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Vancouver Industrial Market Report Q1 2022

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research article

The GVA industrial market saw another quarter of record low vacancy and a record high for weighted average asking net rent.

  • Limited supply and strong demand are driving the GVA industrial market. The vacancy rate remained at an all-time low of 0.4%.
  • Q1 2022 saw a 20.2% increase year-over-year in weighted average asking net rent for the GVA, resulting in a record high rate of $16.93 per square foot.
  • Strata projects are increasingly releasing limited phases with the anticipation of price increases for future phases. Average price per square foot for strata in the GVA was $546 per square foot.

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Vancouver Industrial Market Report Q1 2022

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For More Information, Please Contact:

Leo Lee

Director, National Research Operations | Canada

Toronto Downtown

Leo Lee is the Director of National Research Operations | Canada and oversees the strategic direction and operations of Colliers Canada Research. He focuses on developing the capabilities of the national research team that leverages Colliers' best-in-class market intelligence and platforms to provide clients with valuable market insights.

Leo joined Colliers International in 2008 and was most recently the Regional Director of Research for Eastern Canada.

He has over 15 years of experience in the real estate market across Canada and New Zealand and draws on his professional experience as a commercial appraiser and real estate consultant.

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