Regional Industrial Space Report

BBOT Member Avison Young has a great report on the availability and vacancy of Industrial Land in the Lower Mainland

“A nearly unprecedented level of positive absorption in the past six to 12 months has effectively depleted much of the new supply of industrial space delivered in Metro Vancouver since 2014, with vacancy approaching the record lows last achieved when demand previously peaked in 2006/07. Despite Metro Vancouver’s industrial inventory growing by more than 3.2 million square feet (msf ) to 192.6 msf during the past 12 months, overall vacancy has tightened further, dropping to 3% at fall 2015 from 3.6% at fall 2014. “

“Industrial preleasing will be the dominant theme in 2016 as continued strong interest from tenants as well as displaced owner-occupiers further restricts the availability of lease space. Vacancy will tighten further as the wave of new supply that has been delivered since 2014 is absorbed and little new product is delivered in 2016”

Get the full report here: