Vancouver’s industrial tenants and owner-occupiers may have a brief window to snag better facilities in the region before vacancy rates see an expected decline later this year.
A “flight to quality” can be observed in Greater Vancouver’s industrial property market, with industrial groups upgrading to newer, more efficient buildings in more optimal locations, said Ryan Kerr, Vancouver-based industrial specialist with Avison Young (Canada) Inc.
“As things soften, tenants and owner-occupiers can negotiate better terms on better facilities, and they’ll use the leverage of the less attractive buildings and the greater amount of supply” to secure better deals, Kerr said.
But don’t expect this window of opportunity to last long. The bottom
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