The CRD’s industrial vacancy rate is at a decade low, following eight consecutive quarters of positive absorption. Leasing and sales in the industrial market remained robust, with overall vacancy decreasing in all the municipalities. Here is a preview of the Victoria Summer 2018 Industrial Report:
- The Westshore is an emerging market for industrial acquisitions due to lack of supply in other markets.
- The most notable addition to inventory was the 44,000 square-foot warehouse and distribution facility built for Islands West Produce in Royal Oak.
- Saanich experienced the most significant change in vacancy over the past 12 months