Thompson Okanagan Market Outlook
Thompson Okanagan industrial vacancy rates fall below 2% as high demand outpaces new supply. Net rental rates increase 8.6% in Kelowna over the past year and 7.42% in Vernon respectively.
Over 325,000 SF of industrial inventory has been absorbed since Q3 2018.
Developers continue to push industrial projects outward toward the airport district as the cost of industrial land rises.