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Metro Vancouver Industrial Insight - Q2 2018

The vacancy rate has now decreased for the fourth consecutive quarter to 1.9 percent… In terms of available space, this means there are becoming fewer and fewer options for tenants. However, companies are still finding and leasing warehouse space; particularly companies related to the logistics and distribution based industry. This industry contributed to a quarter of all space leased in Metro Vancouver for the quarter, much of this coming with Kuehne + Nagel’s 129,782 square foot renewal at 7419 Nelson Road, Richmond. Logistics and distribution companies have been, and we think will continue to be, the type of tenant pushing demand in the market, and helping to keep the vacancy rate at historic lows. 

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