The GVA industrial market saw another quarter of record-low vacancy and a record-high for weighted average asking net rent.
- Limited supply and strong demand are driving the GVA industrial market. The vacancy rate remained at an all-time low of 0.4%.
- Q1 2022 saw a 20.2% increase year-over-year in weighted average asking net rent for the GVA, resulting in a record high rate of $16.93 per square foot.
- Strata projects are increasingly releasing limited phases with the anticipation of price increases for future phases. The average price per square foot for strata in the GVA was $546 per square foot.