Market Report
Vancouver Industrial Market Report
3Q 2026
Leasing Strength Builds, Development Slows
as Next Cycle Begins to Emerge
Sector beginning to turn a corner. Leasing momentum improved over the past year, with positive net absorption reaching its strongest annual total since 2022 and first-half leasing in 2026 already surpassing the previous two years’ annual totals. Demand has been particularly encouraging for larger-bay properties. Near-term economic uncertainty will keep the recovery measured, however. That said, Vancouver’s structural land constraints and expanding trade and distribution presence support tighter conditions in the coming years. The market is a gateway to Asia, which, along with energy investment, improves Vancouver’s medium-term economic outlook.
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