Greater Victoria reaches decade lows for industrial vacancy. Strong market demand results in rapid appreciation of land value, building values, and unprecedented rental rates.
- Westshore, Esquimalt and other industrial sub-markets are operating nearly at full occupancy.
- Industrial business park tenants are growing at vast rates with no room for expansion.
- With majority of new supply planned for the Westshore region, it is expected to become the third largest industrial sub-market.