Metro Vancouver Industrial Market Remains Tight As 2023 Begins

Vancouver

2023/01/25

Metro Vancouver’s industrial vacancy rate ended 2022 unchanged at 0.2%. 4.4M-sq-ft were added to the market in 2022, and a further 6.9M-sq-ft are under construction. It would take another 6M-sq-ft delivered to the market to push vacancies above 3%. ~25% of the space under construction is smaller, strata-titled units, while 75% is for larger tenants requiring >100K-sq-ft.