The Lower Mainland continues to face an industrial space crisis that likely won’t go away on its own.Metro Vancouver’s industrial vacancy rate fell to 1.4 per cent at the end of 2018, down from 1.7 per cent a year earlier, according to a new report by commercial brokerage house CBRE.This mark represents the first time the region’s industrial vacancy has nearly matched the residential vacancy, said Chris MacCauley, a vice-president and development land specialist with CBRE in Vancouver.
fulfillment centre there later this year that will have 700 workers.Beedie has also been expanding its Delta Link Park on an 84-acre site at Tilbury Island.MacCauley said developers would need several consecutive years of adding four to five million square feet of new space to push vacancy toward a balanced market.“ demand outpaces supply by over a million square feet every year, and our average supply that we bring to the market is only in the four million square feet range per year,” he said.
Source: Real Estate Daily Report (realestatedailyreport.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Commercial Real Estate: Failure of Payless and Home Outfitters further shakes retail real estate marketTogether, the closures could vacate nearly 270,000 square feet in B.C.
Source: VancouverSun - 🏆 49. / 61 Read more »
Welcome to Decentraland, where investors spend real-world dollars flipping virtual real estate | CBC RadioInvestors are buying plots of land in a virtual city the size of Washington, D.C., hoping to sell them for profit. Others are snapping up space looking to build art galleries, casinos and movie theatres in a parallel virtual world.
Source: CBC - 🏆 32. / 63 Read more »
Housing Matters podcast: Can real estate market be taxed into submission?Host Stuart McNish speaks with President and CEO of the Urban Development Institute Anne McMullin and Adjunct Professor at the Center for Sustainable Development Michael Geller about this year&821… If real estate is taxed into submission, it and jobs are needed to rent or purchase a home...it is a fine line.
Source: VancouverSun - 🏆 49. / 61 Read more »
Affordable housing becomes singular focus of Toronto’s new real estate czarFormer Mattamy Homes executive Brian Johnston warns, however, that achieving Mayor John Tory’s targets won’t be easy Finally, after weeding out of all the dead weights and whiners something just may be starting to get focused on. Unfortunately, there may be only two years as the election cycle will start up again. ...
Source: globeandmail - 🏆 5. / 92 Read more »
Canadian real estate market outlook 2019: Stable but struggling - Macleans.caWhat the coming months hold for buyers, sellers, homeowners and investors. CanRE Yeah, there's just no other explanation for it. None at all. No way anyone with brain cells could figure it out. Unless they had to rent or buy a home, and found the prices to be so out of whack with incomes...but other than that, just no knowing what is going on...
Source: macleans - 🏆 19. / 71 Read more »
Foreclosures increase as home values fall and mortgage lending tightensThere are signs that homeowners’ worst-case scenario is happening more often as the Toronto-area real estate market continues to cool Not a good sign. Fact: The Canadian Loonie is worthless these days. Who knew?Where is the PM & the finance minister?A national initiative to master money? There is a level of frustration & burden that canadians,many, are at a breaking point. Or allow the spiral? Tough stuff. Be bold leaders!Our PM is an excellent teacher. He had 1 JustinTrudeau
Source: globeandmail - 🏆 5. / 92 Read more »
REAL SCOOP: Former Bacon associate testifies against himThe first of two former associates of Jamie Bacon has taken the stand against him. The man, who can only be identified as AB, said he was a good friend of Bacon’s, as well as a business partn…
Source: VancouverSun - 🏆 49. / 61 Read more »
Kimmy Schmidt's fictional novel, The Legends of Greemulax, is being published for real | CBC BooksFormer Montrealer and bestselling author Sarah Mlynowski is penning the fantasy middle-grade novel, which was a plot point on the Netflix sitcom starring Ellie Kemper. KimmySchmidt cbcbooks That’s pretty cool.
Source: CBC - 🏆 32. / 63 Read more »
The real world effects of Donald Trump's cluelessness - Macleans.caAdnan R. Khan: If the president's wildly uninformed decision about Syria is the new norm for U.S. foreign policy, the world is in for a rough ride And No influence and Powerless Trudope doesn't affect anything in the World!!! Perhaps you forgot that the great appeaser, Obama, surrendered Syria to Putin and Assad. He ran when chemical weapons were being used against women and children. 1. I am 60. trump is older than I am. THERE HAS NEVER. NEVER IN MY ENTIRE LIFETIME. NOT BEEN A WAR IN THE MIDDLE EAST.
Source: macleans - 🏆 19. / 71 Read more »
REAL SCOOP: AB tried to protect Bacon after Karbovanec shootingThere was more interesting testimony at the Bacon trial Friday as witness AB said he was so loyal to Jamie Bacon at the time that he tried to convince Dennis Karbovanec that Bacon had nothing to do…
Source: VancouverSun - 🏆 49. / 61 Read more »