Lee & Associates has just released Q4 2020 North America industrial, office, retail, and multifamily market reports.

Metro Vancouver Industrial Market Overview

The Metro Vancouver Industrial market’s rents and sale prices continue in the upward direction during the ongoing pandemic. The rental market is marked by a low 2.2% vacancy rate; Average NNN Asking Rates have increased each quarter, representing a +5.7% YoY increase. Industrial investment remains robust. Although number of sales have decreased from the previous year, Market Sale Prices have escalated +7.4% to $313 PSF this year. Moreover, there is incentive to purchase with the banks fueling the sale market with low interest rates; affording tenants the opportunity to become owner-users of value appreciating assets.

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