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The narrative for the Metro Vancouver industrial market in 2017 is one of demand. Each quarter in 2017 experienced positive net absorption, and the vacancy rate remained below 2.4 percent throughout. A healthy provincial economy has facilitated this demand, by putting companies in a position to expand within the industrial market or enter it for the first time. Could this narrative continue into 2018? Yes, it could. RBC's economic outlook for the new year forecasts that GDP will grow by 2.2 percent, albeit lower than the average of 3.5 percent in the previous four years. This growth should continue to fuel demand for warehouse space.
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