Vancouver Industrial Figures Q1 2026

‒    Metro Vancouver’s overall availability rate continued its upward trend, rising by 30 basis points quarter over quarter to 6.3%, marking the fourth consecutive quarterly increase. This growth is primarily driven by expanding availability within the small and mid bay size segments.

‒    Inventory expansion is expected to remain limited, particularly among large format product. With only 1.7 million sq. ft. of new supply anticipated for completion by year end, the constrained construction pipeline will continue to restrict further inventory increase.

‒    The average asking lease rate across Metro Vancouver continued to soften, declining to $19.51 per sq. ft., a 2.3% year-over-year decrease.

‒    Currently, 2.7 million sq. ft. are under construction, with just under 70% pre committed. Nearly half of the active construction volume consists of build to suit projects.