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There isn’t enough industrial real estate in Metro Vancouver: report
Michael La Prairie
on Friday, February 16th, 2018 at 3:06pm.
In a report from real estate company CBRE, Metro Vancouver’s industrial vacancy rate dropped from 3.9 per cent to 2.3 per cent between 2016 and 2017, and they predict that by the end of 2018 it will fall to a historic 1.7 per cent. The report says rent is up 13.6 per cent year-over-year in Metro Vancouver, at an average $10.23 per foot by the last quarter of 2017.Senior vice president of industrial, Chris MacCauley, said that small businesses wanting to expand may be pushed out of the province. “People are gonna have to go to not maybe an ideal spot for their business. They’re gonna have to go down the list.”
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