Q4 2017 Industrial Market Report
We are pleased to present our latest findings on the Metro Vancouver industrial market. Highlights from this quarterly report include:
- The industrial vacancy rate for Metro Vancouver ends 2017 at 1.48% a decrease from 1.67% reported at the end of 2016
- Metro Vancouver’s industrial rental rates continue to increase with an average of $11.44 being reported for Q4 2017, an increase of $.90 from Q4 2016
- For 2017 sales of industrial properties in Metro Vancouver totaled over $1,650,000,000 which is down from the 2016 total of over $1,800,000,000
- While total sales volume has decreased, price per SF for industrial properties has increased to over $275 per SF across Metro Vancouver, an increase compared to the 2016 rate of over $240 per SF.
- There was a total of over 3,000,000 SF of new supply becoming available from construction in 2017, which is up from the 3-year average of 2,600,000 SF