Metro Vancouver Industrial Overview (Fall 2020)
November 5, 2020Metro Vancouver’s industrial market appears to have remained largely pandemic-proof six months after the introduction of COVID-19-containment measures in March with record-high rental rates and record-low vacancy registered at the end of the third quarter of 2020. While COVID-19 has adversely impacted select industrial operators, a significant proportion of industrial activity in Metro Vancouver has not only endured the imposition of containment protocols, but has prospered as a result. The pandemic has also highlighted the region’s ongoing inability to build meaningful amounts of new supply at a rate rapid enough to meet the persistent demand from tenants and owner/occupiers.