obtained from sources that we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real Estate Services, LP (“Avison Young”)