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Vancouver Industrial Market Report Q3 2020

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research article

The GVA industrial market is proving to be resilient across all size categories with only mid-bay space seeing a slight increase in vacancy quarter over quarter.

  • The current quarter’s 1.3% vacancy is below both the 5-year average of 1.7% and 10-year average of 2.8%, making it the fourteenth consecutive quarter where the GVA’s industrial vacancy rate has been below 2.0%.
  • The availability rate (which includes listings that are physically occupied, as well as listings of buildings under construction) reached 4.8% of total inventory, a decrease from the previous quarter and below the 10-year average of 5.5%.
  • Delta iPort Building 2, a speculatively developed project offering space for lease totaling 484,920 square feet is now fully leased. The current market is experiencing very strong demand for bulk/logistics space (>100,000 SF) – currently there are no vacancies in this size segment.
  • E-commerce and supply chain resilience is gaining momentum as drivers of demand for industrial space with several large deals having transacted.
  • The GVA industrial market continues to be supply constrained and is experiencing record low vacancy with strong leasing demand despite the economic impacts from COVID-19. Given the lack of options in the market lease rates are seeing upward pressure.



Vancouver Industrial Market Report Q3 2020

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For More Information, Please Contact:

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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