We called up Avision Young’s Rob Gritten this morning for the latest on the Metro Vancouver industrial market. The region’s industrial vacancy rate—which has hovered around 3.5%—means owners of older, less efficient buildings have to get real on pricing. It’s a tenant’s market, Rob says, and with loads of new supply out there—and 3.5M SF under construction or in the planning—landlords will be fiercely competing for a limited number of tenants. (Like trying to get cast in Degrassi, being old is a big liability.)
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