For the third consecutive quarter the Greater Vancouver Area (GVA) industrial market set a record low for vacancy and record high for weighted average asking net rent.
- For the fourth consecutive quarter the GVA industrial market experienced no vacancies of bulk/logistics space (>100,000 square feet). Also, for the second consecutive quarter there were no vacancies larger than 50,000 square feet.
- Q3 2021 saw a 16.8% increase year-over-year in weighted average asking net rent for the GVA, a record increase, resulting in a record high rate of $15.50 per square foot.
- The first three quarters of 2021 saw a record high average price per square foot for strata in the GVA at $429 per square foot, an increase of 110% from the same period in 2016 and an increase of 19% year-over-year.