Q1 2018 Industrial Market Snapshot

Q1 2018 Industrial Market Snapshot

We are pleased to present our latest findings on the Metro Vancouver industrial market. Highlights from this quarterly report include:

  • The Metro Vancouver industrial vacancy rate for Q1 2018 is 1.47%, a decrease from 1.64% reported for Q1 2017
  • Q1 2018 totaled over $290,000,000 in reported sales, this is set to surpass the Q1 2017 total of over $317,000,000
  • Metro Vancouver’s industrial rental rates continue to rise with an average of $11.59 per square foot being reported, an increase of $1.05 from Q1 2017
  • In Q1 2018 the average price per square foot for Metro Vancouver industrial properties surpassed the $300 mark, a large increase compared to the Q1 2017 rate of over $240 per square foot
  • Both new supply and absorption rates are projected to rise in 2018 as over 3 million square feet is expected to be added to the Greater Vancouver industrial inventory

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