Strata deals account for more than half of transactions in ultra-tight industrial sector
Projects where space is sold – not leased – are dominating Metro Vancouver’s industrial market for the first time as property transactions fall sharply from the record investment levels of 2018.
In the first six months of this year, industrial investment struggled to reach $272 million, and it “will likely fall far short of its five-year average,” according to JLL and Altus Group.
The slide began in the first quarter, with a 54 per cent plunge in industrial transactions compared with the record-setting pace seen in the fourth quarter of 2018.
But the bigger story is the transformation of industrial into a strata market as tenants seek shelter from a…