Greater Vancouver Area Industrial Market Report Q1 2020

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First and foremost, Colliers would like to extend our best wishes to all in this challenging time. We hope that everyone is staying safe and share a tremendous amount of gratitude for all the essential service workers, including but not limited to truck drivers transporting essential goods, building operators keeping properties operational, and healthcare workers on the frontlines. Although this quarter’s industrial market statistics do not show any significant impacts of COVID-19, based on economic projections the Greater Vancouver Area (GVA) industrial market will not remain unscathed.

  • The fundamentals of the GVA industrial real estate market have been very strong leading into the COVID-19 situation. Vacancy is hovering near record lows - this is the twelfth consecutive quarter where the GVA’s industrial vacancy rate has been below 2.0%.
  • Weighted average asking net rental rates for the GVA reached an all time high of $13.11 per square foot in Q1 2020.
  • The statistics reflect the entire quarter and there is a lag between real estate markets and economic impacts - as the COVID-19 situation is still in early stages and very dynamic, we at Colliers are monitoring the market very closely.

Greater Vancouver Area Industrial Market Report Q1 2020

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Pour plus d’informations, veuillez contacter:
Maury Dubuque | Colliers International | Vancouver

Maury Dubuque

Senior Managing Director | Vancouver Brokerage

Vancouver

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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