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Vancouver Industrial Market Report Q3 2020

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research article

The GVA industrial market is proving to be resilient across all size categories with only mid-bay space seeing a slight increase in vacancy quarter over quarter.

  • The current quarter’s 1.3% vacancy is below both the 5-year average of 1.7% and 10-year average of 2.8%, making it the fourteenth consecutive quarter where the GVA’s industrial vacancy rate has been below 2.0%.
  • The availability rate (which includes listings that are physically occupied, as well as listings of buildings under construction) reached 4.8% of total inventory, a decrease from the previous quarter and below the 10-year average of 5.5%.
  • Delta iPort Building 2, a speculatively developed project offering space for lease totaling 484,920 square feet is now fully leased. The current market is experiencing very strong demand for bulk/logistics space (>100,000 SF) – currently there are no vacancies in this size segment.
  • E-commerce and supply chain resilience is gaining momentum as drivers of demand for industrial space with several large deals having transacted.
  • The GVA industrial market continues to be supply constrained and is experiencing record low vacancy with strong leasing demand despite the economic impacts from COVID-19. Given the lack of options in the market lease rates are seeing upward pressure.

 


Vancouver Industrial Market Report Q3 2020

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Pour plus d’informations, veuillez contacter:

Leo Lee

Senior Market Intelligence Analyst

Toronto West

Leo joined Colliers International in 2008.  He plays a key role in the delivery of Colliers research reports and business intelligence solutions, with a particular focus on the GTA industrial market.  He draws on his professional experience as a commercial appraiser and real estate consultant to provide valuable market insights and strategic advice for both clients and across the Colliers business line.

His expertise includes real estate market research, commercial property valuation, geodemographic spatial analysis, development feasibility, financial modelling and forecasting, and portfolio strategies.  He leverages the use of data visualization and GIS mapping to effectively communicate trends and assist clients in making the best real estate decisions.

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