{"id":11845,"date":"2019-03-09T11:11:01","date_gmt":"2019-03-09T19:11:01","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11845"},"modified":"2019-03-04T11:02:14","modified_gmt":"2019-03-04T19:02:14","slug":"e-commerce-was-the-largest-demand-for-vancouvers-commercial-industrial-space","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/03\/e-commerce-was-the-largest-demand-for-vancouvers-commercial-industrial-space\/","title":{"rendered":"E-Commerce was The Largest Demand for Vancouver’s Commercial & Industrial Space"},"content":{"rendered":"

Of Canada\u2019s largest sectors, it was e-commerce that accounted for much of the demand for Vancouver\u2019s commercial and industrial space, according to CBRE Ltd.<\/p>\n

Specifically, the market\u2019s warehouse spaces attracted a majority of the e-commerce firms and ventures taking roost in the city.<\/p>\n

Industrial rent rates have consequently grown by 16% annually to reach a record-high $11.86 per square foot last year \u2013 the highest among Canada\u2019s urban commercial property markets in 2018.<\/p>\n

In contrast, Vancouver\u2019s 1.5% industrial vacancy near the end of 2018 was among the lowest in North America.<\/p>\n

Tight supply and historically low unemployment rates will foster sustained demand for much of 2019, according to Avison Young Canada Inc. in its report released in January.<\/p>\n

Nearly 4.9 million square feet of industrial space was under development across Metro Vancouver as of the end of last year, the analysis added.<\/p>\n

CBRE warned that Vancouver is in danger of running out of industrial land soon, if these trends hold.<\/p>\n

\u201cThere is a critical shortage of industrial land in Vancouver,\u201d CBRE Canada vice chairman Paul Morassutti told Bloomberg.<\/p>\n

\u201cIt was our estimation that they could potentially, literally run out of industrial land by the early 2020s.\u201d<\/p>\n

E-Commerce is Rapidly Eating Up Vancouver’s Industrial Space<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"

Of Canada\u2019s largest sectors, it was e-commerce that accounted for much of the demand for Vancouver\u2019s commercial and industrial space, according to CBRE Ltd. Specifically, the market\u2019s warehouse spaces attracted … [read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-11845","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"\nE-Commerce was The Largest Demand for Vancouver's Commercial & Industrial Space • Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/03\/e-commerce-was-the-largest-demand-for-vancouvers-commercial-industrial-space\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"E-Commerce was The Largest Demand for Vancouver's Commercial & Industrial Space • Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Of Canada\u2019s largest sectors, it was e-commerce that accounted for much of the demand for Vancouver\u2019s commercial and industrial space, according to CBRE Ltd. 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