The Greater Victoria industrial sector remains strong and undersupplied with an all-time low vacancy rate of 0.1% as demand outpaces supply.
- Victoria’s industrial vacancy continues to be the lowest in the country as it waits for new inventory to arrive in 2022.
- Victoria’s average asking rent is currently the highest in country, 1% above Vancouver’s ($16.31 per square foot) and approximately 30% higher than in Toronto ($12.66 per square foot).