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Greater Vancouver Area Industrial Market Report Q4 2020

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research article

The GVA industrial market experienced record low vacancy in Q4 2020 and, as was the case in the previous quarter, there were no vacancies of bulk/logistics space. The lack of vacant bulk/logistics space is driven in large part by the current surge in e-commerce requirements. The infrastructure being put in place to accommodate the growth in e-commerce is having a ripple effect on the market, reducing options for all end users.

  • Overall, vacancy and availability have declined quarter over quarter from Q1 2020 to Q4 2020. For space from 0 to 5,000 SF, vacancy increased quarter over quarter, but declined from Q1 2020 to Q4 2020. However, availability of existing space from 0 to 5,000 SF increased over both periods. This is consistent with the widely held sentiment that smaller businesses have been most impacted by the pandemic.
  • A prime example of developers responding to the current market conditions of a lack of developable land, low vacancy, rising rents and the acceleration of e-commerce is Oxford Properties' Riverbend Business Park Multi-Storey development, which is the first of its kind in Canada and currently under construction.
  • Strata sales are gaining momentum as businesses are looking to purchase instead of lease to take advantage of all time low interest rates, build equity and to hedge against the trend of rising lease rates given the lack of options in the market and strong demand.


Greater Vancouver Area Industrial Market Report Q4 2020

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Maury Dubuque

Senior Managing Director


Maury is the Senior Managing Director of the Vancouver Brokerage at Colliers International, Canada’s leading commercial real estate services firm.  Maury has been working in the commercial real estate industry for close to three decades and is a leading authority on the commercial office market in the Greater Vancouver Area. Known for his extensive network and deep industry knowledge, Maury is highly skilled at assembling teams that are aligned with a client’s needs and deliver enduring value.

Maury joined Colliers in 2011 after spending more than 10 years in office and industrial leasing at a leading global real estate services firm. Appointed Managing Director of the Vancouver brokerage in 2013, Maury currently oversees more than 165 brokerage and support staff, a high-performance team that consistently ranks among Colliers’ top producing groups nationally.

Under his leadership, Maury fosters an enterprising culture that encourages collaboration, superior client service and mentorship. Maury was integral in the creation and launch of the Colliers Acceleration Program to train junior advisors in key foundational and technical skills required to build their careers in commercial real estate. After piloting in two Canadian markets in 2015, the program launched across Canada in 2016 and now runs in 30 markets across North America. 

Maury is a member in good standing of NAIOP Commercial Real Estate Development Association – Vancouver Chapter, the Real Estate Board of Greater Vancouver, the Greater Vancouver Board of Trade, the International Council of Shopping Centres and the Marine Drive Golf Club.

Maury holds a Bachelor of Arts in Urban and Economic Geography from Simon Fraser University and a Diploma in Urban Land Economics from the University of British Columbia.


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Roelof van Dijk

Senior Director, National Research & Analytics | Canada

Toronto Downtown

As Senior Director, Research & Analytics | Canada, Roelof leads the strategy and operation of Colliers Canada Research, delivering market intelligence initiatives that give Colliers and its clients a competitive advantage. He focuses on developing a high-performance national research team that leverages Colliers’ best-in-class market intelligence to produce relevant insights on local and national market and industry trends that inform client decisions, address market needs and support Colliers’ growth strategies.

Roelof has 15 years of experience covering the Canadian commercial real estate market. Prior to his career in commercial real estate, he also worked as a project manager and urban planning consultant for residential developers across the Greater Toronto Area.

Roelof is regularly cited in national publications, such as The Globe & Mail, CBC News, Bloomberg, Reuters, Maclean’s Magazine and the National Post, as well as in local outlets across Canada.

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