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Vancouver Industrial Market Report Q4 2022

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The shortage of large-bay space remains the headline of the Greater Vancouver Area’s Industrial market in Q4. Average asking net rates have increased to $21.10 per square foot, and despite a 46% increase in total vacant space from the previous quarter, there is still very strong tenant demand.

  • Vacant and available square feet have both risen quarter-over-quarter, but those increases have had no substantial impact on the current market, with the vacancy rate remaining at 0.2%.
  • Leasing options remain limited despite an additional 648,431 square feet of available space hitting the market in Q4, with half of the listed spaces being 5,000 square feet or smaller.
  • Over 1.1 million square feet of new supply was delivered in the final quarter of 2022, but nearly all of the new space was pre-leased before the buildings reached completion, resulting in a net absorption of 928,265 square feet.

Vancouver Industrial Market Report Q4 2022

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Pour plus d’informations, veuillez contacter:

Adam Jacobs

Head of Research | Canada

Toronto Downtown

Colliers Canada's head of research, leading a cross-country team of 20 mapping, analytics and research professionals. Formerly head of Canada research at Cushman Wakefield and Director of Analytics at Oxford Properties. Featured in mainstream publications such as the Toronto Star, industry publications and podcasts. Specializing in the big picture and the fundamentals driving real estate - demographics, the macro environment and the global economy. 

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