Study Analyzes Lack of Industrial Land
The push is on to make more land available for industrial development in Metro Vancouver, according to a NAIOP Vancouver report. NAIOP retained Pacific Land Resource Group to assess the short-term supply of land available to the marketplace. The objective: help ensure the key policymakers in Metro Vancouver have the info they need to guide their decisions with regard to the industrial land base. According to the report, 2,500 acres of industrial land is available for near-term development throughout Metro Vancouver. "The availability of vacant, developable industrial land is a key driver in the maintenance and growth of our economy," says CBRE VP industrial properties Chris MacCauley, who quarterbacked getting the report done.