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Industrial is defined as:
In Metro-Vancouver market there is a shortage of Industrial properties for sale. Land suitable for Industrial development is in high demand due a critical shortage. Those are due to steady population and economic growth, the constrained geography of the region, and to land availability due to zoning, agricultural land regulations, and other constraints.
Across the region, municipal policies and bylaws vary in terms of what uses are permitted within industrial and employment zoning. For example, some municipal bylaws limit permitted uses to more traditional industrial activities, such as manufacturing, warehousing and distribution logistics, while others provide more flexibility to accommodate a range of uses, such as commercial, places of worship, and indoor recreation.
According to the release of the Statistics on September 15, 2022 by Commercial Edge, Lower Mainland’s Commercial Industrial market sees fewer transactions in the second quarter of 2022.
There were 93 industrial land sales in the Lower Mainland in Q2 2022, which is a 49.2 per cent decrease from the 183 sales in Q2 2021. The dollar value of industrial sales was $542 million in Q2 2022, a 12 per cent increase from $484 million in Q2 2021.
There were 712 industrial land sales in the Lower Mainland in 2021, which is a 36.9 per cent increase from the 520 sales in 2020. The dollar value of industrial sales was $2.39 billion in 2021, a 61.1 per cent increase from $1.48 billion in 2020.
Owned and operated by the Greater Vancouver Realtors® (GVR), the Commercial EDGE system includes all commercial real estate transactions in the Lower Mainland region of BC that have been registered with the Land Title and Survey Authority of British Columbia.
Commercial EDGE is updated monthly based on data originating from the BC Assessment Authority. Commercial EDGE does not include share sale transactions as they are not registered with the Land Title and Survey Authority of British Columbia. Please note that historical data may be subject to revision as transaction records are received from the Land Title and Survey Authority of British Columbia.
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