November 10, 2026
Metro Vancouver Industrial Report Q3 2026
Market Highlights
Vacancy:
Metro Vancouver's industrial market recorded a second consecutive quarter ofimproving fundamentals in Q3 2026, as the availability rate declined 30 bpsquarter-over-quarter to 5.8%, while the vacancy rate remained unchanged at5.0%.
Net Absorption:
Leasing momentum continued to build throughout the year, driving net absorptionto 1.1 million sq. ft. during the quarter, more than double the level recordedin Q2
Net Rents:
The average asking lease rate continued its gradual softening trend, markingthe 13th consecutive quarter of decline as it settled to $18.87 per sq. ft.
Under Construction:
Approximately 3.1 million sq. ft. remains under construction across MetroVancouver, with roughly 1.1 million sq. ft. expected to be delivered beforeyear-end.
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