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What do the top five tenants types of YTD 2017 tell us about the Metro Vancouver industrial market?

  • ​Although tenants in the consumer durable industry (think things that do not wear quickly and last more than three years - like appliances, electronics, etc.) have technically leased the most space so far in 2017, this is largely due to one lease: when IKEA leased 340,000 square feet at 7031 York Road, Richmond in Q2 2017. So when looking at the most active tenant type of YTD 2017, instead look to logistics and distribution based tenants. They have leased upwards of 688,914 square feet of space and have completed three of the top ten largest lease deals.
  • A tenant type to take note of is construction materials & building fixtures based tenants. Although this tenant type has leased the least amount of space, they have been involved in 19.2 percent of the total leases completed (the most of any tenant type). A 13.8 percent year-over-year increase in the value of building permits in Vancouver has contributed to this tenant type’s growth. ​​

Source: JLL Research

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