The Greater Victoria industrial sector remains strong and undersupplied with a low vacancy rate of 0.2% 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, $17.07 per square foot, is currently the highest in the country, 0.5% above Vancouver’s ($16.93 per square foot) and approximately 24% higher than in Toronto ($13.75 per square foot).
