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Report: Industrial Real Estate is Vancouver’s Most Prized Investment Asset
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(Posted on Nov 24, 2018 at 02:31AM by Michelle Bogle)
According to a new Vancouver Flash Report 2018 by Altus Group, the city’s industrial real estate market is the most prized investment asset, well surpassing other commercial property types.
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In the last eight quarters, nearly 5 million square feet of new industrial space has been added to the market. However, this injection of properties hasn’t snuffed out demand. According to the report, the overall vacancy rate in this asset class dropped to the 2 percent range within the first half of this year. The trend is also expected to push the market’s net rental rates even higher.
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Industrial transactions have also played an important role in making up for the losses in the office and retail sectors during the first half of the year. Warehouses have been cited as one of the main driving forces, helping to boost the market’s lease rates up by 29 percent annually in Q1 2018. This significantly outpaces the worldwide average increase of 3 percent during that quarter.
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To learn more about Vancouver’s commercial real estate market, click here to view the Vancouver Flash Report 2018. Our team at Marcus & Millichap can also answer any of your questions. Contact our office today to speak with one of our expert advisors.
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