Vancouver's industrial real estate market has seen an increase in vacancy rates, rising to 3.8% in the first quarter of 2025 from 2.1% in 2024, according to a report. The market absorbed several large-bay transactions over 100,000 square feet in March. Most new strata under construction is aimed at small-bay users, making up 74% of projects. Institutional investors remain active, with significant transactions totaling about $450 million, though they are proceeding cautiously due to uncertainties from U.S. tariffs on Canadian goods.
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