Industrial land shortage threatens local economy – Business in Vancouver

July 28, 2015

Entire Metro Vancouver inventory could be gone within four years, analysts warn

Four years after a Metro Vancouver report warned that the region would run out of industrial land by 2020, that timeline appears to have been pushed forward.

Since 2013, due largely to demand for big distribution warehouses for e-commerce retailers, more than 137 acres have been paved and roofed for industrial tenants, according to Avison Young.

“There is already an acute shortage of industrial land,” the broker stated in an industry survey.

NAOIP (Commercial Real Estate Development Association, Vancouver chapter) has estimated that there are fewer than 475 acres of privately owned land zoned for industrial use remaining in the region.

Read More: https://www.biv.com/article/2015/7/industrial-land-shortage-threatens-local-economy/