Q2 2018 Industrial Market Report
We are pleased to present our latest findings on the Metro Vancouver industrial market. Highlights from this quarterly report include:
- The Q2 2018 vacancy rate for Metro Vancouver is 1.40% a decrease of 10 basis points from the Q2 2017 reported rate of 1.50%
- In Q2 2017 the reported Metro Vancouver industrial rental rate was $10.68; by Q2 2018 we showed a $1.13 increase, with rental rates averaging $11.81 for Q2 2018
- The reported sales for Q2 2018 reached $377,664,183 and while total number of sales are down this quarter the total sales volume continues to increase and is set to surpass the Q2 2017 reported sales of $385,586,903 as more sales come in
- Price per SF continues to increase for the Metro Vancouver Industrial market, reaching an average of $331 for Q2 2018, an increase from the price per SF of $253 reported in Q2 2017
- With over one million SF of new supply expected in the next 12 months, the Richmond, Delta, and Tsawwassen First Nation submarket has become the most active in terms of new supply.