Vancouver Industrial Figures Q4 2025

‒    Metro Vancouver’s overall availability rate has continued its upward trajectory, increasing by 70 basis points (bps) quarter-over-quarter to reach 6.0%. This rise is primarily attributed to heightened listing activity for properties between 50,000 and 100,000 sq. ft.

‒    Vacancy rates continue to fluctuate and have risen 80 bps quarter-over-quarter, attributed to heighted listing activity for properties between 50,000 and 100,000 sq. ft. as well as rolling vacancies on formerly available properties.

‒    Average asking lease rates across Metro Vancouver have continued to decline, ending the year at $19.64 per sq. ft.—a 2.2% decrease year-over-year.

‒    New supply deliveries for 2025 totaled just under 4.3 million sq. ft., with nearly half of this inventory built-to-suit, indicating a significant slowdown in speculative development.

‒    Looking ahead, the development pipeline continues to thin, with only 2.1 million sq. ft. expected to complete in 2026, of which just 1.3 million sq. ft. is speculative.