Home > AM1320 radio real estate update > Metro Vancouver Industrial Real Estate Market Overview (Part 1)

Metro Vancouver Industrial Real Estate Market Overview (Part 1)


May 5,2012

Metro Vancouver Industrial Real Estate Market Overview (Part 1)

Please click podcast listen to Cantonese interview  

The Metro Vancouver industrial market continues to show signs of strengthening with the

vacancy rate dropping to 3.8 percent in the first quarter of 2012 from 4.0 percent in the

irst quarter of 2011. While tenants remain mindful of the status of the global economy,

investor and owner/user interest in existing buildings and sites between two and five acres

is exceptionally high. Freehold land continues to become increasingly scarce; however,

approximately 1,027 acres of leasehold land has been identiied as available for development

in the core Metro Vancouver markets. Given the continued positive absorption and the

current lack of supply, the development community is expected to begin looking at launching

new projects over the course of 2012.

Richmond:

The vacancy rate in the first quarter of 2012 declined in Richmond

markets, from 3.8 percent in the fourth quarter of 2011, to 3.6 percent. Richmond’s industrial market garnered 92,064 square feet in positive net absorption this quarter.

Leasing activity in the Richmond markets picked up moderately in the first quarter of 2012. 123,681 square feet has been leased out on Blundell Road; 121,350 square feet leased out on No.6 Road; 38,684 square feet leased out on Van Horne Way.

The supply of quality investment product continues to be constrained in both markets; a private investor purchase of 62,271 square feet in Richmond for $8.0 million.

 

 

 

 

 

 

 

 

Info provided by Colliers International

Tina Mak Personal Real Estate Corporation
Your Vancouver Radio Realtor
(The Bridge from East to West since 1992)
#1 Female Agent since 2002 @
Coldwellbanker Westburn Rlty
International President’s Circle Award
Top 5% in Vancouver Real Estate Board
International Real Estate Info. Provider
Co-host of AM1320 Radio Investment Show
5489 Kingsway, Burnaby
BC V5H 2G1
Tel:604-412-5860
http://www.TinaMak.ca (温哥华中文地產網頁)
Email: tinamak@tinamak.com
“Knowledge Empowering Investment Decisions”

 

 

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