Nanaimo continues to face a tight industrial market vacancy rate of 0.83%, trending similarly to that of the Greater Victoria Area (0.73%) and the Greater Vancouver Area (1.3%).
- The low vacancy rate is having a negative impact on certain user groups, for example, those who require loading bays.
- Nanaimo industrial market cannot fulfill the demand of the future growth of existing or new businesses.
- The City of Nanaimo, in response to low vacancy, commissioned a land analysis study back in 2019. Upon completion, the report stated that there was a shortfall of industrial land within the city.