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