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Metro Vancouver Industrial Insight - Q2 2017

​Even with positive net absorption (when a tenant physically moves into space) the vacancy rate increased for the fourth straight quarter in the Metro Vancouver industrial market. We would continue to characterize the market as having a strong level of demand however. This is particularly true for newly constructed buildings that can provide tenants with large blocks of contiguous and efficient space. For example, the two largest lease deals of the quarter were completed at buildings still under construction: Hopewell’s South Surrey Business Park – Building 1 in Campbell Heights and at Hopewell’s Distribution Centre - Phase IV in South Richmond.

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