16
Research & Forecast Report METRO VANCOUVER INDUSTRIAL MARKET Second Quarter 2016
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Research & Forecast Report
METRO VANCOUVERINDUSTRIAL MARKET Second Quarter 2016
Research & Forecast Report | Second Quarter 2016 | Metro Vancouver / Industrial | Colliers International
Metro Vancouver Market Overview .......................................................................................1
Market Summaries
Vancouver .......................................................................................................................2 North Vancouver ..................................................................................................... 3 Burnaby & New Westminster ................................................................................... 4 Tri-Cities ................................................................................................................. 5 Richmond ................................................................................................................ 6 Delta ....................................................................................................................... 7 Surrey .................................................................................................................... 8 Langley ................................................................................................................... 9 Abbotsford, Chilliwack & Ridge-Meadows .............................................................. 10
Glossary & Forecast Assumptions ...................................................................................... 11
Table of Contents
11 Research & Forecast Report | Second Quarter 2016 | Metro Vancouver / Industrial | Colliers International
Metro Vancouver Market Overview
Market OverviewVancouver’s economy is anticipated to lead the country in real GDP growth over the next several years. The Conference Board of Canada reports growth of 3.2% for 2016 and an average growth of 3.1% between 2017-2020 – for context, Toronto is expected to grow by 2.6% in 2016 and 2.5% between 2017 and 2020. The growth in Western Canada’s largest city is largely fueled by rising housing costs and large non-residential projects. Most notably is the continued work on Seaspan’s $8-billion federal shipping contract supporting growth in the manufacturing sector, which is expected to expand by 4.1% following 2015’s growth of 3.3%.
In this quarter the world saw the people of Britain vote in favour of leaving the European Union, adequately referred to as “Brexit” by the media. While the impact to the different global economies is yet to be known, TD Economics notes that Canada is not “immune” to effects of the Brexit. That said, TD Economics reassures that the economic impact, albeit minimal, should only be a temporary setback on the Canadian economy. Since the announcement, TD Economics anticipates that the Bank of Canada will keep the overnight interest rate at 0.5% into 2018.
The Metro Vancouver industrial market continues to see vacancy decline as demand for industrial product remains strong with year over year vacancy going from 3.3% to 1.5%. Net absorption slowed this quarter to 644,677 SF relative to the previous quarter’s net absorption of 1,047,454 SF; in addition, year over year net absorption declined from 1,022,822 SF in Q2 2015. However, the general trend is positive net absorption with strong demand for space with a dwindling supply of available inventory as well as developable land.
Investment MarketInvestment product is becoming increasingly scarce as the owner-user market continues to strengthen with low interest rates facilitating the purchase power of business owners; in addition, owner-users are incentivized to purchase with the desire to hedge against rising lease rates in the face of limited supply and strong demand, fueling a robust strata sales market. However, some
Market Trends and Forecast
Q1 2016 Vacant Space by Property Size (SF)
investors are looking to strata product to find opportunities with the potential to lease once purchased.
Some notable planned infrastructure changes include the removal of the Dunsmuir and Georgia viaducts as well as the development of the St. Paul’s Hospital site, which has created significant interest in the Strathcona neighbourhood of Vancouver. The George Massey Tunnel replacement project has received some recent criticism from the Metro Vancouver mayors; however, construction is expected to begin in 2017 with the process to obtain bids for the work underway.1Source: Conference Board of Canada
Market IndicatorsRelative to prior period Q2 2015 Q2 2016 Trend
VACANCY 3.3% 1.5%
YTD NET ABSORPTION (SF) 2,796,910 1,692,131
YTD NEW SUPPLY (SF) 1,695,768 314,334
UNDER CONSTRUCTION (SF) 2,954,782 5,305,549
AVERAGE ASKING NET RENT* $8.01 $8.64 *Average Asking Net Rent is calculated using a weighted average
-500,000
500,000
1,500,000
2,500,000
0.5%
1.5%
2.5%
3.5%
4.5%
New Supply (SF) Net Absorption (SF) Current Qtr Vacancy Rate
0
500,000
1,000,000
1,500,000
2,000,000
Delta
Rich
mond
Burn
aby
Vanc
ouve
r
Surre
y
New
Wes
tmins
ter
Lang
ley
Coqu
itlam
Port
Coqu
itlam
Ridg
e-Me
adow
s
North
Van
couv
er
Abbo
tsfor
d
Chilli
wack
Port
Mood
y
Bulk/Logistic (>100,000) Large (30,000-100,000)
Mid (5,000-30,000) Small (0-5,000)
2Research & Forecast Report | Second Quarter 2016 | Metro Vancouver / Industrial | Colliers International
VancouverIndicative of the strong demand for space in Vancouver, The Kent Fraser Business Park completed construction this quarter and is now fully leased; the building totals to 123,477 SF. The vacancy rate modestly increased to 2.1% up from 1.4% the previous quarter; however, year over year vacancy has remained on a downward trend.
Trends > The development of strata and flex industrial/office product in Vancouver continues to gain momentum.
> There is significant interest in the Strathcona neighbourhood as major changes to the area are planned for the future, including the removal of the Georgia and Dunsmuir Viaducts as well as the development of the new St. Pauls Hospital site.
> Off-market transactions are becoming increasingly common.
> PC Urban’s Intra Urban strata project has largely sold out with only a handful of available units in building 2B.
Notable Lease TransactionsTENANT NAME - ADDRESS TYPE APPROXIMATE
SIZE (SF)
1. The Crossing Studios - 3525 Lougheed Hwy Direct 26,946
2. Gramercy Film Productions Inc. - 349 West Georgia Street, Floor 3 Direct 35,000
3. Direct Tap - Units 20-50, 8385 Fraser Street Direct 78,293
Summary Statistics Q2 2015 Q2 2016 Trend
Vacancy Rate 3.5% 2.1%
YTD Net Absorption (SF) -48,153 88,279
YTD New Supply (SF) 65,062 123,477
Under Construction (SF) 184,392 254,648
Weighted Average Asking Net Rent ($/SF) $9.77 $13.10
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VANCOUVERINTERNATIONAL
AIRPORT
BC FERRIESTERMINAL
TSAWWASSEN
BOUNDARY BAYAIRPORT
LANGLEYAIRPORT
PITT MEADOWSAIRPORT
ABBOTSFORD INTERNATIONAL
AIRPORT
Albion Ferry
Burquitlam
Port Moody Centre
Lincoln
Coquitlam CentralInlet Centre
LougheedTown Centre
Burquitlam
Port Moody Centre Inlet CentreCoquitlam Central
Lafarge Lake - Douglas
Lincoln
LougheedTown Centre
Port Moody Centre
PittMeadows
MapleMeadows
PortHaney
MissionCity
CoquitlamCentral
PortCoquitlam
Port Moody Centre
PittMeadows
MapleMeadows
PortHaney
MissionCity
CoquitlamCentral
PortCoquitlam
KingEdward
Broadway/City Hall
Olympic Village
Yaletown/Roundhouse
Oakridge/41st Ave
Langara/49th Ave
Marine Dr
Bridgeport
Aberdeen
Lansdowne
Brighouse
TempletonSea Island
CentreYVR
Airport
VancouverCity Centre
KingEdward
Broadway/City Hall
Olympic Village
Yaletown/Roundhouse
Oakridge/41st Ave
Langara/49th Ave
Marine Dr
Bridgeport
Aberdeen
Lansdowne
Brighouse
TempletonSea Island
CentreYVR
Airport
VancouverCity Centre
Commercial
RupertRenfrew
Gilmore BrentwoodTown Centre
Holdom
Sperling/Burnaby Lake
Lake City WayProduction Way/University
Braid
Sapperton
LougheedTown Centre
VCC/Clark
Commercial
RupertRenfrew
Gilmore BrentwoodTown Centre
Holdom
Sperling/Burnaby Lake
Lake City WayProduction Way/University
Braid
Sapperton
LougheedTown Centre
VCC/Clark
Burrard
Stadium/Chinatown
Main St
Broadway
Nanaimo
29th Ave
Joyce
Patterson
Metrotown
RoyalOak
Edmonds
22nd StNewWestminster
ColumbiaScott Rd
Gateway
SurreyCentral
King George
Granville
WaterfrontBurrard
Stadium/Chinatown
Main St
Broadway
Nanaimo
29th Ave
Joyce
Patterson
Metrotown
RoyalOak
Edmonds
22nd StNewWestminster
ColumbiaScott Rd
Gateway
SurreyCentral
King George
Granville
Waterfront
Lonsdale QuayLonsdale Quay
Delta
Surrey
Port Moody
Burnaby
WestVancouver
NorthVancouver
Richmond
CHILLIWACK
AGASSIZNEWWESTMINSTER
Vancouver
LangleyLangley
Port Coquitlam
Coquitlam
PittMeadows
MapleRidge
Mission
Abbotsford
White Rock
George Massey Tunnel
Hammond Rd
Fraser Wy
Boundary Rd
Vye Rd
Wha
tcom
Rd
McC
allu
m R
d
Marshall Rd
Huntington Rd
Peard
onvil
le Rd
King Rd
Ross
Rd
296t
h St
328t
h St
320t
h St
304t
h St
Mt.
Lehm
an R
d Clea
rbro
ok R
d
McM
illan
RdOld Yale
Clayburn Rd
Old
Bell
Rd
56th Ave
Clayburn Rd
Rive
rsid
e Rd
Fore Rd 60th Ave
44 Ave
16th Ave
8th Ave
20th Ave
Page Rd
Glad
win
Rd
48th Ave48th Ave
40th Ave
Ferndale Ave
Richards Ave
Dale Rd
Farms Rd
Hartley Rd
Dewdney Trunk Rd
1st Ave
7th Ave
14th Ave
22nd Ave
Ceda
r St
Farm
s Rd
Spra
tt Rd
Stav
e La
ke R
d
Hurd
St
Wre
n St
Clay
St
Dewdney Trunk Rd
Keystone Ave
Tyler
Wils
on S
t
Hayw
ard
St
Duke R
d280t
h St
80th Ave
McTavish Rd
Satc
hell
St
Harris Rd
Townshipline Rd
Downes Rd
Brad
ner R
d28
8th
St
Lefe
uvre
Rd
8th Ave
0 Ave Boundary Rd
272n
d St
8th Ave
256t
h St
248t
h St
272n
d St
56th Ave
272n
d St
280t
h St
112th Ave
100th Ave
112th Ave
256t
h St
256t
h St
264t
h St
248t
h St
112th Ave
124th Ave
Dewdney Trunk Rd
102nd Ave
240t
h St
128th Ave128th Ave
232n
d St
227t
h St
224t
h St
Glov
er R
d
Wilson Cr
80th Ave
240t
h St
Brow
n Rd
72nd Ave
Telegraph Tr
Fern
Cr
132nd Ave
144 th St
Neav
es R
d
Laity
St
216t
h St
River Rd
203r
d St
207t
h St
Gold
en E
ars
Brid
ge
208t
h St
100th Ave
96th Ave
88th Ave
Telegraph Tr
216t
h St
To
pham
Rd
200t
h St
72nd Ave 72nd Ave
208t
h St
216t
h St
Glover
Rd
Logan Ave
HWY 10BYPASS
48th Ave
Old Yale Rd
40th Ave
Douglas Cr
208t
h St
53rd Ave
203r
d St
Grade Cr
200t
h St
208t
h St
216t
h St
32nd Ave
240t
h St
24th Ave 24th Ave
224t
h St
232n
d St
16th Ave
176t
h St
0 Ave Boundary Rd
176t
h St
172n
d St
Campbell River Rd
16th Ave
168t
h St
8th Ave
Buena Vista Ave
152n
d St 24th Ave
20th Ave
28th Ave
32nd Ave
184t
h St
188t
h St
192n
d St
20th Ave
Colebrook Rd
Paci
�c H
ighw
ay
40th Ave 40th Ave
160t
h St
160t
h St
60th Ave
64th Ave
168t
h St
184t
h St
192n
d St
80th Ave
88th Ave
Harvie
Rd
160t
h St
92nd Ave
96th Ave
104th Ave
156t
h St
108th Ave
S Fraser Perimeter Rd
Woo
lridg
e Rd
Victoria Dr
Burn
s Rd
Prairie Ave
Ceda
r Dr
Coas
t Mer
idia
n Rd
Kingsway Ave
Broa
dway
St
Shau
ghne
ssy S
tWoo
dlan
d Pi
pelin
e Rd
Panorama Dr
John
son
St
Landsdowne Dr
Pine
tree
Wy
Mary Hill Bypass
Pitt
Rive
r Rd
Dewdney Trunk Rd
Harr
is R
d
Richardson Rd
McNeil Rd
East Rd
Sunn
ysid
e Rd
Ioco Rd
April
Rd
Heritage Mountain Blvd
Clarke
Rd
Como Lake Ave
Mar
iner
Wy
Lint
on S
t
Gate
nsbu
ry R
d
Austin Ave
Marine DrNorth Blu� Rd
128t
h St
20th Ave124t
h St
Bayv
iew
St
24th Ave
28th Ave
140t
h St
Cres ce
nt R
d 32nd Ave
40th Ave
Colebrook Rd
56th Ave
Stat
ion
Rd
58th Ave 148t
h St
148t
h St
64th Ave 68th Ave
72nd Ave
76th Ave76th Ave
Scot
t Rd
120t
h St
80th Ave
Kitson Pkwy
72nd Ave 140t
h St
144t
h St
152n
d St
84th Ave
128t
h St
112t
h St
84th Ave
Norde
l Wy
140t
h St
AnnacisHighway
88th Ave
92nd Ave
96th Ave
132n
d St
100th Ave
Scott
Rd
100th Ave
104th Ave
108th AveGros
venor
Rd
116th Ave
Hartley Ave
Mt S
eymou
r Rd
Deep
Cov
e Rd
Mt Seymour Pkwy
Eton St
Parker St Curtis St
Gaglardi Wy
Gera
ld A
ve
Sper
ling
St
Nort
h Rd
Canada Wy6th St
10th Ave
8th Ave
6th Ave
Queens
Ave
Deer Lake Pkwy
Gille
y Av
e
Roya
l Oak
Ave
Imperial St
Rumble St
Nels
on A
ve
Marine Dr
Marine Wy
Byrne R
d
Tyne
St
Boun
dary
Rd
Grange St
RdRiver
Derwent Wy
River Rd VantageWy
Progress Wy 80th
St
Hopcott Rd
72nd
St
60th Ave
36th Ave
64th
St
16th Ave
Boundary Bay R
dPoin
t Rob
erts
Rd
1st Ave
6th Ave
12th Ave
52nd
St
56th
St
28th Ave27B Ave
Deltaport Wy
53rd
St
Arth
ur D
r
34B Ave
Cause
way
Rive
r Rd W
62B
St
No. 6
Rd
No. 7
Rd
No. 8
Rd
Nels
on R
d
No. 9
Rd
Vulc
an W
y
Bridgeport Rd
Knight St Bridge
Granville Ave
River Rd
Blundell Rd
Francis Rd
Williams Rd
Gard
en C
ity R
d
No. 4
Rd
Shel
l Rd
Railw
ay A
ve
Westham Island Rd
Robe
rtso
n Rd
Dyke RdGi
lber
t Rd
No. 2
Rd
No. 1
Rd
Moncton St
Russ Baker W
y
Grant McConachie Wy
W 70th Ave N Kent AveSE Marine Dr
Twigg Pl
Sprott StWinston StRu
pert
St
Hold
om S
t
Berk
ley
Rd
McGill St
Dundas St
Renf
rew
St
1st Ave
Venables St
Nana
imo
St
E 41st Ave
W 57th Ave W 57th Ave
49th Ave E
Kerr
St
Ellio
t S
t
Vict
oria
Dr
Clar
k Dr
Knig
ht S
t
Fras
er S
t
Mai
n St
E 33rd Ave
E 12th Ave
Gre at Northern Wy
Denman
St
Davie St
Paci�c St
W 33rd Ave
Cam
bie
St
Oak
St
Arbu
tus
StW
Bou
leva
rd
W 49th Ave
Blen
heim
St
Dunb
ar S
t
Crow
n St
W 10th Ave
Wesbrook Mall
W 4th Ave
NW Marine Dr
Cornwall StPoint Grey Rd
Mac
dona
ld S
t
Marine Dr15th St
21st
St
Inglewood Ave
11th
St
15th
St
Stev
ens D
r
Queens AveSouth
boro
ugh
Dr
Capi
lan
o Rd
Edgemont Blvd
Welch St
Larso
n Rd
Delb
rook
E 29th St
E Gr
and
Blvd
Broo
ksba
nkAv
e
Mountain Hw
yE Esplanade Main St W Riverside Dr
E Riv
ersid
e Dr
W Esplanade
Lons
dale
Ave
Ches
ter�
eld
Ave
St G
eorg
es A
ve
W 13th St
Braemar Rd
Mou
ntai
n Hw
y
Lynn V
alley R
d
Lillo
oet R
d
W 3rd StE 3rd St
Hyannis Dr
72nd
St
Huston Rd
76th
St
Kent Ave S
Grandview Hwy
Blundell Rd
Harbourside DrHarbourside Pl
Fulton Ave
Mathers Ave
64th Ave
Rd
Ferguson Wy
Ladner Trunk Road
Blue
Mou
ntai
n St
Stav
e La
ke St
Bedw
ell Bay Rd
F
ell
Ave
E Keith Rd
Trans Canada Highway
Lougheed Highway
Simon FraserUniversity
Dollarton HwyOld
Dollarton Rd
Vulcan Wy
Port Mann Bridge
Patullo Bridge
Alex Fraser Bridge
Oak St Bridge
Lions
Gat
e Br
idge
Queensborough Bridge
Cliveden
Ave
Industrial Wy
W Yale Rd
Lick
man
Rd
Sum
as P
rairi
e Rd
Boun
dary
Rd
Inte
rpro
vinc
ial H
wy
Cole
Rd
McD
erm
ott R
d
Mar
ion
Rd
Dixo
n Rd
Pow
erho
use
Rd
Chad
sey
Rd
Sinclair Rd
Hope
dale
Rd
S Sumas Rd
Luckakuck Wy
Keith Wilson Rd
Peters Rd
W Yale Rd
Vedder Rd
Prairie Central Rd
Bailey Rd
Watson Rd Promontory Rd
Chilliwack Central Rd
1st Ave
Castleman Rd
Anni
s Rd
Chap
man
Rd
McG
rath
Rd
Ford
Rd
Gibs
on R
d
Pres
t Rd
Youn
g Rd
Banf
ord
Rd
Campbell R
iver Rd
Chi l l iw ackRiver Rd
Gilla
nder
s Rd
Vedder Mountain Rd
Yarrow Central Rd
No. 3 Rd
No. 4 RdFireclay Rd
No. 5 RdAtkinson Rd
Campbell Rd
Wells Line Rd
Dewdney Trunk Rd
Stav
e La
ke R
d
Sylve
ster
Rd
Hawkins Pickle Rd
New
ton
Rd
Eagl
e Rd
R iver Rd South
Nicomen Island Trunk Rd
Nicomen Island Trunk Rd
John
son
Rd
Athe
y RdNo 1 Rd
Chilliwack Mtn Rd
Wellington Ave
Wolfe Rd
Hope River Rd
Chilliwack Lake Rd
Lower S
umas
Mtn
Rd
Sumas Mtn Rd
Upper Sumas Mountai n Rd
Limbert Rd
McCallum Rd
Cam
eron
Rd
Brid
ge R
d
Arthur L
aing
Brid
ge
RdStraiton
Iron Workers M
emo rial Bridge
Stewardson Wy
Colu
mbia
St
Brunette Ave
Newton Rd
192n
d St
Dawson Rd
Ave
Shau
ghne
ssy S
t
St
Fraser
Wy
North
Com
mer
cial
Dr
Earle
s St
110th Ave
112th Ave
Kingsway
E Hastings Street
E Broadway
Kingsway
Gran
ville
Stre
et
W Broadway
King
Geo
rge
High
way
Fraser Highway
United Blvd
Barnet Highway
Upper
Highway
Levels
Tayl
or W
y
Haney Bypass
Fraser Highway
Trans Canada Highway
56th Ave
176t
h St
Paci
�c H
ighw
ay
Lougheed Highway
South Fraser Way
Mission-abbotsford Highw
ay
264t
h St
Alde
rgro
ve -
Bel
lingh
am H
ighw
ay
Trans C
anada Hwy
North P
arallel
South
Parallel
Sumas Way
Trans Canada Hwy
Harr
ison
Hot
Spr
ings
Rd
Lougheed Hwy
E Yale Rd
Lougheed Highway
St. Johns St
Westminster Hwy
Fras
er -
Del
ta T
hruw
ay
Richmond Annacis Highway
Cambie Rd
Alderbridge Wy
Will
ingd
on A
ve
King Edward Ave
W 41st Ave
W 12th Ave
SW Marine Dr
W 16th Ave
No. 5
Rd
Steveston Hwy
No. 3
Rd
Canada Wy
Gilm
ore
Ave
WESTHAM ISLAND
TILBURY ISLAND
ANNACISISLAND
MITCHELLISLAND
DOUGLASISLAND
BARNSTON ISLAND
MCMILLAN ISLAND
CRESCENT ISLAND
MATSQUI ISLAND
HOGISLAND
FAIRFIELDISLAND
WINDERMERE ISLAND
SEAISLAND
B
4
Notable Lease Notable Sale New Supply
Historical Performance and Forecast
Notable Sale TransactionsPURCHASER - ADDRESS PRICE APPROXIMATE
SIZE (SF)
4. Lazy Gourmet -1250 East Pender Street $7,350,000 16,240
5. Shift Health Paradigms Ltd. 2288 Clarke Drive $7,250,000 13,850
6. Andrew Sheret Holdings Ltd. - 3595 East 1st Avenue (LAND) $13,625,000 2.023
Upcoming New SupplyADDRESS NAME DEVELOPMENT CLASSIFICATION SIZE (SF) DEVELOPER/APPLICANT EXPECTED COMPLETION
A. 1249-1257 E Pender Street - Speculative - Lease 22,263 New City Contracting Ltd. Q2 2017
B. 8811 Laurel Street IntraUrban Business Park Speculative - Strata 170,000 PC Urban Q4 2017
6
-300,000
-200,000
-100,000
0
100,000
200,000
300,000
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
2014
Q1*
2014
Q2
2014
Q3
2014
Q4
2015
Q1
2015
Q2
2015
Q3
2015
Q4
2016
Q1
2016
Q2
2016
Q3F
2016
Q4F
2017
Q1F
New Supply (SF) Net Absorption (SF) Current Qtr Vacancy Rate
3
1
2A
5
Historical Performance and Forecast
3 Research & Forecast Report | Second Quarter 2016 | Metro Vancouver / Industrial | Colliers International
North VancouverNorth Vancouver’s industrial market continues to lack new supply; Q3 2013 was the most recent quarter that saw new supply come to market. Rental rates have continued on a upward trend reflecting the strong demand and limited options available.
Trends > There is virtually no available product in the 2,000 SF to 5,000 SF range and what does become available is absorbed quickly.
> Harbourview Projects Corp.’s East Esplanade project, a strata titled office and light industrial development, has been approximatley 90% pre-sold in the range of $480 PSF with more recent sales trading over $500 PSF. The flex industrial/office units range from 966 SF to 4,246 SF.
> The lack of available product for lease in combination with strong demand has continued the upward trend in rental rates. On the sales front, there are a growing number of listings with some owners opting to take advantage of the strong seller’s market.
Notable Lease TransactionsTENANT NAME - ADDRESS TYPE APPROXIMATE
SIZE (SF)
1. Arc’teryx Equipment Inc. - 2155 Dollarton Highway Renewal 17,000
Summary Statistics Q2 2015 Q2 2016 Trend
Vacancy Rate 2.2% 0.8%
YTD Net Absorption (SF) 36,261 53,110
YTD New Supply (SF) 0 0
Under Construction (SF) 0 20,000
Weighted Average Asking Net Rent ($/SF) $13.05 $14.41
CapilanoLake
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BuntzenLake
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Hatzic Lake
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Fraser
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1
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VANCOUVERINTERNATIONAL
AIRPORT
BC FERRIESTERMINAL
TSAWWASSEN
BOUNDARY BAYAIRPORT
LANGLEYAIRPORT
PITT MEADOWSAIRPORT
ABBOTSFORD INTERNATIONAL
AIRPORT
Albion Ferry
Burquitlam
Port Moody Centre
Lincoln
Coquitlam CentralInlet Centre
LougheedTown Centre
Burquitlam
Port Moody Centre Inlet CentreCoquitlam Central
Lafarge Lake - Douglas
Lincoln
LougheedTown Centre
Port Moody Centre
PittMeadows
MapleMeadows
PortHaney
MissionCity
CoquitlamCentral
PortCoquitlam
Port Moody Centre
PittMeadows
MapleMeadows
PortHaney
MissionCity
CoquitlamCentral
PortCoquitlam
KingEdward
Broadway/City Hall
Olympic Village
Yaletown/Roundhouse
Oakridge/41st Ave
Langara/49th Ave
Marine Dr
Bridgeport
Aberdeen
Lansdowne
Brighouse
TempletonSea Island
CentreYVR
Airport
VancouverCity Centre
KingEdward
Broadway/City Hall
Olympic Village
Yaletown/Roundhouse
Oakridge/41st Ave
Langara/49th Ave
Marine Dr
Bridgeport
Aberdeen
Lansdowne
Brighouse
TempletonSea Island
CentreYVR
Airport
VancouverCity Centre
Commercial
RupertRenfrew
Gilmore BrentwoodTown Centre
Holdom
Sperling/Burnaby Lake
Lake City WayProduction Way/University
Braid
Sapperton
LougheedTown Centre
VCC/Clark
Commercial
RupertRenfrew
Gilmore BrentwoodTown Centre
Holdom
Sperling/Burnaby Lake
Lake City WayProduction Way/University
Braid
Sapperton
LougheedTown Centre
VCC/Clark
Burrard
Stadium/Chinatown
Main St
Broadway
Nanaimo
29th Ave
Joyce
Patterson
Metrotown
RoyalOak
Edmonds
22nd StNewWestminster
ColumbiaScott Rd
Gateway
SurreyCentral
King George
Granville
WaterfrontBurrard
Stadium/Chinatown
Main St
Broadway
Nanaimo
29th Ave
Joyce
Patterson
Metrotown
RoyalOak
Edmonds
22nd StNewWestminster
ColumbiaScott Rd
Gateway
SurreyCentral
King George
Granville
Waterfront
Lonsdale QuayLonsdale Quay
Delta
Surrey
Port Moody
Burnaby
WestVancouver
NorthVancouver
Richmond
CHILLIWACK
AGASSIZNEWWESTMINSTER
Vancouver
LangleyLangley
Port Coquitlam
Coquitlam
PittMeadows
MapleRidge
Mission
Abbotsford
White Rock
George Massey Tunnel
Hammond Rd
Fraser Wy
Boundary Rd
Vye Rd
Wha
tcom
Rd
McC
allu
m R
d
Marshall Rd
Huntington Rd
Pear
donv
ille R
d
King Rd
Ross
Rd
296t
h St
328t
h St
320t
h St
304t
h St
Mt.
Lehm
an R
d Clea
rbro
ok R
d
McM
illan
RdOld Yale
Clayburn Rd
Old
Bell
Rd
56th Ave
Clayburn Rd
Rive
rsid
e Rd
Fore Rd 60th Ave
44 Ave
16th Ave
8th Ave
20th Ave
Page Rd
Glad
win
Rd
48th Ave48th Ave
40th Ave
Ferndale Ave
Richards Ave
Dale Rd
Farms Rd
Hartley Rd
Dewdney Trunk Rd
1st Ave
7th Ave
14th Ave
22nd Ave
Ceda
r St
Farm
s Rd
Spra
tt Rd
Stav
e La
ke R
d
Hur
d St
Wre
n St
Clay
St
Dewdney Trunk Rd
Keystone Ave
Tyler
Wils
on S
t
Hay
war
d St
Duke R
d
280t
h St
80th Ave
McTavish Rd
Satc
hell
St
Harris Rd
Townshipline Rd
Downes Rd
Brad
ner
Rd28
8th
St
Lefe
uvre
Rd
8th Ave
0 Ave Boundary Rd
272n
d St
8th Ave
256t
h St
248t
h St
272n
d St
56th Ave
272n
d St
280t
h St
112th Ave
100th Ave
112th Ave
256t
h St
256t
h St
264t
h St
248t
h St
112th Ave
124th Ave
Dewdney Trunk Rd
102nd Ave
240t
h St
128th Ave128th Ave
232n
d St
227t
h St
224t
h St
Glov
er R
d
Wilson Cr
80th Ave
240t
h St
Brow
n Rd
72nd Ave
Telegraph Tr
Fern
Cr
132nd Ave
144 th St
Neav
es R
d
Laity
St
216t
h St
River Rd
203r
d St
207t
h St
Gold
en E
ars
Brid
ge
208t
h St
100th Ave
96th Ave
88th Ave
Telegraph Tr
216t
h St
To
pham
Rd
200t
h St
72nd Ave 72nd Ave
208t
h St
216t
h St
Glover
Rd
Logan Ave
HWY 10BYPASS
48th Ave
Old Yale Rd
40th Ave
Douglas Cr
208t
h St
53rd Ave
203r
d St
Grade Cr
200t
h St
208t
h St
216t
h St
32nd Ave
240t
h St
24th Ave 24th Ave
224t
h St
232n
d St
16th Ave
176t
h St
0 Ave Boundary Rd
176t
h St
172n
d St
Campbell River Rd
16th Ave
168t
h St
8th Ave
Buena Vista Ave
152n
d St 24th Ave
20th Ave
28th Ave
32nd Ave
184t
h St
188t
h St
192n
d St
20th Ave
Colebrook Rd
Paci
�c H
ighw
ay
40th Ave 40th Ave
160t
h St
160t
h St
60th Ave
64th Ave
168t
h St
184t
h St
192n
d St
80th Ave
88th Ave
Harvie
Rd
160t
h St
92nd Ave
96th Ave
104th Ave
156t
h St
108th Ave
S Fraser Perimeter Rd
Woo
lridg
e Rd
Victoria Dr
Burn
s Rd
Prairie Ave
Ceda
r DrCo
ast M
erid
ian
Rd
Kingsway Ave
Broa
dway
St
Shau
ghne
ssy S
tWoo
dlan
d Pi
pelin
e Rd
Panorama Dr
John
son
St
Landsdowne Dr
Pine
tree
Wy
Mary Hill Bypass
Pitt
Rive
r Rd
Dewdney Trunk Rd
Har
ris R
d
Richardson Rd
McNeil Rd
East Rd
Sunn
ysid
e Rd
Ioco Rd
April
Rd
Heritage Mountain Blvd
Clarke
Rd
Como Lake Ave
Mar
iner
Wy
Lint
on S
t
Gate
nsbu
ry R
d
Austin Ave
Marine DrNorth Blu� Rd
128t
h St
20th Ave124t
h St
Bayv
iew St
24th Ave
28th Ave
140t
h St
Cres cent
R
d 32nd Ave
40th Ave
Colebrook Rd
56th Ave
Stat
ion
Rd
58th Ave 148t
h St
148t
h St
64th Ave 68th Ave
72nd Ave
76th Ave76th Ave
Scot
t Rd
120t
h St
80th Ave
Kitson Pkwy
72nd Ave 140t
h St
144t
h St
152n
d St
84th Ave
128t
h St
112t
h St
84th Ave
Norde
l Wy
140t
h St
AnnacisHighway
88th Ave
92nd Ave
96th Ave
132n
d St
100th Ave
Scott
Rd
100th Ave
104th Ave
108th AveGros
venor
Rd
116th Ave
Hartley Ave
Mt S
eym
our R
d
Deep
Cov
e Rd
Mt Seymour Pkwy
Eton St
Parker St Curtis St
Gaglardi Wy
Gera
ld A
ve
Sper
ling
St
Nort
h Rd
Canada Wy6th St
10th Ave
8th Ave
6th Ave
Queens
Ave
Deer Lake Pkwy
Gille
y Av
e
Roya
l Oak
Ave
Imperial St
Rumble St
Nels
on A
ve
Marine Dr
Marine Wy
Byrne R
d
Tyne
St
Boun
dary
Rd
Grange St
RdRiver
Derwent Wy
River Rd VantageWy
Progress Wy 80th
St
Hopcott Rd
72nd
St
60th Ave
36th Ave
64th
St
16th Ave
Boundary Bay R
dPoin
t Rob
erts
Rd
1st Ave
6th Ave
12th Ave
52nd
St
56th
St
28th Ave27B Ave
Deltaport Wy
53rd
St
Arth
ur D
r
34B Ave
Caus
eway
Rive
r Rd W
62B
St
No. 6
Rd
No. 7
Rd
No. 8
Rd
Nels
on R
d
No. 9
Rd
Vulc
an W
yBridgeport Rd
Knight St Bridge
Granville Ave
River Rd
Blundell Rd
Francis Rd
Williams Rd
Gard
en C
ity R
d
No. 4
Rd
Shel
l Rd
Railw
ay A
ve
Westham Island Rd
Robe
rtso
n Rd
Dyke Rd
Gilb
ert R
d
No. 2
Rd
No. 1
Rd
Moncton St
Russ Baker W
y
Grant McConachie Wy
W 70th Ave N Kent AveSE Marine Dr
Twigg Pl
Sprott StWinston StRu
pert
St
Hol
dom
St
Berk
ley
Rd
McGill St
Dundas St
Renf
rew
St
1st Ave
Venables St
Nana
imo
St
E 41st Ave
W 57th Ave W 57th Ave
49th Ave E
Kerr
St
Ellio
t S
t
Vict
oria
Dr
Clar
k Dr
Knig
ht S
t
Fras
er S
t
Mai
n St
E 33rd Ave
E 12th Ave
Gre at Northern Wy
Denman
St
Davie St
Paci�c St
W 33rd Ave
Cam
bie
St
Oak
St
Arbu
tus
StW
Bou
leva
rd
W 49th Ave
Blen
heim
St
Dunb
ar S
t
Crow
n St
W 10th Ave
Wesbrook Mall
W 4th Ave
NW Marine Dr
Cornwall StPoint Grey Rd
Mac
dona
ld S
t
Marine Dr15th St
21st
St
Inglewood Ave
11th
St
15th
St
Stev
ens D
r
Queens AveSouth
boro
ugh
Dr
Capi
lan
o Rd
Edgemont Blvd
Welch St
Larso
n Rd
Delb
rook
E 29th St
E Gr
and
Blvd
Broo
ksba
nkAv
e
Mountain H
wyE Esplanade Main St W
Riverside Dr
E Ri
versi
de D
r
W Esplanade
Lons
dale
Ave
Ches
ter�
eld
Ave
St G
eorg
es A
ve
W 13th St
Braemar Rd
Mou
ntai
n H
wy
Lynn V
alley R
d
Lillo
oet R
d
W 3rd StE 3rd St
Hyannis Dr
72nd
St
Huston Rd
76th
St
Kent Ave S
Grandview Hwy
Blundell Rd
Harbourside DrHarbourside Pl
Fulton Ave
Mathers Ave
64th Ave
Rd
Ferguson Wy
Ladner Trunk Road
Blue
Mou
ntai
n St
Stav
e La
ke St
Bedw
ell Bay Rd
F
ell
Ave
E Keith Rd
Trans Canada Highway
Lougheed Highway
Simon FraserUniversity
Dollarton HwyOld
Dollarton Rd
Vulcan Wy
Port Mann Bridge
Patullo Bridge
Alex Fraser Bridge
Oak St Bridge
Lion
s Gat
e Br
idge
Queensborough Bridge
Cliveden
Ave
Industrial Wy
W Yale Rd
Lick
man
Rd
Sum
as P
rairi
e Rd
Boun
dary
Rd
Inte
rpro
vinc
ial H
wy
Cole
Rd
McD
erm
ott R
d
Mar
ion
Rd
Dixo
n Rd
Pow
erho
use
Rd
Chad
sey
Rd
Sinclair Rd
Hop
edal
e Rd
S Sumas Rd
Luckakuck Wy
Keith Wilson Rd
Peters Rd
W Yale Rd
Vedder Rd
Prairie Central Rd
Bailey Rd
Watson Rd Promontory Rd
Chilliwack Central Rd
1st Ave
Castleman Rd
Anni
s Rd
Chap
man
Rd
McG
rath
Rd
Ford
Rd
Gibs
on R
d
Pres
t Rd
Youn
g Rd
Banf
ord
Rd
Campbell R
iver Rd
Chi l l iw ackRiver Rd
Gilla
nder
s Rd
Vedder Mountain Rd
Yarrow Central Rd
No. 3 Rd
No. 4 RdFireclay Rd
No. 5 RdAtkinson Rd
Campbell Rd
Wells Line Rd
Dewdney Trunk Rd
Stav
e La
ke R
d
Sylve
ster
Rd
Hawkins Pickle Rd
New
ton
Rd
Eagl
e Rd
R iver Rd South
Nicomen Island Trunk Rd
Nicomen Island Trunk Rd
John
son
Rd
Athe
y RdNo 1 Rd
Chilliwack Mtn Rd
Wellington Ave
Wolfe Rd
Hope River Rd
Chilliwack Lake Rd
Lower S
umas
Mtn
Rd
Sumas Mtn Rd
Upper Sumas Mountai n Rd
Limbert Rd
McCallum Rd
Cam
eron
Rd
Brid
ge R
d
Arthur L
aing
Brid
ge
RdStraiton
Iron Workers M
emo rial Bridge
Stewardson Wy
Colu
mbi
a St
Brunette Ave
Newton Rd
192n
d St
Dawson Rd
Ave
Shau
ghne
ssy S
t
St
Fraser
Wy
North
Com
mer
cial
Dr
Earle
s St
110th Ave
112th Ave
Kingsway
E Hastings Street
E Broadway
Kingsway
Gran
ville
Str
eet
W Broadway
King
Geo
rge
Hig
hway
Fraser Highway
United Blvd
Barnet Highway
Upper
Highway
Levels
Tayl
or W
y
Haney Bypass
Fraser Highway
Trans Canada Highway
56th Ave
176t
h St
Paci
�c H
ighw
ay
Lougheed Highway
South Fraser Way
Mission-abbotsford H
ighway
264t
h St
Alde
rgro
ve -
Bel
lingh
am H
ighw
ay
Trans C
anada Hwy
North P
arallel
South
Parallel
Sumas Way
Trans Canada Hwy
Har
rison
Hot
Spr
ings
Rd
Lougheed Hwy
E Yale Rd
Lougheed Highway
St. Johns St
Westminster Hwy
Fras
er -
Del
ta T
hruw
ay
Richmond Annacis Highway
Cambie Rd
Alderbridge Wy
Will
ingd
on A
ve
King Edward Ave
W 41st Ave
W 12th Ave
SW Marine Dr
W 16th Ave
No. 5
Rd
Steveston Hwy
No. 3
Rd
Canada Wy
Gilm
ore
Ave
WESTHAM ISLAND
TILBURY ISLAND
ANNACISISLAND
MITCHELLISLAND
DOUGLASISLAND
BARNSTON ISLAND
MCMILLAN ISLAND
CRESCENT ISLAND
MATSQUI ISLAND
HOGISLAND
FAIRFIELDISLAND
WINDERMERE ISLAND
SEAISLAND
Notable Lease Notable Sale New Supply
Notable Sale TransactionsPURCHASER - ADDRESS PRICE APPROXIMATE
SIZE (SF)
2. PC Urban - 217-219 East 1st Ave $1,375,000 0.206 (Ac)
Upcoming New SupplyADDRESS NAME DEVELOPMENT CLASSIFICATION SIZE (SF) DEVELOPER EXPECTED COMPLETION
A. 350 & 370 East Esplanade East Esplanade Speculative - Strata 20,000 Harborview Projects Corp. Q1 2017
1A
-100,000
-80,000
-60,000
-40,000
-20,000
0
20,000
40,000
60,000
80,000
100,000
120,000
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
2014
Q1*
2014
Q2
2014
Q3
2014
Q4
2015
Q1
2015
Q2
2015
Q3
2015
Q4
2016
Q1
2016
Q2
2016
Q3F
2016
Q4F
2017
Q1F
New Supply (SF) Net Absorption (SF) Current Qtr Vacancy Rate
2
The above land sale is now a build-to-suit project for Papertech by PC Urban.
4Research & Forecast Report | Second Quarter 2016 | Metro Vancouver / Industrial | Colliers International
CapilanoLake
India
n Arm
BuntzenLake
Pitt Lake
Hatzic Lake
Stave Lake
English Bay
Burrard Inlet
Strait Of GeorgiaMud Bay
Fraser River
CultusLake
Harrison Lake
Harrison Bay
Fraser
River
Fraser River
C.P.
R.
C.N.R.
C.P.R.
C.N.R.
VIA RAIL
SOUTHERN
RAILWAY
C.N.
R.
B.C. RAIL
C.N.R.
C.P.R.
C.P.R.
C.N.
R.
C.N.R.
C.N.R.
SOUTHERN RAILWAY
B.N.R.
B.N.R.
SOUTHERN RAILWAY
BC RAIL
C.N.
R.
Sout
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Per
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17A
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CANADAU.S.A.
CANADAU.S.A.
CANADAU.S.A.
University of British Columbia
1
1
1
1
1
1
99
17
VANCOUVERINTERNATIONAL
AIRPORT
BC FERRIESTERMINAL
TSAWWASSEN
BOUNDARY BAYAIRPORT
LANGLEYAIRPORT
PITT MEADOWSAIRPORT
ABBOTSFORD INTERNATIONAL
AIRPORT
Albion Ferry
Burquitlam
Port Moody Centre
Lincoln
Coquitlam CentralInlet Centre
LougheedTown Centre
Burquitlam
Port Moody Centre Inlet CentreCoquitlam Central
Lafarge Lake - Douglas
Lincoln
LougheedTown Centre
Port Moody Centre
PittMeadows
MapleMeadows
PortHaney
MissionCity
CoquitlamCentral
PortCoquitlam
Port Moody Centre
PittMeadows
MapleMeadows
PortHaney
MissionCity
CoquitlamCentral
PortCoquitlam
KingEdward
Broadway/City Hall
Olympic Village
Yaletown/Roundhouse
Oakridge/41st Ave
Langara/49th Ave
Marine Dr
Bridgeport
Aberdeen
Lansdowne
Brighouse
TempletonSea Island
CentreYVR
Airport
VancouverCity Centre
KingEdward
Broadway/City Hall
Olympic Village
Yaletown/Roundhouse
Oakridge/41st Ave
Langara/49th Ave
Marine Dr
Bridgeport
Aberdeen
Lansdowne
Brighouse
TempletonSea Island
CentreYVR
Airport
VancouverCity Centre
Commercial
RupertRenfrew
Gilmore BrentwoodTown Centre
Holdom
Sperling/Burnaby Lake
Lake City WayProduction Way/University
Braid
Sapperton
LougheedTown Centre
VCC/Clark
Commercial
RupertRenfrew
Gilmore BrentwoodTown Centre
Holdom
Sperling/Burnaby Lake
Lake City WayProduction Way/University
Braid
Sapperton
LougheedTown Centre
VCC/Clark
Burrard
Stadium/Chinatown
Main St
Broadway
Nanaimo
29th Ave
Joyce
Patterson
Metrotown
RoyalOak
Edmonds
22nd StNewWestminster
ColumbiaScott Rd
Gateway
SurreyCentral
King George
Granville
WaterfrontBurrard
Stadium/Chinatown
Main St
Broadway
Nanaimo
29th Ave
Joyce
Patterson
Metrotown
RoyalOak
Edmonds
22nd StNewWestminster
ColumbiaScott Rd
Gateway
SurreyCentral
King George
Granville
Waterfront
Lonsdale QuayLonsdale Quay
Delta
Surrey
Port Moody
Burnaby
WestVancouver
NorthVancouver
Richmond
CHILLIWACK
AGASSIZNEWWESTMINSTER
Vancouver
LangleyLangley
Port Coquitlam
Coquitlam
PittMeadows
MapleRidge
Mission
Abbotsford
White Rock
George Massey Tunnel
Hammond Rd
Fraser Wy
Boundary Rd
Vye Rd
Wha
tcom
Rd
McC
allu
m R
d
Marshall Rd
Huntington Rd
Pear
donv
ille R
d
King Rd
Ross
Rd
296t
h St
328t
h St
320t
h St
304t
h St
Mt.
Lehm
an R
d Clea
rbro
ok R
d
McM
illan
RdOld Yale
Clayburn Rd
Old
Bell
Rd
56th Ave
Clayburn Rd
Rive
rsid
e Rd
Fore Rd 60th Ave
44 Ave
16th Ave
8th Ave
20th Ave
Page Rd
Glad
win
Rd
48th Ave48th Ave
40th Ave
Ferndale Ave
Richards Ave
Dale Rd
Farms Rd
Hartley Rd
Dewdney Trunk Rd
1st Ave
7th Ave
14th Ave
22nd Ave
Ceda
r St
Farm
s Rd
Spra
tt Rd
Stav
e La
ke R
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Hur
d St
Wre
n St
Clay
St
Dewdney Trunk Rd
Keystone Ave
Tyler
Wils
on S
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Hay
war
d St
Duke R
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280t
h St
80th Ave
McTavish Rd
Satc
hell
St
Harris Rd
Townshipline Rd
Downes Rd
Brad
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Rd28
8th
St
Lefe
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Rd
8th Ave
0 Ave Boundary Rd
272n
d St
8th Ave
256t
h St
248t
h St
272n
d St
56th Ave
272n
d St
280t
h St
112th Ave
100th Ave
112th Ave
256t
h St
256t
h St
264t
h St
248t
h St
112th Ave
124th Ave
Dewdney Trunk Rd
102nd Ave
240t
h St
128th Ave128th Ave
232n
d St
227t
h St
224t
h St
Glov
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d
Wilson Cr
80th Ave
240t
h St
Brow
n Rd
72nd Ave
Telegraph Tr
Fern
Cr
132nd Ave
144 th St
Neav
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Laity
St
216t
h St
River Rd
203r
d St
207t
h St
Gold
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Brid
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208t
h St
100th Ave
96th Ave
88th Ave
Telegraph Tr
216t
h St
To
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Rd
200t
h St
72nd Ave 72nd Ave
208t
h St
216t
h St
Glover
Rd
Logan Ave
HWY 10BYPASS
48th Ave
Old Yale Rd
40th Ave
Douglas Cr
208t
h St
53rd Ave
203r
d St
Grade Cr
200t
h St
208t
h St
216t
h St
32nd Ave
240t
h St
24th Ave 24th Ave
224t
h St
232n
d St
16th Ave
176t
h St
0 Ave Boundary Rd
176t
h St
172n
d St
Campbell River Rd
16th Ave
168t
h St
8th Ave
Buena Vista Ave
152n
d St 24th Ave
20th Ave
28th Ave
32nd Ave
184t
h St
188t
h St
192n
d St
20th Ave
Colebrook Rd
Paci
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ighw
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40th Ave 40th Ave
160t
h St
160t
h St
60th Ave
64th Ave
168t
h St
184t
h St
192n
d St
80th Ave
88th Ave
Harvie
Rd
160t
h St
92nd Ave
96th Ave
104th Ave
156t
h St
108th Ave
S Fraser Perimeter Rd
Woo
lridg
e Rd
Victoria Dr
Burn
s Rd
Prairie Ave
Ceda
r DrCo
ast M
erid
ian
Rd
Kingsway Ave
Broa
dway
St
Shau
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Panorama Dr
John
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St
Landsdowne Dr
Pine
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Wy
Mary Hill Bypass
Pitt
Rive
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Dewdney Trunk Rd
Har
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d
Richardson Rd
McNeil Rd
East Rd
Sunn
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Ioco Rd
April
Rd
Heritage Mountain Blvd
Clarke
Rd
Como Lake Ave
Mar
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Wy
Lint
on S
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Gate
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Austin Ave
Marine DrNorth Blu� Rd
128t
h St
20th Ave124t
h St
Bayv
iew
St
24th Ave
28th Ave
140t
h St
Cres cent
R
d 32nd Ave
40th Ave
Colebrook Rd
56th Ave
Stat
ion
Rd
58th Ave 148t
h St
148t
h St
64th Ave 68th Ave
72nd Ave
76th Ave76th Ave
Scot
t Rd
120t
h St
80th Ave
Kitson Pkwy
72nd Ave 140t
h St
144t
h St
152n
d St
84th Ave
128t
h St
112t
h St
84th Ave
Norde
l Wy
140t
h St
AnnacisHighway
88th Ave
92nd Ave
96th Ave
132n
d St
100th Ave
Scott
Rd
100th Ave
104th Ave
108th AveGros
venor
Rd
116th Ave
Hartley Ave
Mt S
eym
our R
d
Deep
Cov
e Rd
Mt Seymour Pkwy
Eton St
Parker St Curtis St
Gaglardi Wy
Gera
ld A
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Sper
ling
St
Nort
h Rd
Canada Wy6th St
10th Ave
8th Ave
6th Ave
Queens
Ave
Deer Lake Pkwy
Gille
y Av
e
Roya
l Oak
Ave
Imperial St
Rumble St
Nels
on A
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Marine Dr
Marine Wy
Byrne R
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Tyne
St
Boun
dary
Rd
Grange St
RdRiver
Derwent Wy
River Rd VantageWy
Progress Wy 80th
St
Hopcott Rd
72nd
St
60th Ave
36th Ave
64th
St
16th Ave
Boundary Bay R
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1st Ave
6th Ave
12th Ave
52nd
St
56th
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28th Ave27B Ave
Deltaport Wy
53rd
St
Arth
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34B Ave
Caus
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62B
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No. 6
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No. 7
Rd
No. 8
Rd
Nels
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No. 9
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Bridgeport Rd
Knight St BridgeGranville Ave
River Rd
Blundell Rd
Francis Rd
Williams Rd
Gard
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No. 4
Rd
Shel
l Rd
Railw
ay A
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Westham Island Rd
Robe
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n Rd
Dyke Rd
Gilb
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No. 2
Rd
No. 1
Rd
Moncton St
Russ Baker W
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Grant McConachie Wy
W 70th Ave N Kent AveSE Marine Dr
Twigg Pl
Sprott StWinston StRu
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St
Hol
dom
St
Berk
ley
Rd
McGill St
Dundas St
Renf
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St
1st Ave
Venables St
Nana
imo
St
E 41st Ave
W 57th Ave W 57th Ave
49th Ave E
Kerr
St
Ellio
t S
t
Vict
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Dr
Clar
k Dr
Knig
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Fras
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Mai
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E 33rd Ave
E 12th Ave
Gre at Northern Wy
Denman
St
Davie St
Paci�c St
W 33rd Ave
Cam
bie
St
Oak
St
Arbu
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StW
Bou
leva
rd
W 49th Ave
Blen
heim
St
Dunb
ar S
t
Crow
n St
W 10th Ave
Wesbrook Mall
W 4th Ave
NW Marine Dr
Cornwall StPoint Grey Rd
Mac
dona
ld S
t
Marine Dr15th St
21st
St
Inglewood Ave
11th
St
15th
St
Stev
ens D
r
Queens AveSouth
boro
ugh
Dr
Capi
lan
o Rd
Edgemont Blvd
Welch St
Larso
n Rd
Delb
rook
E 29th St
E Gr
and
Blvd
Broo
ksba
nkAv
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Mountain H
wyE Esplanade Main St W
Riverside Dr
E Ri
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W Esplanade
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St G
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W 13th St
Braemar Rd
Mou
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wy
Lynn V
alley R
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Lillo
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W 3rd StE 3rd St
Hyannis Dr
72nd
St
Huston Rd
76th
St
Kent Ave S
Grandview Hwy
Blundell Rd
Harbourside DrHarbourside Pl
Fulton Ave
Mathers Ave
64th Ave
Rd
Ferguson Wy
Ladner Trunk Road
Blue
Mou
ntai
n St
Stav
e La
ke St
Bedw
ell Bay Rd
F
ell
Ave
E Keith Rd
Trans Canada Highway
Lougheed Highway
Simon FraserUniversity
Dollarton HwyOld
Dollarton Rd
Vulcan Wy
Port Mann Bridge
Patullo Bridge
Alex Fraser Bridge
Oak St Bridge
Lion
s Gat
e Br
idge
Queensborough Bridge
Cliveden
Ave
Industrial Wy
W Yale Rd
Lick
man
Rd
Sum
as P
rairi
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Boun
dary
Rd
Inte
rpro
vinc
ial H
wy
Cole
Rd
McD
erm
ott R
d
Mar
ion
Rd
Dixo
n Rd
Pow
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use
Rd
Chad
sey
Rd
Sinclair Rd
Hop
edal
e Rd
S Sumas Rd
Luckakuck Wy
Keith Wilson Rd
Peters Rd
W Yale Rd
Vedder Rd
Prairie Central Rd
Bailey Rd
Watson Rd Promontory Rd
Chilliwack Central Rd
1st Ave
Castleman Rd
Anni
s Rd
Chap
man
Rd
McG
rath
Rd
Ford
Rd
Gibs
on R
d
Pres
t Rd
Youn
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Banf
ord
Rd
Campbell R
iver Rd
Chi l l iw ackRiver Rd
Gilla
nder
s Rd
Vedder Mountain Rd
Yarrow Central Rd
No. 3 Rd
No. 4 RdFireclay Rd
No. 5 RdAtkinson Rd
Campbell Rd
Wells Line Rd
Dewdney Trunk Rd
Stav
e La
ke R
d
Sylve
ster
Rd
Hawkins Pickle Rd
New
ton
Rd
Eagl
e Rd
R iver Rd South
Nicomen Island Trunk Rd
Nicomen Island Trunk Rd
John
son
Rd
Athe
y RdNo 1 Rd
Chilliwack Mtn Rd
Wellington Ave
Wolfe Rd
Hope River Rd
Chilliwack Lake Rd
Lower S
umas
Mtn
Rd
Sumas Mtn Rd
Upper Sumas Mountai n Rd
Limbert Rd
McCallum Rd
Cam
eron
Rd
Brid
ge R
d
Arthur L
aing
Brid
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RdStraiton
Iron Workers M
emo rial Bridge
Stewardson Wy
Colu
mbi
a St
Brunette Ave
Newton Rd
192n
d St
Dawson Rd
Ave
Shau
ghne
ssy S
t
St
Fraser
Wy
North
Com
mer
cial
Dr
Earle
s St
110th Ave
112th Ave
Kingsway
E Hastings Street
E Broadway
Kingsway
Gran
ville
Str
eet
W Broadway
King
Geo
rge
Hig
hway
Fraser Highway
United Blvd
Barnet Highway
Upper
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Haney Bypass
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Trans Canada Highway
56th Ave
176t
h St
Paci
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South Fraser Way
Mission-abbotsford H
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264t
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North P
arallel
South
Parallel
Sumas Way
Trans Canada Hwy
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Spr
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Rd
Lougheed Hwy
E Yale Rd
Lougheed Highway
St. Johns St
Westminster Hwy
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er -
Del
ta T
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ayRichmond Annacis Highway
Cambie Rd
Alderbridge Wy
Will
ingd
on A
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King Edward Ave
W 41st Ave
W 12th Ave
SW Marine Dr
W 16th Ave
No. 5
Rd
Steveston Hwy
No. 3
Rd
Canada Wy
Gilm
ore
Ave
WESTHAM ISLAND
TILBURY ISLAND
ANNACISISLAND
MITCHELLISLAND
DOUGLASISLAND
BARNSTON ISLAND
MCMILLAN ISLAND
CRESCENT ISLAND
MATSQUI ISLAND
HOGISLAND
FAIRFIELDISLAND
WINDERMERE ISLAND
SEAISLAND
B
Burnaby & New WestminsterThe Burnaby and New Westminster industrial markets are experiencing a period of extreme low vacancy. However, there is considerable construction set to complete in the short-term, including Building 3 of Oxford Properties’ Queensborough Logistics Park (415 Boyne Street, New Westminster). Building 3 comprises 299,383 SF of high-cube distribution space planned for completion in September 2016; currently there is 223,009 SF of available space.
Trends > Approximately 1.3 million square feet of new supply is under construction, all of which are speculative projects; approximately 860,000 square feet of this space is expected to complete in the next 6 months in Burnaby and New Westminster.
> Major projects include Oxford’s Queensborough Logistics Park and Riverbend Business Park as well as Adera’s Eastlake Campus.
> Strata remains in high demand: Beedie’s Crescent Business Centre 1 completely presold with Crescent Business Centre 2 planned for a Q4 2017 completion. Conwest’s 7337 NFW is sold out.
Notable Lease TransactionsTENANT NAME - ADDRESS TYPE APPROXIMATE
SIZE (SF)
1. Sim Video International - 8355 Riverbend Court Direct 82,080
2. Ames Tile & Stone - 415 Boyne Street, New West Direct 76,374
3. Western One Rentals & Sales - 5450 Byrne Road, Burnaby Direct 55,000
Summary Statistics Q2 2015 Q2 2016 Trend
Vacancy Rate 2.1% 1.2%
YTD Net Absorption (SF) 706,816 396,724
YTD New Supply (SF) 329,610 21,000
Under Construction (SF) 580,872 1,393,243
Weighted Average Asking Net Rent ($/SF) $7.97 $8.31
CA
Notable Lease Notable Sale New Supply
Upcoming New SupplyADDRESS NAME DEVELOPMENT CLASSIFICATION SIZE (SF) DEVELOPER EXPECTED COMPLETION
A. 7337 North Fraser Way, Burnaby 7337 NFW Speculative - Strata 121,347 Conwest Group of Companies Q3 2016
B. 8218 North Fraser Way, Burnaby Crescent Business Centre Speculative - Strata 122,114 Beedie Development Group Q3 2016
C. 415 Boyne Street, New Westminster Queensborough Logistics Park - Building 3 Speculative 299,383 Oxford Properties Group Q3 2016
D. 8255/8360 Wiggins St. & 5279 Riverbend Dr. Riverbend Business Park (Bldg 2 & 4) Speculative 327,317 Oxford Properties Group Q3 2017
Notable Sale TransactionsPURCHASER - ADDRESS PRICE APPROXIMATE
SIZE (SF)
4. Polar Bear Services Inc. - 7435-7441 Lowland Drive $4,165,000 32,000
5. Anderson Brothers Trucking Ltd. - 7088 Merritt Ave. $1,785,000 4,606
6. Undisclosed - 7815 North Fraser Way
Over Asking $5,950,000 (List Price)
23,000
4
5
-400,000
-200,000
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
2014
Q1*
2014
Q2
2014
Q3
2014
Q4
2015
Q1
2015
Q2
2015
Q3
2015
Q4
2016
Q1
2016
Q2
2016
Q3F
2016
Q4F
2017
Q1F
2017
Q2F
New Supply (SF) Net Absorption (SF) Current Qtr Vacancy Rate
Historical Performance and Forecast
6 D1
23
-200,000
-100,000
0
100,000
200,000
300,000
400,000
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
2014
Q1*
2014
Q2
2014
Q3
2014
Q4
2015
Q1
2015
Q2
2015
Q3
2015
Q4
2016
Q1
2016
Q2
2016
Q3F
2016
Q4F
2017
Q1F
2017
Q2F
New Supply (SF) Net Absorption (SF) Current Qtr Vacancy Rate
5 Research & Forecast Report | Second Quarter 2016 | Metro Vancouver / Industrial | Colliers International
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h St
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h St
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h St
Glov
er R
d
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240t
h St
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n Rd
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Neav
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d
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216t
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River Rd
203r
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h St
Gold
en E
ars
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ge
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h St
100th Ave
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216t
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pham
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h St
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h St
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h St
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Woo
lridg
e Rd
Victoria Dr
Burn
s Rd
Prairie Ave
Ceda
r DrCo
ast M
erid
ian
Rd
Kingsway Ave
Broa
dway
St
Shau
ghne
ssy S
tWoo
dlan
d Pi
pelin
e Rd
Panorama Dr
John
son
St
Landsdowne Dr
Pine
tree
Wy
Mary Hill Bypass
Pitt
Rive
r Rd
Dewdney Trunk Rd
Har
ris R
d
Richardson Rd
McNeil Rd
East Rd
Sunn
ysid
e Rd
Ioco Rd
April
Rd
Heritage Mountain Blvd
Clarke
Rd
Como Lake Ave
Mar
iner
Wy
Lint
on S
t
Gate
nsbu
ry R
d
Austin Ave
Marine DrNorth Blu� Rd
128t
h St
20th Ave124t
h St
Bayv
iew
St
24th Ave
28th Ave
140t
h St
Cres cent
R
d 32nd Ave
40th Ave
Colebrook Rd
56th Ave
Stat
ion
Rd
58th Ave 148t
h St
148t
h St
64th Ave 68th Ave
72nd Ave
76th Ave76th Ave
Scot
t Rd
120t
h St
80th Ave
Kitson Pkwy
72nd Ave 140t
h St
144t
h St
152n
d St
84th Ave
128t
h St
112t
h St
84th Ave
Norde
l Wy
140t
h St
AnnacisHighway
88th Ave
92nd Ave
96th Ave
132n
d St
100th Ave
Scott
Rd
100th Ave
104th Ave
108th AveGros
venor
Rd
116th Ave
Hartley Ave
Mt S
eym
our R
d
Deep
Cov
e Rd
Mt Seymour Pkwy
Eton St
Parker St Curtis St
Gaglardi Wy
Gera
ld A
ve
Sper
ling
St
Nort
h Rd
Canada Wy6th St
10th Ave
8th Ave
6th Ave
Queens
Ave
Deer Lake Pkwy
Gille
y Av
e
Roya
l Oak
Ave
Imperial St
Rumble St
Nels
on A
ve
Marine Dr
Marine Wy
Byrne R
d
Tyne
St
Boun
dary
Rd
Grange St
RdRiver
Derwent Wy
River Rd VantageWy
Progress Wy 80th
St
Hopcott Rd
72nd
St
60th Ave
36th Ave
64th
St
16th Ave
Boundary Bay R
dPoin
t Rob
erts
Rd
1st Ave
6th Ave
12th Ave
52nd
St
56th
St
28th Ave27B Ave
Deltaport Wy
53rd
St
Arth
ur D
r
34B Ave
Caus
eway
Rive
r Rd W
62B
St
No. 6
Rd
No. 7
Rd
No. 8
Rd
Nels
on R
d
No. 9
Rd
Vulc
an W
y
Bridgeport Rd
Knight St Bridge
Granville Ave
River Rd
Blundell Rd
Francis Rd
Williams Rd
Gard
en C
ity R
d
No. 4
Rd
Shel
l Rd
Railw
ay A
ve
Westham Island Rd
Robe
rtso
n Rd
Dyke Rd
Gilb
ert R
d
No. 2
Rd
No. 1
Rd
Moncton St
Russ Baker W
y
Grant McConachie Wy
W 70th Ave N Kent AveSE Marine Dr
Twigg Pl
Sprott StWinston StRu
pert
St
Hol
dom
St
Berk
ley
Rd
McGill St
Dundas St
Renf
rew
St
1st Ave
Venables St
Nana
imo
St
E 41st Ave
W 57th Ave W 57th Ave
49th Ave E
Kerr
St
Ellio
t S
t
Vict
oria
Dr
Clar
k Dr
Knig
ht S
t
Fras
er S
t
Mai
n St
E 33rd Ave
E 12th Ave
Gre at Northern Wy
Denman
St
Davie St
Paci�c St
W 33rd Ave
Cam
bie
St
Oak
St
Arbu
tus
StW
Bou
leva
rd
W 49th Ave
Blen
heim
St
Dunb
ar S
t
Crow
n St
W 10th Ave
Wesbrook Mall
W 4th Ave
NW Marine Dr
Cornwall StPoint Grey Rd
Mac
dona
ld S
t
Marine Dr15th St
21st
St
Inglewood Ave
11th
St
15th
St
Stev
ens D
r
Queens AveSouth
boro
ugh
Dr
Capi
lan
o Rd
Edgemont Blvd
Welch St
Larso
n Rd
Delb
rook
E 29th St
E Gr
and
Blvd
Broo
ksba
nkAv
e
Mountain H
wyE Esplanade Main St W
Riverside Dr
E Ri
versi
de D
r
W Esplanade
Lons
dale
Ave
Ches
ter�
eld
Ave
St G
eorg
es A
ve
W 13th St
Braemar Rd
Mou
ntai
n H
wy
Lynn V
alley R
d
Lillo
oet R
d
W 3rd StE 3rd St
Hyannis Dr
72nd
St
Huston Rd
76th
St
Kent Ave S
Grandview Hwy
Blundell Rd
Harbourside DrHarbourside Pl
Fulton Ave
Mathers Ave
64th Ave
Rd
Ferguson Wy
Ladner Trunk Road
Blue
Mou
ntai
n St
Stav
e La
ke St
Bedw
ell Bay Rd
F
ell
Ave
E Keith Rd
Trans Canada Highway
Lougheed Highway
Simon FraserUniversity
Dollarton HwyOld
Dollarton Rd
Vulcan Wy
Port Mann Bridge
Patullo BridgeAlex Fraser Bridge
Oak St Bridge
Lion
s Gat
e Br
idge
Queensborough Bridge
Cliveden
Ave
Industrial Wy
W Yale Rd
Lick
man
Rd
Sum
as P
rairi
e Rd
Boun
dary
Rd
Inte
rpro
vinc
ial H
wy
Cole
Rd
McD
erm
ott R
d
Mar
ion
Rd
Dixo
n Rd
Pow
erho
use
Rd
Chad
sey
Rd
Sinclair Rd
Hop
edal
e Rd
S Sumas Rd
Luckakuck Wy
Keith Wilson Rd
Peters Rd
W Yale Rd
Vedder Rd
Prairie Central Rd
Bailey Rd
Watson Rd Promontory Rd
Chilliwack Central Rd
1st Ave
Castleman Rd
Anni
s Rd
Chap
man
Rd
McG
rath
Rd
Ford
Rd
Gibs
on R
d
Pres
t Rd
Youn
g Rd
Banf
ord
Rd
Campbell R
iver Rd
Chi l l iw ackRiver Rd
Gilla
nder
s Rd
Vedder Mountain Rd
Yarrow Central Rd
No. 3 Rd
No. 4 RdFireclay Rd
No. 5 RdAtkinson Rd
Campbell Rd
Wells Line Rd
Dewdney Trunk Rd
Stav
e La
ke R
d
Sylve
ster
Rd
Hawkins Pickle Rd
New
ton
Rd
Eagl
e Rd
R iver Rd South
Nicomen Island Trunk Rd
Nicomen Island Trunk Rd
John
son
Rd
Athe
y RdNo 1 Rd
Chilliwack Mtn Rd
Wellington Ave
Wolfe Rd
Hope River Rd
Chilliwack Lake Rd
Lower S
umas
Mtn
Rd
Sumas Mtn Rd
Upper Sumas Mountai n Rd
Limbert Rd
McCallum Rd
Cam
eron
Rd
Brid
ge R
d
Arthur L
aing
Brid
ge
RdStraiton
Iron Workers M
emo rial Bridge
Stewardson Wy
Colu
mbi
a St
Brunette Ave
Newton Rd
192n
d St
Dawson Rd
Ave
Shau
ghne
ssy S
t
St
Fraser
Wy
North
Com
mer
cial
Dr
Earle
s St
110th Ave
112th Ave
Kingsway
E Hastings Street
E Broadway
Kingsway
Gran
ville
Str
eet
W Broadway
King
Geo
rge
Hig
hway
Fraser Highway
United Blvd
Barnet Highway
Upper
Highway
Levels
Tayl
or W
y
Haney Bypass
Fraser Highway
Trans Canada Highway
56th Ave
176t
h St
Paci
�c H
ighw
ay
Lougheed Highway
South Fraser Way
Mission-abbotsford H
ighway
264t
h St
Alde
rgro
ve -
Bel
lingh
am H
ighw
ay
Trans C
anada Hwy
North P
arallel
South
Parallel
Sumas Way
Trans Canada Hwy
Har
rison
Hot
Spr
ings
Rd
Lougheed Hwy
E Yale Rd
Lougheed Highway
St. Johns St
Westminster Hwy
Fras
er -
Del
ta T
hruw
ay
Richmond Annacis Highway
Cambie Rd
Alderbridge Wy
Will
ingd
on A
ve
King Edward Ave
W 41st Ave
W 12th Ave
SW Marine Dr
W 16th Ave
No. 5
Rd
Steveston Hwy
No. 3
Rd
Canada Wy
Gilm
ore
Ave
WESTHAM ISLAND
TILBURY ISLAND
ANNACISISLAND
MITCHELLISLAND
DOUGLASISLAND
BARNSTON ISLAND
MCMILLAN ISLAND
CRESCENT ISLAND
MATSQUI ISLAND
HOGISLAND
FAIRFIELDISLAND
WINDERMERE ISLAND
SEAISLAND
Tri-CitiesThe Port Moody industrial market continues to have no vacant space and no new construction underway. However, in Coquitlam, Beedie Development Group has a new project in planning called Fraser Mills, offering space for lease with units ranging from 10,470 SF to 14,380 SF. Port Coquitlam also has more strata warehouse space under construction by Conwest in the Dominion Triangle with pricing in the range of $235 to $245 PSF.
Trends > This quarter saw the trend of further lowering vacancy and rising rental rates due to the lack of available existing options and strong demand; this trend will continue with the dwindling supply of developable industrial land.
> The new supply of construction will be much welcomed to help alleviate the pressure of demand for new space, if only for the short term.
1
Notable Lease TransactionsTENANT NAME - ADDRESS TYPE APPROXIMATE
SIZE (SF)
1. Weatherhaven Global Resources Ltd. -2120 Hartley Avenue, Coquitlam Direct 32,845
Summary Statistics Q2 2015 Q2 2016 Trend
Vacancy Rate 2.9% 0.5%
YTD Net Absorption (SF) 214,579 62,675
YTD New Supply (SF) 85,896 0
Under Construction (SF) 0 169,247
Weighted Average Asking Net Rent ($/SF) $7.66 $8.49
Historical Performance and Forecast Notable Sale TransactionsPURCHASER - ADDRESS PRICE APPROXIMATE
SIZE (SF)
2. Undisclosed - 41 Fawcett Road, Coquitlam $4,900,000 17,475
3. Undisclosed - 32 Fawcett Road, Coquitlam $5,100,000 14,500
2
Upcoming New SupplyADDRESS NAME DEVELOPMENT CLASSIFICATION SIZE (SF) DEVELOPER EXPECTED
COMPLETION
A. 570 Sherling Place, Port Coquitlam River’s Edge Business Park - Building C Speculative - Strata 34,392 Conwest Group of Companies Q4 2016/Q1 2017
B. 570 Sherling Place, Port Coquitlam River’s Edge Business Park - Building D Speculative - Strata 16,606 Conwest Group of Companies Q4 2016/Q1 2017
C. Fraser Mills, Coquitlam Fraser Mills - Building 1 and 2 Speculative - Lease 117,966 Beedie Group Q1-Q2 2017
A,B
C3
Notable Lease Notable Sale New Supply
6Research & Forecast Report | Second Quarter 2016 | Metro Vancouver / Industrial | Colliers International
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allu
m R
d
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donv
ille R
d
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h St
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h St
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h St
Mt.
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an R
d Clea
rbro
ok R
d
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illan
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Old
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Clayburn Rd
Rive
rsid
e Rd
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20th Ave
Page Rd
Glad
win
Rd
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40th Ave
Ferndale Ave
Richards Ave
Dale Rd
Farms Rd
Hartley Rd
Dewdney Trunk Rd
1st Ave
7th Ave
14th Ave
22nd Ave
Ceda
r St
Farm
s Rd
Spra
tt Rd
Stav
e La
ke R
d
Hur
d St
Wre
n St
Clay
St
Dewdney Trunk Rd
Keystone Ave
Tyler
Wils
on S
t
Hay
war
d St
Duke R
d
280t
h St
80th Ave
McTavish Rd
Satc
hell
St
Harris Rd
Townshipline Rd
Downes Rd
Brad
ner
Rd28
8th
St
Lefe
uvre
Rd
8th Ave
0 Ave Boundary Rd
272n
d St
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256t
h St
248t
h St
272n
d St
56th Ave
272n
d St
280t
h St
112th Ave
100th Ave
112th Ave
256t
h St
256t
h St
264t
h St
248t
h St
112th Ave
124th Ave
Dewdney Trunk Rd
102nd Ave
240t
h St
128th Ave128th Ave
232n
d St
227t
h St
224t
h St
Glov
er R
d
Wilson Cr
80th Ave
240t
h St
Brow
n Rd
72nd Ave
Telegraph Tr
Fern
Cr
132nd Ave
144 th St
Neav
es R
d
Laity
St
216t
h St
River Rd
203r
d St
207t
h St
Gold
en E
ars
Brid
ge
208t
h St
100th Ave
96th Ave
88th Ave
Telegraph Tr
216t
h St
To
pham
Rd
200t
h St
72nd Ave 72nd Ave
208t
h St
216t
h St
Glover
Rd
Logan Ave
HWY 10BYPASS
48th Ave
Old Yale Rd
40th Ave
Douglas Cr
208t
h St
53rd Ave
203r
d St
Grade Cr
200t
h St
208t
h St
216t
h St
32nd Ave
240t
h St
24th Ave 24th Ave
224t
h St
232n
d St
16th Ave
176t
h St
0 Ave Boundary Rd
176t
h St
172n
d St
Campbell River Rd
16th Ave
168t
h St
8th Ave
Buena Vista Ave
152n
d St 24th Ave
20th Ave
28th Ave
32nd Ave
184t
h St
188t
h St
192n
d St
20th Ave
Colebrook Rd
Paci
�c H
ighw
ay
40th Ave 40th Ave
160t
h St
160t
h St
60th Ave
64th Ave
168t
h St
184t
h St
192n
d St
80th Ave
88th Ave
Harvie
Rd
160t
h St
92nd Ave
96th Ave
104th Ave
156t
h St
108th Ave
S Fraser Perimeter Rd
Woo
lridg
e Rd
Victoria Dr
Burn
s Rd
Prairie Ave
Ceda
r DrCo
ast M
erid
ian
Rd
Kingsway Ave
Broa
dway
St
Shau
ghne
ssy S
tWoo
dlan
d Pi
pelin
e Rd
Panorama Dr
John
son
St
Landsdowne Dr
Pine
tree
Wy
Mary Hill Bypass
Pitt
Rive
r Rd
Dewdney Trunk Rd
Har
ris R
d
Richardson Rd
McNeil Rd
East Rd
Sunn
ysid
e Rd
Ioco Rd
April
Rd
Heritage Mountain Blvd
Clarke
Rd
Como Lake Ave
Mar
iner
Wy
Lint
on S
t
Gate
nsbu
ry R
d
Austin Ave
Marine DrNorth Blu� Rd
128t
h St
20th Ave124t
h St
Bayv
iew
St
24th Ave
28th Ave
140t
h St
Cres cent
R
d 32nd Ave
40th Ave
Colebrook Rd
56th Ave
Stat
ion
Rd
58th Ave 148t
h St
148t
h St
64th Ave 68th Ave
72nd Ave
76th Ave76th Ave
Scot
t Rd
120t
h St
80th Ave
Kitson Pkwy
72nd Ave 140t
h St
144t
h St
152n
d St
84th Ave
128t
h St
112t
h St
84th Ave
Norde
l Wy
140t
h St
AnnacisHighway
88th Ave
92nd Ave
96th Ave
132n
d St
100th Ave
Scott
Rd
100th Ave
104th Ave
108th AveGros
venor
Rd
116th Ave
Hartley Ave
Mt S
eym
our R
d
Deep
Cov
e Rd
Mt Seymour Pkwy
Eton St
Parker St Curtis St
Gaglardi Wy
Gera
ld A
ve
Sper
ling
St
Nort
h Rd
Canada Wy6th St
10th Ave
8th Ave
6th Ave
Queens
Ave
Deer Lake Pkwy
Gille
y Av
e
Roya
l Oak
Ave
Imperial St
Rumble St
Nels
on A
ve
Marine Dr
Marine Wy
Byrne R
d
Tyne
St
Boun
dary
Rd
Grange St
RdRiver
Derwent Wy
River Rd VantageWy
Progress Wy 80th
St
Hopcott Rd
72nd
St
60th Ave
36th Ave
64th
St
16th Ave
Boundary Bay R
dPoin
t Rob
erts
Rd
1st Ave
6th Ave
12th Ave52
nd S
t
56th
St
28th Ave27B Ave
Deltaport Wy
53rd
St
Arth
ur D
r
34B Ave
Caus
eway
Rive
r Rd W
62B
St
No. 6
Rd
No. 7
Rd
No. 8
Rd
Nels
on R
d
No. 9
Rd
Vulc
an W
y
Bridgeport Rd
Knight St Bridge
Granville Ave
River Rd
Blundell Rd
Francis Rd
Williams Rd
Gard
en C
ity R
d
No. 4
Rd
Shel
l Rd
Railw
ay A
ve
Westham Island Rd
Robe
rtso
n Rd
Dyke Rd
Gilb
ert R
d
No. 2
Rd
No. 1
Rd
Moncton St
Russ Baker W
y
Grant McConachie Wy
W 70th Ave N Kent AveSE Marine Dr
Twigg Pl
Sprott StWinston StRu
pert
St
Hol
dom
St
Berk
ley
Rd
McGill St
Dundas St
Renf
rew
St
1st Ave
Venables St
Nana
imo
St
E 41st Ave
W 57th Ave W 57th Ave
49th Ave E
Kerr
St
Ellio
t S
t
Vict
oria
Dr
Clar
k Dr
Knig
ht S
t
Fras
er S
t
Mai
n St
E 33rd Ave
E 12th Ave
Gre at Northern Wy
Denman
St
Davie St
Paci�c St
W 33rd Ave
Cam
bie
St
Oak
St
Arbu
tus
StW
Bou
leva
rd
W 49th Ave
Blen
heim
St
Dunb
ar S
t
Crow
n St
W 10th Ave
Wesbrook Mall
W 4th Ave
NW Marine Dr
Cornwall StPoint Grey Rd
Mac
dona
ld S
t
Marine Dr15th St
21st
St
Inglewood Ave
11th
St
15th
St
Stev
ens D
r
Queens AveSouth
boro
ugh
Dr
Capi
lan
o Rd
Edgemont Blvd
Welch St
Larso
n Rd
Delb
rook
E 29th St
E Gr
and
Blvd
Broo
ksba
nkAv
e
Mountain H
wyE Esplanade Main St W
Riverside Dr
E Ri
versi
de D
r
W Esplanade
Lons
dale
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Braemar Rd
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ntai
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wy
Lynn V
alley R
d
Lillo
oet R
d
W 3rd StE 3rd St
Hyannis Dr
72nd
St
Huston Rd
76th
St
Kent Ave S
Grandview Hwy
Blundell Rd
Harbourside DrHarbourside Pl
Fulton Ave
Mathers Ave
64th Ave
Rd
Ferguson Wy
Ladner Trunk Road
Blue
Mou
ntai
n St
Stav
e La
ke St
Bedw
ell Bay Rd
F
ell
Ave
E Keith Rd
Trans Canada Highway
Lougheed Highway
Simon FraserUniversity
Dollarton HwyOld
Dollarton Rd
Vulcan Wy
Port Mann Bridge
Patullo Bridge
Alex Fraser Bridge
Oak St Bridge
Lion
s Gat
e Br
idge
Queensborough Bridge
Cliveden
Ave
Industrial Wy
W Yale Rd
Lick
man
Rd
Sum
as P
rairi
e Rd
Boun
dary
Rd
Inte
rpro
vinc
ial H
wy
Cole
Rd
McD
erm
ott R
d
Mar
ion
Rd
Dixo
n Rd
Pow
erho
use
Rd
Chad
sey
Rd
Sinclair Rd
Hop
edal
e Rd
S Sumas Rd
Luckakuck Wy
Keith Wilson Rd
Peters Rd
W Yale Rd
Vedder Rd
Prairie Central Rd
Bailey Rd
Watson Rd Promontory Rd
Chilliwack Central Rd
1st Ave
Castleman Rd
Anni
s Rd
Chap
man
Rd
McG
rath
Rd
Ford
Rd
Gibs
on R
d
Pres
t Rd
Youn
g Rd
Banf
ord
Rd
Campbell R
iver Rd
Chi l l iw ackRiver Rd
Gilla
nder
s Rd
Vedder Mountain Rd
Yarrow Central Rd
No. 3 Rd
No. 4 RdFireclay Rd
No. 5 RdAtkinson Rd
Campbell Rd
Wells Line Rd
Dewdney Trunk Rd
Stav
e La
ke R
d
Sylve
ster
Rd
Hawkins Pickle Rd
New
ton
Rd
Eagl
e Rd
R iver Rd South
Nicomen Island Trunk Rd
Nicomen Island Trunk Rd
John
son
Rd
Athe
y RdNo 1 Rd
Chilliwack Mtn Rd
Wellington Ave
Wolfe Rd
Hope River Rd
Chilliwack Lake Rd
Lower S
umas
Mtn
Rd
Sumas Mtn Rd
Upper Sumas Mountai n Rd
Limbert Rd
McCallum Rd
Cam
eron
Rd
Brid
ge R
d
Arthur L
aing
Brid
ge
RdStraiton
Iron Workers M
emo rial Bridge
Stewardson Wy
Colu
mbi
a St
Brunette Ave
Newton Rd
192n
d St
Dawson Rd
Ave
Shau
ghne
ssy S
t
St
Fraser
Wy
North
Com
mer
cial
Dr
Earle
s St
110th Ave
112th Ave
Kingsway
E Hastings Street
E Broadway
Kingsway
Gran
ville
Str
eet
W Broadway
King
Geo
rge
Hig
hway
Fraser Highway
United Blvd
Barnet Highway
Upper
Highway
Levels
Tayl
or W
y
Haney Bypass
Fraser Highway
Trans Canada Highway
56th Ave
176t
h St
Paci
�c H
ighw
ay
Lougheed Highway
South Fraser Way
Mission-abbotsford H
ighway
264t
h St
Alde
rgro
ve -
Bel
lingh
am H
ighw
ay
Trans C
anada Hwy
North P
arallel
South
Parallel
Sumas Way
Trans Canada Hwy
Har
rison
Hot
Spr
ings
Rd
Lougheed Hwy
E Yale Rd
Lougheed Highway
St. Johns St
Westminster Hwy
Fras
er -
Del
ta T
hruw
ay
Richmond Annacis Highway
Cambie Rd
Alderbridge Wy
Will
ingd
on A
ve
King Edward Ave
W 41st Ave
W 12th Ave
SW Marine Dr
W 16th Ave
No. 5
Rd
Steveston Hwy
No. 3
Rd
Canada Wy
Gilm
ore
Ave
WESTHAM ISLAND
TILBURY ISLAND
ANNACISISLAND
MITCHELLISLAND
DOUGLASISLAND
BARNSTON ISLAND
MCMILLAN ISLAND
CRESCENT ISLAND
MATSQUI ISLAND
HOGISLAND
FAIRFIELDISLAND
WINDERMERE ISLAND
SEAISLAND
RichmondRichmond’s vacancy rate continues to compress due to persistent strong demand in combination with a lack of supply of available buildings to purchase or lease; the shortage of supply also extends to developable land. Subsequently, there is upward pressure on sale prices and lease rates.
Trends > Building B of Sun Life Financial’s Gateway Pacific Business Centre at 13268 Worster Court is currently ready for tenant fixturing and slated for occupancy in July 2016. The multi-tenant facility, totaling 79,116 SF, is the final of three buildings comprising the 15-acre park managed by Bentall Kennedy.
> On the leasing front there is exceptionally strong demand for small to mid-bay product and flex industrial/office space in the 3,000 SF to 5,000 SF range with little to no available supply.
> 3331 Jacombs Road. a 16,856 SF fully leased retail-oriented industrial building, sold this quarter for $100,000 above asking price at $361 per square foot; this sale is indicative of the overall trend of escalating prices in the face of limited options for owner-users or investors.
Notable Lease TransactionsTENANT NAME - ADDRESS TYPE APPROXIMATE
SIZE (SF)
1. Fairway Recycle Group Inc. - 11120 Twigg Place (LAND) Direct 4.0 (Ac)
2. Conglom Inc. - 13180 Mitchell Road Renewal 35,174
3. Lesley Stowe Fine Foods -13971 Bridgeport Road Renewal 27,344
Summary Statistics Q2 2015 Q2 2016 Trend
Vacancy Rate 3.5% 1.1%
YTD Net Absorption (SF) 57,609 268,779
YTD New Supply (SF) 0 0
Under Construction (SF) 84,300 442,956
Weighted Average Asking Net Rent ($/SF) $8.37 $8.62
4
Notable Lease Notable Sale New Supply
Historical Performance and Forecast
2
B
1
3
Upcoming New SupplyADDRESS NAME DEVELOPMENT CLASSIFICATION SIZE (SF) DEVELOPER/APPLICANT EXPECTED COMPLETION
A. 13268 Worster Court Gateway Pacific Business Centre - Building B Speculative 79,116 Sun Life Financial Q3 2016
B. 16111 Blundell Road Hopewell Distribution Centre Phase IV Speculative 330,540 Hopewell Development Corp. Q1 2017
Notable Sale TransactionsPURCHASER - ADDRESS PRICE APPROXIMATE
SIZE (SF)
4. Concord International Lands Ltd. - 3331 Jacombs Road $6,080,000 16,856
5. River Road Investments - 11191 Twigg Place (LAND) $6,000,000 2.768 (Ac)
6. Ken Hanna Holdings Ltd. - 18380 McCartney Way $13,650,000 63,575-300,000
-200,000
-100,000
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
2014
Q1*
2014
Q2
2014
Q3
2014
Q4
2015
Q1
2015
Q2
2015
Q3
2015
Q4
2016
Q1
2016
Q2
2016
Q3F
2016
Q4F
2017
Q1F
2017
Q2F
New Supply (SF) Net Absorption (SF) Current Qtr Vacancy Rate
5
6
A
7 Research & Forecast Report | Second Quarter 2016 | Metro Vancouver / Industrial | Colliers International
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Neav
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216t
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203r
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ars
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pham
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iew
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ve
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d
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d
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t
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t
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bie
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and
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versi
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Mou
ntai
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wy
Lynn V
alley R
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d
W 3rd StE 3rd St
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St
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76th
St
Kent Ave S
Grandview Hwy
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Rd
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ntai
n St
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e La
ke St
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ell Bay Rd
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ell
Ave
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s Gat
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idge
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Ave
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man
Rd
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rairi
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Boun
dary
Rd
Inte
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vinc
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wy
Cole
Rd
McD
erm
ott R
d
Mar
ion
Rd
Dixo
n Rd
Pow
erho
use
Rd
Chad
sey
Rd
Sinclair Rd
Hop
edal
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S Sumas Rd
Luckakuck Wy
Keith Wilson Rd
Peters Rd
W Yale Rd
Vedder Rd
Prairie Central Rd
Bailey Rd
Watson Rd Promontory Rd
Chilliwack Central Rd
1st Ave
Castleman Rd
Anni
s Rd
Chap
man
Rd
McG
rath
Rd
Ford
Rd
Gibs
on R
d
Pres
t Rd
Youn
g Rd
Banf
ord
Rd
Campbell R
iver Rd
Chi l l iw ackRiver Rd
Gilla
nder
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Vedder Mountain Rd
Yarrow Central Rd
No. 3 Rd
No. 4 RdFireclay Rd
No. 5 RdAtkinson Rd
Campbell Rd
Wells Line Rd
Dewdney Trunk Rd
Stav
e La
ke R
d
Sylve
ster
Rd
Hawkins Pickle Rd
New
ton
Rd
Eagl
e Rd
R iver Rd South
Nicomen Island Trunk Rd
Nicomen Island Trunk Rd
John
son
Rd
Athe
y RdNo 1 Rd
Chilliwack Mtn Rd
Wellington Ave
Wolfe Rd
Hope River Rd
Chilliwack Lake Rd
Lower S
umas
Mtn
Rd
Sumas Mtn Rd
Upper Sumas Mountai n Rd
Limbert Rd
McCallum Rd
Cam
eron
Rd
Brid
ge R
d
Arthur L
aing
Brid
ge
RdStraiton
Iron Workers M
emo rial Bridge
Stewardson Wy
Colu
mbi
a St
Brunette Ave
Newton Rd
192n
d St
Dawson Rd
Ave
Shau
ghne
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t
St
Fraser
Wy
North
Com
mer
cial
Dr
Earle
s St
110th Ave
112th Ave
Kingsway
E Hastings Street
E Broadway
Kingsway
Gran
ville
Str
eet
W Broadway
King
Geo
rge
Hig
hway
Fraser Highway
United Blvd
Barnet Highway
Upper
Highway
Levels
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Haney Bypass
Fraser Highway
Trans Canada Highway
56th Ave
176t
h St
Paci
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ighw
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Lougheed Highway
South Fraser Way
Mission-abbotsford H
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264t
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Alde
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Trans C
anada Hwy
North P
arallel
South
Parallel
Sumas Way
Trans Canada Hwy
Har
rison
Hot
Spr
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Rd
Lougheed Hwy
E Yale Rd
Lougheed Highway
St. Johns St
Westminster Hwy
Fras
er -
Del
ta T
hruw
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Richmond Annacis Highway
Cambie Rd
Alderbridge Wy
Will
ingd
on A
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King Edward Ave
W 41st Ave
W 12th Ave
SW Marine Dr
W 16th Ave
No. 5
Rd
Steveston Hwy
No. 3
Rd
Canada Wy
Gilm
ore
Ave
WESTHAM ISLAND
TILBURY ISLAND
ANNACISISLAND
MITCHELLISLAND
DOUGLASISLAND
BARNSTON ISLAND
MCMILLAN ISLAND
CRESCENT ISLAND
MATSQUI ISLAND
HOGISLAND
FAIRFIELDISLAND
WINDERMERE ISLAND
SEAISLANDDelta
Vacancy is extremely low with no speculative development projects on the horizon in the short term. However, a major opportunity currently available is the Delta Logistics Centre, which offers 200 acres (Phase 2) of serviced development land. Deltaport Logistics Centre is located directly adjacent to Port of Vancouver’s Deltaport Terminal, and immediately south of Delta iPort (3000 41B Street) with unparalleled access to Roberts Bank Terminal.
Trends > Delta iPort, comprised of 57 acres, is set to break ground on construction in July 2016 with Phase I providing 453,000 SF of tier-1 distribution centre space slated for completion in Q4 2017.
> Given the lack of available inventory, at least in the short-run, there is upward pressure placed on rental rates resulting from strong demand for space in the market.
> The Crossing Studio Ltd. leased space at 1420-1440 Derwent Way for additional studio space - historically it has been uncommon to see film companies in the Delta/Annacis area.
Notable Lease TransactionsTENANT NAME - ADDRESS TYPE APPROXIMATE
SIZE (SF)
1. Kintetsu World Express - 598 Ebury Place Direct 104,193
2. Leon’s Furniture Limited - 7979 Vantage Way Direct 79,174
3. The Crossing Studios Ltd. - 1420 - 1440 Derwent Way Direct 55,300
Summary Statistics Q2 2015 Q2 2016 Trend
Vacancy Rate 5.2% 1.6%
YTD Net Absorption (SF) 408,511 460,080
YTD New Supply (SF) 295,425 49,765
Under Construction (SF) 767,600 585,081
Weighted Average Asking Net Rent ($/SF) $7.46 $7.58
1,3
5A
Notable Lease Notable Sale New Supply
Historical Performance and Forecast
Notable Sale TransactionsPURCHASER - ADDRESS PRICE APPROXIMATE
SIZE (SF)
4. Bella Bella Investment Group Ltd. - 563 Ebury Place $5,190,000 34,893
5. Nordel 3 Holdings Inc. - 10238 Nordel Court $5,083,750 24,029
2
B
Upcoming New SupplyADDRESS NAME DEVELOPMENT CLASSIFICATION SIZE (SF) DEVELOPER/APPLICANT EXPECTED COMPLETION
A. 9450 River Road Tilbury Distribution Centre Speculative 289,000 Great-West Life Assurance Company Q1 2017
B. 8140 92 Street TAS Refrigerated Distribution Centre Built-to-Suit 65,000 Prism Construction Ltd. Q2 2017
4
-600,000
-400,000
-200,000
0
200,000
400,000
600,000
800,000
1,000,000
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
2014
Q1*
2014
Q2
2014
Q3
2014
Q4
2015
Q1
2015
Q2
2015
Q3
2015
Q4
2016
Q1
2016
Q2
2016
Q3F
2016
Q4F
2017
Q1F
Series2 Series3 Series1
8Research & Forecast Report | Second Quarter 2016 | Metro Vancouver / Industrial | Colliers International
CapilanoLake
India
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BuntzenLake
Pitt Lake
Hatzic Lake
Stave Lake
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Mud Bay
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Harrison Lake
Harrison Bay
Fraser
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Fraser River
C.P.
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C.N.R.
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CANADAU.S.A.
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University of British Columbia
1
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VANCOUVERINTERNATIONAL
AIRPORT
BC FERRIESTERMINAL
TSAWWASSEN
BOUNDARY BAYAIRPORT
LANGLEYAIRPORT
PITT MEADOWSAIRPORT
ABBOTSFORD INTERNATIONAL
AIRPORT
Albion Ferry
Burquitlam
Port Moody Centre
Lincoln
Coquitlam CentralInlet Centre
LougheedTown Centre
Burquitlam
Port Moody Centre Inlet CentreCoquitlam Central
Lafarge Lake - Douglas
Lincoln
LougheedTown Centre
Port Moody Centre
PittMeadows
MapleMeadows
PortHaney
MissionCity
CoquitlamCentral
PortCoquitlam
Port Moody Centre
PittMeadows
MapleMeadows
PortHaney
MissionCity
CoquitlamCentral
PortCoquitlam
KingEdward
Broadway/City Hall
Olympic Village
Yaletown/Roundhouse
Oakridge/41st Ave
Langara/49th Ave
Marine Dr
Bridgeport
Aberdeen
Lansdowne
Brighouse
TempletonSea Island
CentreYVR
Airport
VancouverCity Centre
KingEdward
Broadway/City Hall
Olympic Village
Yaletown/Roundhouse
Oakridge/41st Ave
Langara/49th Ave
Marine Dr
Bridgeport
Aberdeen
Lansdowne
Brighouse
TempletonSea Island
CentreYVR
Airport
VancouverCity Centre
Commercial
RupertRenfrew
Gilmore BrentwoodTown Centre
Holdom
Sperling/Burnaby Lake
Lake City WayProduction Way/University
Braid
Sapperton
LougheedTown Centre
VCC/Clark
Commercial
RupertRenfrew
Gilmore BrentwoodTown Centre
Holdom
Sperling/Burnaby Lake
Lake City WayProduction Way/University
Braid
Sapperton
LougheedTown Centre
VCC/Clark
Burrard
Stadium/Chinatown
Main St
Broadway
Nanaimo
29th Ave
Joyce
Patterson
Metrotown
RoyalOak
Edmonds
22nd StNewWestminster
ColumbiaScott Rd
Gateway
SurreyCentral
King George
Granville
WaterfrontBurrard
Stadium/Chinatown
Main St
Broadway
Nanaimo
29th Ave
Joyce
Patterson
Metrotown
RoyalOak
Edmonds
22nd StNewWestminster
ColumbiaScott Rd
Gateway
SurreyCentral
King George
Granville
Waterfront
Lonsdale QuayLonsdale Quay
Delta
Surrey
Port Moody
Burnaby
WestVancouver
NorthVancouver
Richmond
CHILLIWACK
AGASSIZNEWWESTMINSTER
Vancouver
LangleyLangley
Port Coquitlam
Coquitlam
PittMeadows
MapleRidge
Mission
Abbotsford
White Rock
George Massey Tunnel
Hammond Rd
Fraser Wy
Boundary Rd
Vye Rd
Wha
tcom
Rd
McC
allu
m R
d
Marshall Rd
Huntington Rd
Pear
donv
ille R
d
King Rd
Ross
Rd
296t
h St
328t
h St
320t
h St
304t
h St
Mt.
Lehm
an R
d Clea
rbro
ok R
d
McM
illan
RdOld Yale
Clayburn Rd
Old
Bell
Rd
56th Ave
Clayburn Rd
Rive
rsid
e Rd
Fore Rd 60th Ave
44 Ave
16th Ave
8th Ave
20th Ave
Page Rd
Glad
win
Rd
48th Ave48th Ave
40th Ave
Ferndale Ave
Richards Ave
Dale Rd
Farms Rd
Hartley Rd
Dewdney Trunk Rd
1st Ave
7th Ave
14th Ave
22nd Ave
Ceda
r St
Farm
s Rd
Spra
tt Rd
Stav
e La
ke R
d
Hur
d St
Wre
n St
Clay
St
Dewdney Trunk Rd
Keystone Ave
Tyler
Wils
on S
t
Hay
war
d St
Duke R
d
280t
h St
80th Ave
McTavish Rd
Satc
hell
St
Harris Rd
Townshipline Rd
Downes Rd
Brad
ner
Rd28
8th
St
Lefe
uvre
Rd
8th Ave
0 Ave Boundary Rd
272n
d St
8th Ave
256t
h St
248t
h St
272n
d St
56th Ave
272n
d St
280t
h St
112th Ave
100th Ave
112th Ave
256t
h St
256t
h St
264t
h St
248t
h St
112th Ave
124th Ave
Dewdney Trunk Rd
102nd Ave
240t
h St
128th Ave128th Ave
232n
d St
227t
h St
224t
h St
Glov
er R
d
Wilson Cr
80th Ave
240t
h St
Brow
n Rd
72nd Ave
Telegraph Tr
Fern
Cr
132nd Ave
144 th St
Neav
es R
d
Laity
St
216t
h St
River Rd
203r
d St
207t
h St
Gold
en E
ars
Brid
ge
208t
h St
100th Ave
96th Ave
88th Ave
Telegraph Tr
216t
h St
To
pham
Rd
200t
h St
72nd Ave 72nd Ave
208t
h St
216t
h St
Glover
Rd
Logan Ave
HWY 10BYPASS
48th Ave
Old Yale Rd
40th Ave
Douglas Cr
208t
h St
53rd Ave
203r
d St
Grade Cr
200t
h St
208t
h St
216t
h St
32nd Ave
240t
h St
24th Ave 24th Ave
224t
h St
232n
d St
16th Ave
176t
h St
0 Ave Boundary Rd
176t
h St
172n
d St
Campbell River Rd
16th Ave
168t
h St
8th Ave
Buena Vista Ave
152n
d St 24th Ave
20th Ave
28th Ave
32nd Ave
184t
h St
188t
h St
192n
d St
20th Ave
Colebrook Rd
Paci
�c H
ighw
ay
40th Ave 40th Ave
160t
h St
160t
h St
60th Ave
64th Ave
168t
h St
184t
h St
192n
d St
80th Ave
88th Ave
Harvie
Rd
160t
h St
92nd Ave
96th Ave
104th Ave
156t
h St
108th Ave
S Fraser Perimeter Rd
Woo
lridg
e Rd
Victoria Dr
Burn
s Rd
Prairie Ave
Ceda
r DrCo
ast M
erid
ian
Rd
Kingsway Ave
Broa
dway
St
Shau
ghne
ssy S
tWoo
dlan
d Pi
pelin
e Rd
Panorama Dr
John
son
St
Landsdowne Dr
Pine
tree
Wy
Mary Hill Bypass
Pitt
Rive
r Rd
Dewdney Trunk Rd
Har
ris R
d
Richardson Rd
McNeil Rd
East Rd
Sunn
ysid
e Rd
Ioco Rd
April
Rd
Heritage Mountain Blvd
Clarke
Rd
Como Lake Ave
Mar
iner
Wy
Lint
on S
t
Gate
nsbu
ry R
d
Austin Ave
Marine DrNorth Blu� Rd
128t
h St
20th Ave124t
h St
Bayv
iew
St
24th Ave
28th Ave
140t
h St
Cres cent
R
d 32nd Ave
40th Ave
Colebrook Rd
56th Ave
Stat
ion
Rd
58th Ave 148t
h St
148t
h St
64th Ave 68th Ave
72nd Ave
76th Ave76th Ave
Scot
t Rd
120t
h St
80th Ave
Kitson Pkwy
72nd Ave 140t
h St
144t
h St
152n
d St
84th Ave
128t
h St
112t
h St
84th Ave
Norde
l Wy
140t
h St
AnnacisHighway
88th Ave
92nd Ave
96th Ave
132n
d St
100th Ave
Scott
Rd
100th Ave
104th Ave
108th AveGros
venor
Rd
116th Ave
Hartley Ave
Mt S
eym
our R
d
Deep
Cov
e Rd
Mt Seymour Pkwy
Eton St
Parker St Curtis St
Gaglardi Wy
Gera
ld A
ve
Sper
ling
St
Nort
h Rd
Canada Wy6th St
10th Ave
8th Ave
6th Ave
Queens
Ave
Deer Lake Pkwy
Gille
y Av
e
Roya
l Oak
Ave
Imperial St
Rumble St
Nels
on A
ve
Marine Dr
Marine Wy
Byrne R
d
Tyne
St
Boun
dary
Rd
Grange St
RdRiver
Derwent Wy
River Rd VantageWy
Progress Wy 80th
St
Hopcott Rd
72nd
St
60th Ave
36th Ave
64th
St
16th Ave
Boundary Bay R
dPoin
t Rob
erts
Rd
1st Ave
6th Ave
12th Ave
52nd
St
56th
St
28th Ave27B Ave
Deltaport Wy
53rd
St
Arth
ur D
r
34B Ave
Caus
eway
Rive
r Rd W
62B
St
No. 6
Rd
No. 7
Rd
No. 8
Rd
Nels
on R
d
No. 9
Rd
Vulc
an W
y
Bridgeport Rd
Knight St Bridge
Granville Ave
River Rd
Blundell Rd
Francis Rd
Williams Rd
Gard
en C
ity R
d
No. 4
Rd
Shel
l Rd
Railw
ay A
ve
Westham Island Rd
Robe
rtso
n Rd
Dyke Rd
Gilb
ert R
d
No. 2
Rd
No. 1
Rd
Moncton St
Russ Baker W
y
Grant McConachie Wy
W 70th Ave N Kent AveSE Marine Dr
Twigg Pl
Sprott StWinston StRu
pert
St
Hol
dom
St
Berk
ley
Rd
McGill St
Dundas St
Renf
rew
St
1st Ave
Venables St
Nana
imo
St
E 41st Ave
W 57th Ave W 57th Ave
49th Ave E
Kerr
St
Ellio
t S
t
Vict
oria
Dr
Clar
k Dr
Knig
ht S
t
Fras
er S
t
Mai
n St
E 33rd Ave
E 12th Ave
Gre at Northern Wy
Denman
St
Davie St
Paci�c St
W 33rd Ave
Cam
bie
St
Oak
St
Arbu
tus
StW
Bou
leva
rd
W 49th Ave
Blen
heim
St
Dunb
ar S
t
Crow
n St
W 10th Ave
Wesbrook Mall
W 4th Ave
NW Marine Dr
Cornwall StPoint Grey Rd
Mac
dona
ld S
t
Marine Dr15th St
21st
St
Inglewood Ave
11th
St
15th
St
Stev
ens D
r
Queens AveSouth
boro
ugh
Dr
Capi
lan
o Rd
Edgemont Blvd
Welch St
Larso
n Rd
Delb
rook
E 29th St
E Gr
and
Blvd
Broo
ksba
nkAv
e
Mountain H
wyE Esplanade Main St W
Riverside Dr
E Ri
versi
de D
r
W Esplanade
Lons
dale
Ave
Ches
ter�
eld
Ave
St G
eorg
es A
ve
W 13th St
Braemar Rd
Mou
ntai
n H
wy
Lynn V
alley R
d
Lillo
oet R
d
W 3rd StE 3rd St
Hyannis Dr
72nd
St
Huston Rd
76th
St
Kent Ave S
Grandview Hwy
Blundell Rd
Harbourside DrHarbourside Pl
Fulton Ave
Mathers Ave
64th Ave
Rd
Ferguson Wy
Ladner Trunk Road
Blue
Mou
ntai
n St
Stav
e La
ke St
Bedw
ell Bay Rd
F
ell
Ave
E Keith Rd
Trans Canada Highway
Lougheed Highway
Simon FraserUniversity
Dollarton HwyOld
Dollarton Rd
Vulcan Wy
Port Mann Bridge
Patullo Bridge
Alex Fraser Bridge
Oak St Bridge
Lion
s Gat
e Br
idge
Queensborough Bridge
Cliveden
Ave
Industrial Wy
W Yale Rd
Lick
man
Rd
Sum
as P
rairi
e Rd
Boun
dary
Rd
Inte
rpro
vinc
ial H
wy
Cole
Rd
McD
erm
ott R
d
Mar
ion
Rd
Dixo
n Rd
Pow
erho
use
Rd
Chad
sey
Rd
Sinclair Rd
Hop
edal
e Rd
S Sumas Rd
Luckakuck Wy
Keith Wilson Rd
Peters Rd
W Yale Rd
Vedder Rd
Prairie Central Rd
Bailey Rd
Watson Rd Promontory Rd
Chilliwack Central Rd
1st Ave
Castleman Rd
Anni
s Rd
Chap
man
Rd
McG
rath
Rd
Ford
Rd
Gibs
on R
d
Pres
t Rd
Youn
g Rd
Banf
ord
Rd
Campbell R
iver Rd
Chi l l iw ackRiver Rd
Gilla
nder
s Rd
Vedder Mountain Rd
Yarrow Central Rd
No. 3 Rd
No. 4 RdFireclay Rd
No. 5 RdAtkinson Rd
Campbell Rd
Wells Line Rd
Dewdney Trunk Rd
Stav
e La
ke R
d
Sylve
ster
Rd
Hawkins Pickle Rd
New
ton
Rd
Eagl
e Rd
R iver Rd South
Nicomen Island Trunk Rd
Nicomen Island Trunk Rd
John
son
Rd
Athe
y RdNo 1 Rd
Chilliwack Mtn Rd
Wellington Ave
Wolfe Rd
Hope River Rd
Chilliwack Lake Rd
Lower S
umas
Mtn
Rd
Sumas Mtn Rd
Upper Sumas Mountai n Rd
Limbert Rd
McCallum Rd
Cam
eron
Rd
Brid
ge R
d
Arthur L
aing
Brid
ge
RdStraiton
Iron Workers M
emo rial Bridge
Stewardson Wy
Colu
mbi
a St
Brunette Ave
Newton Rd
192n
d St
Dawson Rd
Ave
Shau
ghne
ssy S
t
St
Fraser
Wy
North
Com
mer
cial
Dr
Earle
s St
110th Ave
112th Ave
Kingsway
E Hastings Street
E Broadway
Kingsway
Gran
ville
Str
eet
W Broadway
King
Geo
rge
Hig
hway
Fraser Highway
United Blvd
Barnet Highway
Upper
Highway
Levels
Tayl
or W
y
Haney Bypass
Fraser Highway
Trans Canada Highway
56th Ave
176t
h St
Paci
�c H
ighw
ay
Lougheed Highway
South Fraser Way
Mission-abbotsford H
ighway
264t
h St
Alde
rgro
ve -
Bel
lingh
am H
ighw
ay
Trans C
anada Hwy
North P
arallel
South
Parallel
Sumas Way
Trans Canada Hwy
Har
rison
Hot
Spr
ings
Rd
Lougheed Hwy
E Yale Rd
Lougheed Highway
St. Johns St
Westminster Hwy
Fras
er -
Del
ta T
hruw
ay
Richmond Annacis Highway
Cambie Rd
Alderbridge Wy
Will
ingd
on A
ve
King Edward Ave
W 41st Ave
W 12th Ave
SW Marine Dr
W 16th Ave
No. 5
Rd
Steveston Hwy
No. 3
Rd
Canada Wy
Gilm
ore
Ave
WESTHAM ISLAND
TILBURY ISLAND
ANNACISISLAND
MITCHELLISLAND
DOUGLASISLAND
BARNSTON ISLAND
MCMILLAN ISLAND
CRESCENT ISLAND
MATSQUI ISLAND
HOGISLAND
FAIRFIELDISLAND
WINDERMERE ISLAND
SEAISLAND
4
6
7
SurreyIn 2015 there was 1,114,368 SF of net absorption of industrial space in Surrey; currently, in Q2 2016 there has been 247,689 SF of net absorption with approximately 1,275,000 SF under construction and set to complete in the next 6 months. However, of the total amount of space completing construction in the next 6 months only 92,409 SF is speculative, with the remaining being build-to-suit.
Trends > With a lack of developable land and continued strong net absorption figures, vacancy continues to compress. In addition, upward pressure on lease rates as well as strata prices have continued.
> Beedie Development’s Twin Creeks Business Centre (19353 22nd Ave - Phase I) strata units are all either sold or under contract with recent sales at $145 PSF, demonstrating the strong demand for strata space and causing Beedie to trigger their Phase II. The development of strata is a trend that is expected to continue given concerns of rising lease rates with diminishing supply and a low interest rate environment.
Notable Lease TransactionsTENANT NAME - ADDRESS TYPE APPROXIMATE
SIZE (SF)
1.Ministry of Technology, Innovation, and Citizens Services - 12758 80th Avenue
Direct 20,250
2. Oval International - Unit 108, 19347 24th Avenue Direct 10,647
3. Canadian Jerky Ltd. - Unit 2, 2133 191st Street Direct 40,000
Summary Statistics Q2 2015 Q2 2016 Trend
Vacancy Rate 2.3% 2.1%
YTD Net Absorption (SF) 389,519 247,689
YTD New Supply (SF) 226,503 120,092
Under Construction (SF) 786,406 2,015,340
Weighted Average Asking Net Rent ($/SF) $7.83 $7.97
A
Notable Lease Notable Sale New Supply
Upcoming New SupplyADDRESS NAME DEVELOPMENT CLASSIFICATION SIZE (SF) DEVELOPER EXPECTED COMPLETION
A. 12941 115th Avenue Bridgeview Drive Business Centre SPEC 39,900 Sandhurst Group Q4 2016
B. 19068 36 Avenue Sun Processing Ltd. Distribution Centre Built-to-Suit 64,672 Wales McLelland Q3 2016
C. 19091 36 Avenue Starline Windows Ltd. Production Facility Built-to-Suit 466,071 Krahn Engineering Ltd. Q3 2016
Historical Performance and Forecast
B,C
1
Notable Sale TransactionsPURCHASER - ADDRESS PRICE APPROXIMATE
SIZE (SF)
4. Private Investor -8717 132nd Street $7,450,000 67,371
5. Motera Holdings Corp. - Unit 103, 19353 22nd Ave $1,163,335 8,023
6. Private Investor - 14529 66th Avenue (LAND) $6,300,000 4.289 (Ac)
7. Madison Enterprises Inc. - 7930 130th Street $2,600,000 17,400
-400,000
-200,000
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
2014
Q1*
2014
Q2
2014
Q3
2014
Q4
2015
Q1
2015
Q2
2015
Q3
2015
Q4
2016
Q1
2016
Q2
2016
Q3F
2016
Q4F
2017
Q1F
2017
Q2F
New Supply (SF) Net Absorption (SF) Current Qtr Vacancy Rate
2
3 5
CapilanoLake
India
n Arm
BuntzenLake
Pitt Lake
Hatzic Lake
Stave Lake
English Bay
Burrard Inlet
Strait Of Georgia
Mud Bay
Fraser River
CultusLake
Harrison Lake
Harrison Bay
Fraser
River
Fraser River
C.P.
R.
C.N.R.
C.P.R.
C.N.R.
VIA RAIL
SOUTHERN
RAILWAY
C.N.
R.
B.C. RAIL
C.N.R.
C.P.R.
C.P.R.
C.N.
R.
C.N.R.
C.N.R.
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VANCOUVERINTERNATIONAL
AIRPORT
BC FERRIESTERMINAL
TSAWWASSEN
BOUNDARY BAYAIRPORT
LANGLEYAIRPORT
PITT MEADOWSAIRPORT
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Wha
tcom
Rd
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allu
m R
d
Marshall Rd
Huntington Rd
Pear
donv
ille R
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King Rd
Ross
Rd
296t
h St
328t
h St
320t
h St
304t
h St
Mt.
Lehm
an R
d Clea
rbro
ok R
d
McM
illan
RdOld Yale
Clayburn Rd
Old
Bell
Rd
56th Ave
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Rive
rsid
e Rd
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44 Ave
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8th Ave
20th Ave
Page Rd
Glad
win
Rd
48th Ave48th Ave
40th Ave
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r St
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s Rd
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tt Rd
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e La
ke R
d
Hur
d St
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n St
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St
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Keystone Ave
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Wils
on S
t
Hay
war
d St
Duke R
d
280t
h St
80th Ave
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hell
St
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Brad
ner
Rd28
8th
St
Lefe
uvre
Rd
8th Ave
0 Ave Boundary Rd
272n
d St
8th Ave
256t
h St
248t
h St
272n
d St
56th Ave
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d St
280t
h St
112th Ave
100th Ave
112th Ave
256t
h St
256t
h St
264t
h St
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h St
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124th Ave
Dewdney Trunk Rd
102nd Ave
240t
h St
128th Ave128th Ave
232n
d St
227t
h St
224t
h St
Glov
er R
d
Wilson Cr
80th Ave
240t
h St
Brow
n Rd
72nd Ave
Telegraph Tr
Fern
Cr
132nd Ave
144 th St
Neav
es R
d
Laity
St
216t
h St
River Rd
203r
d St
207t
h St
Gold
en E
ars
Brid
ge
208t
h St
100th Ave
96th Ave
88th Ave
Telegraph Tr
216t
h St
To
pham
Rd
200t
h St
72nd Ave 72nd Ave
208t
h St
216t
h St
Glover
Rd
Logan Ave
HWY 10BYPASS
48th Ave
Old Yale Rd
40th Ave
Douglas Cr
208t
h St
53rd Ave
203r
d St
Grade Cr
200t
h St
208t
h St
216t
h St
32nd Ave
240t
h St
24th Ave 24th Ave
224t
h St
232n
d St
16th Ave
176t
h St
0 Ave Boundary Rd
176t
h St
172n
d St
Campbell River Rd
16th Ave
168t
h St
8th Ave
Buena Vista Ave
152n
d St 24th Ave
20th Ave
28th Ave
32nd Ave
184t
h St
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h St
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d St
20th Ave
Colebrook Rd
Paci
�c H
ighw
ay
40th Ave 40th Ave
160t
h St
160t
h St
60th Ave
64th Ave
168t
h St
184t
h St
192n
d St
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Harvie
Rd
160t
h St
92nd Ave
96th Ave
104th Ave
156t
h St
108th Ave
S Fraser Perimeter Rd
Woo
lridg
e Rd
Victoria Dr
Burn
s Rd
Prairie Ave
Ceda
r DrCo
ast M
erid
ian
Rd
Kingsway Ave
Broa
dway
St
Shau
ghne
ssy S
tWoo
dlan
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pelin
e Rd
Panorama Dr
John
son
St
Landsdowne Dr
Pine
tree
Wy
Mary Hill Bypass
Pitt
Rive
r Rd
Dewdney Trunk Rd
Har
ris R
d
Richardson Rd
McNeil Rd
East Rd
Sunn
ysid
e Rd
Ioco Rd
April
Rd
Heritage Mountain Blvd
Clarke
Rd
Como Lake Ave
Mar
iner
Wy
Lint
on S
t
Gate
nsbu
ry R
d
Austin Ave
Marine DrNorth Blu� Rd
128t
h St
20th Ave124t
h St
Bayv
iew
St
24th Ave
28th Ave
140t
h St
Cres cent
R
d 32nd Ave
40th Ave
Colebrook Rd
56th Ave
Stat
ion
Rd
58th Ave 148t
h St
148t
h St
64th Ave 68th Ave
72nd Ave
76th Ave76th Ave
Scot
t Rd
120t
h St
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Kitson Pkwy
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h St
144t
h St
152n
d St
84th Ave
128t
h St
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Norde
l Wy
140t
h St
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88th Ave
92nd Ave
96th Ave
132n
d St
100th Ave
Scott
Rd
100th Ave
104th Ave
108th AveGros
venor
Rd
116th Ave
Hartley Ave
Mt S
eym
our R
d
Deep
Cov
e Rd
Mt Seymour Pkwy
Eton St
Parker St Curtis St
Gaglardi Wy
Gera
ld A
ve
Sper
ling
St
Nort
h Rd
Canada Wy6th St
10th Ave
8th Ave
6th Ave
Queens
Ave
Deer Lake Pkwy
Gille
y Av
e
Roya
l Oak
Ave
Imperial St
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Nels
on A
ve
Marine Dr
Marine Wy
Byrne R
d
Tyne
St
Boun
dary
Rd
Grange St
RdRiver
Derwent Wy
River Rd VantageWy
Progress Wy 80th
St
Hopcott Rd
72nd
St
60th Ave
36th Ave
64th
St
16th Ave
Boundary Bay R
dPoin
t Rob
erts
Rd
1st Ave
6th Ave
12th Ave
52nd
St
56th
St
28th Ave27B Ave
Deltaport Wy
53rd
St
Arth
ur D
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34B Ave
Caus
eway
Rive
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62B
St
No. 6
Rd
No. 7
Rd
No. 8
Rd
Nels
on R
d
No. 9
Rd
Vulc
an W
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Bridgeport Rd
Knight St Bridge
Granville Ave
River Rd
Blundell Rd
Francis Rd
Williams Rd
Gard
en C
ity R
d
No. 4
Rd
Shel
l Rd
Railw
ay A
ve
Westham Island Rd
Robe
rtso
n Rd
Dyke Rd
Gilb
ert R
d
No. 2
Rd
No. 1
Rd
Moncton St
Russ Baker W
y
Grant McConachie Wy
W 70th Ave N Kent AveSE Marine Dr
Twigg Pl
Sprott StWinston StRu
pert
St
Hol
dom
St
Berk
ley
Rd
McGill St
Dundas St
Renf
rew
St
1st Ave
Venables St
Nana
imo
St
E 41st Ave
W 57th Ave W 57th Ave
49th Ave E
Kerr
St
Ellio
t S
t
Vict
oria
Dr
Clar
k Dr
Knig
ht S
t
Fras
er S
t
Mai
n St
E 33rd Ave
E 12th Ave
Gre at Northern Wy
Denman
St
Davie St
Paci�c St
W 33rd Ave
Cam
bie
St
Oak
St
Arbu
tus
StW
Bou
leva
rd
W 49th Ave
Blen
heim
St
Dunb
ar S
t
Crow
n St
W 10th Ave
Wesbrook Mall
W 4th Ave
NW Marine Dr
Cornwall StPoint Grey Rd
Mac
dona
ld S
t
Marine Dr15th St
21st
St
Inglewood Ave
11th
St
15th
St
Stev
ens D
r
Queens AveSouth
boro
ugh
Dr
Capi
lan
o Rd
Edgemont Blvd
Welch St
Larso
n Rd
Delb
rook
E 29th St
E Gr
and
Blvd
Broo
ksba
nkAv
e
Mountain H
wyE Esplanade Main St W
Riverside Dr
E Ri
versi
de D
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W Esplanade
Lons
dale
Ave
Ches
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eld
Ave
St G
eorg
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W 13th St
Braemar Rd
Mou
ntai
n H
wy
Lynn V
alley R
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Lillo
oet R
d
W 3rd StE 3rd St
Hyannis Dr
72nd
St
Huston Rd
76th
St
Kent Ave S
Grandview Hwy
Blundell Rd
Harbourside DrHarbourside Pl
Fulton Ave
Mathers Ave
64th Ave
Rd
Ferguson Wy
Ladner Trunk Road
Blue
Mou
ntai
n St
Stav
e La
ke St
Bedw
ell Bay Rd
F
ell
Ave
E Keith Rd
Trans Canada Highway
Lougheed Highway
Simon FraserUniversity
Dollarton HwyOld
Dollarton Rd
Vulcan Wy
Port Mann Bridge
Patullo Bridge
Alex Fraser Bridge
Oak St Bridge
Lion
s Gat
e Br
idge
Queensborough Bridge
Cliveden
Ave
Industrial Wy
W Yale Rd
Lick
man
Rd
Sum
as P
rairi
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Boun
dary
Rd
Inte
rpro
vinc
ial H
wy
Cole
Rd
McD
erm
ott R
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Mar
ion
Rd
Dixo
n Rd
Pow
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use
Rd
Chad
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Rd
Sinclair Rd
Hop
edal
e Rd
S Sumas Rd
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1st Ave
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s Rd
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man
Rd
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rath
Rd
Ford
Rd
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on R
d
Pres
t Rd
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Rd
Campbell R
iver Rd
Chi l l iw ackRiver Rd
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Yarrow Central Rd
No. 3 Rd
No. 4 RdFireclay Rd
No. 5 RdAtkinson Rd
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Stav
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Sylve
ster
Rd
Hawkins Pickle Rd
New
ton
Rd
Eagl
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R iver Rd South
Nicomen Island Trunk Rd
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John
son
Rd
Athe
y RdNo 1 Rd
Chilliwack Mtn Rd
Wellington Ave
Wolfe Rd
Hope River Rd
Chilliwack Lake Rd
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umas
Mtn
Rd
Sumas Mtn Rd
Upper Sumas Mountai n Rd
Limbert Rd
McCallum Rd
Cam
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Rd
Brid
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Arthur L
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Brid
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RdStraiton
Iron Workers M
emo rial Bridge
Stewardson Wy
Colu
mbi
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Brunette Ave
Newton Rd
192n
d St
Dawson Rd
Ave
Shau
ghne
ssy S
t
St
Fraser
Wy
North
Com
mer
cial
Dr
Earle
s St
110th Ave
112th Ave
Kingsway
E Hastings Street
E Broadway
Kingsway
Gran
ville
Str
eet
W Broadway
King
Geo
rge
Hig
hway
Fraser Highway
United Blvd
Barnet Highway
Upper
Highway
Levels
Tayl
or W
y
Haney Bypass
Fraser Highway
Trans Canada Highway
56th Ave
176t
h St
Paci
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Lougheed Highway
South Fraser Way
Mission-abbotsford H
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264t
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Alde
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Bel
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Trans C
anada Hwy
North P
arallel
South
Parallel
Sumas Way
Trans Canada Hwy
Har
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Hot
Spr
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Rd
Lougheed Hwy
E Yale Rd
Lougheed Highway
St. Johns St
Westminster Hwy
Fras
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Del
ta T
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Richmond Annacis Highway
Cambie Rd
Alderbridge WyW
illin
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Ave
King Edward Ave
W 41st Ave
W 12th Ave
SW Marine Dr
W 16th Ave
No. 5
Rd
Steveston Hwy
No. 3
Rd
Canada Wy
Gilm
ore
Ave
WESTHAM ISLAND
TILBURY ISLAND
ANNACISISLAND
MITCHELLISLAND
DOUGLASISLAND
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MATSQUI ISLAND
HOGISLAND
FAIRFIELDISLAND
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SEAISLAND
9 Research & Forecast Report | Second Quarter 2016 | Metro Vancouver / Industrial | Colliers International
LangleyDuring this quarter some significantly large blocks of inventory were leased including 207,109 SF at 20146 100A Avenue. No new projects came to market and no projects are currently under construction. Despite some availabilities, lease rates are overall on an upward trend.
Trends > Beedie Development’s Parkland Business Centre, located in Gloucester Estates, has seen strong demand with four strata units remaining available; sizes range from 5,436 SF to 11,403 SF and are listed at $170 PSF.
> There is significant available lease inventory in Gloucester including space at 27452 52nd Avenue, 27570 50th Avenue, 4916 275th Avenue and 26596 Gloucester Way; available sizes range from approximately 15,000 SF up to 60,000 SF.
Notable Lease TransactionsTENANT NAME - ADDRESS TYPE APPROXIMATE
SIZE (SF)
1. Film Industry -20146 100A, Ave Direct 207,109
2. Bradner Cold Storage - Unit D, 9087 198th Street Direct 36,058
3. Cascadia Windows - Units 108-110, 5350 275th St. Direct 36,679
Summary Statistics Q2 2015 Q2 2016 Trend
Vacancy Rate 2.9% 3.0%
YTD Net Absorption (SF) 634,441 -92,121
YTD New Supply (SF) 640,972 0
Under Construction (SF) 86,510 0
Weighted Average Asking Net Rent ($/SF) $8.24 $8.63
Notable Lease Notable Sale New Supply
Historical Performance and Forecast
1
Upcoming New Supply
There are no notable construction projects at this time.
Notable Sale TransactionsPURCHASER - ADDRESS PRICE APPROXIMATE
SIZE (SF)
4. Maxim Merchandising Ltd. - Unit A115, 5525 272nd Street $1,826,000 11.126
-300,000
-200,000
-100,000
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
2014
Q1*
2014
Q2
2014
Q3
2014
Q4
2015
Q1
2015
Q2
2015
Q3
2015
Q4
2016
Q1
2016
Q2
2016
Q3F
2016
Q4F
2017
Q1F
2017
Q2F
New Supply (SF) Net Absorption (SF) Current Qtr Vacancy Rate
4
2
3
10Research & Forecast Report | Second Quarter 2016 | Metro Vancouver / Industrial | Colliers International
Abbotsford, Chilliwack & Ridge-MeadowsThe trend of positive net absorption continued in Chilliwack and Abbotsford this quarter with 4,551 SF of net absorption; vacancy remains extremely low at 0.1%, down from 1.2% in Q2 2015. In contrast, Maple Ridge and Pitt Meadows experienced negative absorption totaling to -8,866 SF; subsequently there was a rise in the vacancy rate from 1.4% in Q2 2015 to 2.0% in Q2 2016.
Trends > Golden Ears Business Park has had significant interest and preleasing with Building 200 available August 1, 2016, Building 500 available October 1, 2016 and Building 600 available September 1, 2016 totaling to 453,000 SF currently under construction.
> This quarter saw very strong purchase activity by owner users at Highway 1 Business Park, Chilliwack and is now sold out.
> Abbotsford International Airport has approximately 215 acres of land immediately available for airside and groundside development.
> Planning is underway for a proposed business park located on the Seabird Island Reserve near Chilliwack.
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Hatzic Lake
Stave Lake
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Burrard Inlet
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Fraser River
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Wha
tcom
Rd
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allu
m R
d
Marshall Rd
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Pear
donv
ille R
d
King Rd
Ross
Rd
296t
h St
328t
h St
320t
h St
304t
h St
Mt.
Lehm
an R
d Clea
rbro
ok R
d
McM
illan
RdOld Yale
Clayburn Rd
Old
Bell
Rd
56th Ave
Clayburn Rd
Rive
rsid
e Rd
Fore Rd 60th Ave
44 Ave
16th Ave
8th Ave
20th Ave
Page Rd
Glad
win
Rd
48th Ave48th Ave
40th Ave
Ferndale Ave
Richards Ave
Dale Rd
Farms Rd
Hartley Rd
Dewdney Trunk Rd
1st Ave
7th Ave
14th Ave
22nd Ave
Ceda
r St
Farm
s Rd
Spra
tt Rd
Stav
e La
ke R
d
Hur
d St
Wre
n St
Clay
St
Dewdney Trunk Rd
Keystone Ave
Tyler
Wils
on S
t
Hay
war
d St
Duke R
d
280t
h St
80th Ave
McTavish Rd
Satc
hell
St
Harris Rd
Townshipline Rd
Downes Rd
Brad
ner
Rd28
8th
St
Lefe
uvre
Rd
8th Ave
0 Ave Boundary Rd
272n
d St
8th Ave
256t
h St
248t
h St
272n
d St
56th Ave
272n
d St
280t
h St
112th Ave
100th Ave
112th Ave
256t
h St
256t
h St
264t
h St
248t
h St
112th Ave
124th Ave
Dewdney Trunk Rd
102nd Ave
240t
h St
128th Ave128th Ave
232n
d St
227t
h St
224t
h St
Glov
er R
d
Wilson Cr
80th Ave
240t
h St
Brow
n Rd
72nd Ave
Telegraph Tr
Fern
Cr
132nd Ave
144 th St
Neav
es R
d
Laity
St
216t
h St
River Rd
203r
d St
207t
h St
Gold
en E
ars
Brid
ge
208t
h St
100th Ave
96th Ave
88th Ave
Telegraph Tr
216t
h St
To
pham
Rd
200t
h St
72nd Ave 72nd Ave
208t
h St
216t
h St
Glover
Rd
Logan Ave
HWY 10BYPASS
48th Ave
Old Yale Rd
40th Ave
Douglas Cr
208t
h St
53rd Ave
203r
d St
Grade Cr
200t
h St
208t
h St
216t
h St
32nd Ave
240t
h St
24th Ave 24th Ave
224t
h St
232n
d St
16th Ave
176t
h St
0 Ave Boundary Rd
176t
h St
172n
d St
Campbell River Rd
16th Ave
168t
h St
8th Ave
Buena Vista Ave
152n
d St 24th Ave
20th Ave
28th Ave
32nd Ave
184t
h St
188t
h St
192n
d St
20th Ave
Colebrook Rd
Paci
�c H
ighw
ay
40th Ave 40th Ave
160t
h St
160t
h St
60th Ave
64th Ave
168t
h St
184t
h St
192n
d St
80th Ave
88th Ave
Harvie
Rd
160t
h St
92nd Ave
96th Ave
104th Ave
156t
h St
108th Ave
S Fraser Perimeter Rd
Woo
lridg
e Rd
Victoria Dr
Burn
s Rd
Prairie Ave
Ceda
r DrCo
ast M
erid
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Rd
Kingsway Ave
Broa
dway
St
Shau
ghne
ssy S
tWoo
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pelin
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Panorama Dr
John
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St
Landsdowne Dr
Pine
tree
Wy
Mary Hill Bypass
Pitt
Rive
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Dewdney Trunk Rd
Har
ris R
d
Richardson Rd
McNeil Rd
East Rd
Sunn
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e Rd
Ioco Rd
April
Rd
Heritage Mountain Blvd
Clarke
Rd
Como Lake Ave
Mar
iner
Wy
Lint
on S
t
Gate
nsbu
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Austin Ave
Marine DrNorth Blu� Rd
128t
h St
20th Ave124t
h St
Bayv
iew
St
24th Ave
28th Ave
140t
h St
Cres cent
R
d 32nd Ave
40th Ave
Colebrook Rd
56th Ave
Stat
ion
Rd
58th Ave 148t
h St
148t
h St
64th Ave 68th Ave
72nd Ave
76th Ave76th Ave
Scot
t Rd
120t
h St
80th Ave
Kitson Pkwy
72nd Ave 140t
h St
144t
h St
152n
d St
84th Ave
128t
h St
112t
h St
84th Ave
Norde
l Wy
140t
h St
AnnacisHighway
88th Ave
92nd Ave
96th Ave
132n
d St
100th Ave
Scott
Rd
100th Ave
104th Ave
108th AveGros
venor
Rd
116th Ave
Hartley Ave
Mt S
eym
our R
d
Deep
Cov
e Rd
Mt Seymour Pkwy
Eton St
Parker St Curtis St
Gaglardi Wy
Gera
ld A
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Sper
ling
St
Nort
h Rd
Canada Wy6th St
10th Ave
8th Ave
6th Ave
Queens
Ave
Deer Lake Pkwy
Gille
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Roya
l Oak
Ave
Imperial St
Rumble St
Nels
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Boun
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Rd
Grange St
RdRiver
Derwent Wy
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72nd
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60th Ave
36th Ave
64th
St
16th Ave
Boundary Bay R
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1st Ave
6th Ave
12th Ave
52nd
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56th
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28th Ave27B Ave
Deltaport Wy
53rd
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Arth
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34B Ave
Caus
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62B
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No. 6
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No. 7
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No. 8
Rd
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No. 9
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Bridgeport Rd
Knight St Bridge
Granville Ave
River Rd
Blundell Rd
Francis Rd
Williams Rd
Gard
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No. 4
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Shel
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Railw
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Westham Island Rd
Robe
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Dyke Rd
Gilb
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No. 2
Rd
No. 1
Rd
Moncton St
Russ Baker W
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Grant McConachie Wy
W 70th Ave N Kent AveSE Marine Dr
Twigg Pl
Sprott StWinston StRu
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St
Hol
dom
St
Berk
ley
Rd
McGill St
Dundas St
Renf
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St
1st Ave
Venables St
Nana
imo
St
E 41st Ave
W 57th Ave W 57th Ave
49th Ave E
Kerr
St
Ellio
t S
t
Vict
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Dr
Clar
k Dr
Knig
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Fras
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Mai
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E 33rd Ave
E 12th Ave
Gre at Northern Wy
Denman
St
Davie St
Paci�c St
W 33rd Ave
Cam
bie
St
Oak
St
Arbu
tus
StW
Bou
leva
rd
W 49th Ave
Blen
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Dunb
ar S
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Crow
n St
W 10th Ave
Wesbrook Mall
W 4th Ave
NW Marine Dr
Cornwall StPoint Grey Rd
Mac
dona
ld S
t
Marine Dr15th St
21st
St
Inglewood Ave
11th
St
15th
St
Stev
ens D
r
Queens AveSouth
boro
ugh
Dr
Capi
lan
o Rd
Edgemont Blvd
Welch St
Larso
n Rd
Delb
rook
E 29th St
E Gr
and
Blvd
Broo
ksba
nkAv
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Mountain H
wyE Esplanade Main St W
Riverside Dr
E Ri
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W Esplanade
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dale
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W 13th St
Braemar Rd
Mou
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Lynn V
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Lillo
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W 3rd StE 3rd St
Hyannis Dr
72nd
St
Huston Rd
76th
St
Kent Ave S
Grandview Hwy
Blundell Rd
Harbourside DrHarbourside Pl
Fulton Ave
Mathers Ave
64th Ave
Rd
Ferguson Wy
Ladner Trunk Road
Blue
Mou
ntai
n St
Stav
e La
ke St
Bedw
ell Bay Rd
F
ell
Ave
E Keith Rd
Trans Canada Highway
Lougheed Highway
Simon FraserUniversity
Dollarton HwyOld
Dollarton Rd
Vulcan Wy
Port Mann Bridge
Patullo Bridge
Alex Fraser Bridge
Oak St Bridge
Lion
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idge
Queensborough Bridge
Cliveden
Ave
Industrial Wy
W Yale Rd
Lick
man
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Sum
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rairi
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Boun
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Rd
Inte
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vinc
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wy
Cole
Rd
McD
erm
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Mar
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Rd
Dixo
n Rd
Pow
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Rd
Chad
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Rd
Sinclair Rd
Hop
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e Rd
S Sumas Rd
Luckakuck Wy
Keith Wilson Rd
Peters Rd
W Yale Rd
Vedder Rd
Prairie Central Rd
Bailey Rd
Watson Rd Promontory Rd
Chilliwack Central Rd
1st Ave
Castleman Rd
Anni
s Rd
Chap
man
Rd
McG
rath
Rd
Ford
Rd
Gibs
on R
d
Pres
t Rd
Youn
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Banf
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Rd
Campbell R
iver Rd
Chi l l iw ackRiver Rd
Gilla
nder
s Rd
Vedder Mountain Rd
Yarrow Central Rd
No. 3 Rd
No. 4 RdFireclay Rd
No. 5 RdAtkinson Rd
Campbell Rd
Wells Line Rd
Dewdney Trunk Rd
Stav
e La
ke R
d
Sylve
ster
Rd
Hawkins Pickle Rd
New
ton
Rd
Eagl
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R iver Rd South
Nicomen Island Trunk Rd
Nicomen Island Trunk Rd
John
son
Rd
Athe
y RdNo 1 Rd
Chilliwack Mtn Rd
Wellington Ave
Wolfe Rd
Hope River Rd
Chilliwack Lake Rd
Lower S
umas
Mtn
Rd
Sumas Mtn Rd
Upper Sumas Mountai n Rd
Limbert Rd
McCallum Rd
Cam
eron
Rd
Brid
ge R
d
Arthur L
aing
Brid
ge
RdStraiton
Iron Workers M
emo rial Bridge
Stewardson Wy
Colu
mbi
a St
Brunette Ave
Newton Rd
192n
d St
Dawson Rd
Ave
Shau
ghne
ssy S
t
St
Fraser
Wy
North
Com
mer
cial
Dr
Earle
s St
110th Ave
112th Ave
Kingsway
E Hastings Street
E Broadway
Kingsway
Gran
ville
Str
eet
W Broadway
King
Geo
rge
Hig
hway
Fraser Highway
United Blvd
Barnet Highway
Upper
Highway
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or W
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Haney Bypass
Fraser Highway
Trans Canada Highway
56th Ave
176t
h St
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South Fraser Way
Mission-abbotsford H
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264t
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North P
arallel
South
Parallel
Sumas Way
Trans Canada Hwy
Har
rison
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Spr
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Lougheed Hwy
E Yale Rd
Lougheed Highway
St. Johns St
Westminster Hwy
Fras
er -
Del
ta T
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Richmond Annacis Highway
Cambie Rd
Alderbridge WyW
illin
gdon
Ave
King Edward Ave
W 41st Ave
W 12th Ave
SW Marine Dr
W 16th Ave
No. 5
Rd
Steveston Hwy
No. 3
Rd
Canada Wy
Gilm
ore
Ave
WESTHAM ISLAND
TILBURY ISLAND
ANNACISISLAND
MITCHELLISLAND
DOUGLASISLAND
BARNSTON ISLAND
MCMILLAN ISLAND
CRESCENT ISLAND
MATSQUI ISLAND
HOGISLAND
FAIRFIELDISLAND
WINDERMERE ISLAND
SEAISLAND
Notable Lease TransactionsTENANT NAME - ADDRESS TYPE APPROXIMATE
SIZE (SF)
1. Euclid Admixture Canada Ltd. - Unit 110, 19055 Airport Way Direct 4,173
Summary StatisticsAbbotsford & Chilliwack Maple Ridge & Pitt Meadows
Q2 2015 Q2 2016 Q2 2015 Q2 2016
Vacancy Rate 1.2% 0.1% 1.4% 2.0%
YTD Net Absorption (SF) 246,158 4,551 144,231 -8,866
YTD New Supply (SF) 52,300 0 0 0
Under Construction (SF) 153,702 0 311,000 453,000
Upcoming New SupplyADDRESS NAME DEVELOPMENT
CLASSIFICATION SIZE (SF) DEVELOPER EXPECTED COMPLETION
A. 2195 & 2199 Queen Street - Speculative 91,128 Teck Construction Q2/Q3 2016
B. 19055 Airport Way Golden Ears Business Park Phase II - Building 200 Speculative 203,300 Onni Group Q3 2016
C. 19055 Airport Way Golden Ears Business Park Phase II - Building 600 Speculative 175,000 Onni Group Q4 2016
Abbotsford & Chilliwack Trends Notable Sale TransactionsPURCHASER - ADDRESS PRICE APPROXIMATE
SIZE (SF)
2. AutoCanada - 30150 & 30159 Automall Drive Not disclosed 16,500
on 3.45 (Ac)
3.Abbotsford Storage - 3210 McCallum Road, Abbotsford
$3,800,000 57.765
4.Redco Investments Ltd. - 14160-14170 256th Street, Maple Ridge
$4,200,000 25,952
CapilanoLake
India
n Arm
BuntzenLake
Pitt Lake
Hatzic Lake
Stave Lake
English Bay
Burrard Inlet
Strait Of Georgia
Mud Bay
Fraser River
CultusLake
Harrison Lake
Harrison Bay
Fraser
River
Fraser River
C.P.
R.
C.N.R.
C.P.R.
C.N.R.
VIA RAIL
SOUTHERN
RAILWAY
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SOUTHERN RAILWAY
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CANADAU.S.A.
CANADAU.S.A.
CANADAU.S.A.
University of British Columbia
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VANCOUVERINTERNATIONAL
AIRPORT
BC FERRIESTERMINAL
TSAWWASSEN
BOUNDARY BAYAIRPORT
LANGLEYAIRPORT
PITT MEADOWSAIRPORT
ABBOTSFORD INTERNATIONAL
AIRPORT
Albion Ferry
Burquitlam
Port Moody Centre
Lincoln
Coquitlam CentralInlet Centre
LougheedTown Centre
Burquitlam
Port Moody Centre Inlet CentreCoquitlam Central
Lafarge Lake - Douglas
Lincoln
LougheedTown Centre
Port Moody Centre
PittMeadows
MapleMeadows
PortHaney
MissionCity
CoquitlamCentral
PortCoquitlam
Port Moody Centre
PittMeadows
MapleMeadows
PortHaney
MissionCity
CoquitlamCentral
PortCoquitlam
KingEdward
Broadway/City Hall
Olympic Village
Yaletown/Roundhouse
Oakridge/41st Ave
Langara/49th Ave
Marine Dr
Bridgeport
Aberdeen
Lansdowne
Brighouse
TempletonSea Island
CentreYVR
Airport
VancouverCity Centre
KingEdward
Broadway/City Hall
Olympic Village
Yaletown/Roundhouse
Oakridge/41st Ave
Langara/49th Ave
Marine Dr
Bridgeport
Aberdeen
Lansdowne
Brighouse
TempletonSea Island
CentreYVR
Airport
VancouverCity Centre
Commercial
RupertRenfrew
Gilmore BrentwoodTown Centre
Holdom
Sperling/Burnaby Lake
Lake City WayProduction Way/University
Braid
Sapperton
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VCC/Clark
Commercial
RupertRenfrew
Gilmore BrentwoodTown Centre
Holdom
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Main St
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Joyce
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22nd StNewWestminster
ColumbiaScott Rd
Gateway
SurreyCentral
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Main St
Broadway
Nanaimo
29th Ave
Joyce
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22nd StNewWestminster
ColumbiaScott Rd
Gateway
SurreyCentral
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CHILLIWACK
AGASSIZNEWWESTMINSTER
Vancouver
LangleyLangley
Port Coquitlam
Coquitlam
PittMeadows
MapleRidge
Mission
Abbotsford
White Rock
George Massey Tunnel
Hammond Rd
Fraser Wy
Boundary Rd
Vye Rd
Wha
tcom
Rd
McC
allu
m R
d
Marshall Rd
Huntington Rd
Pear
donv
ille R
d
King Rd
Ross
Rd
296t
h St
328t
h St
320t
h St
304t
h St
Mt.
Lehm
an R
d Clea
rbro
ok R
d
McM
illan
RdOld Yale
Clayburn Rd
Old
Bell
Rd
56th Ave
Clayburn Rd
Rive
rsid
e Rd
Fore Rd 60th Ave
44 Ave
16th Ave
8th Ave
20th Ave
Page Rd
Glad
win
Rd
48th Ave48th Ave
40th Ave
Ferndale Ave
Richards Ave
Dale Rd
Farms Rd
Hartley Rd
Dewdney Trunk Rd
1st Ave
7th Ave
14th Ave
22nd Ave
Ceda
r St
Farm
s Rd
Spra
tt Rd
Stav
e La
ke R
d
Hur
d St
Wre
n St
Clay
St
Dewdney Trunk Rd
Keystone Ave
Tyler
Wils
on S
t
Hay
war
d St
Duke R
d
280t
h St
80th Ave
McTavish Rd
Satc
hell
St
Harris Rd
Townshipline Rd
Downes Rd
Brad
ner
Rd28
8th
St
Lefe
uvre
Rd
8th Ave
0 Ave Boundary Rd
272n
d St
8th Ave
256t
h St
248t
h St
272n
d St
56th Ave
272n
d St
280t
h St
112th Ave
100th Ave
112th Ave
256t
h St
256t
h St
264t
h St
248t
h St
112th Ave
124th Ave
Dewdney Trunk Rd
102nd Ave
240t
h St
128th Ave128th Ave
232n
d St
227t
h St
224t
h St
Glov
er R
d
Wilson Cr
80th Ave
240t
h St
Brow
n Rd
72nd Ave
Telegraph Tr
Fern
Cr
132nd Ave
144 th St
Neav
es R
d
Laity
St
216t
h St
River Rd
203r
d St
207t
h St
Gold
en E
ars
Brid
ge
208t
h St
100th Ave
96th Ave
88th Ave
Telegraph Tr
216t
h St
To
pham
Rd
200t
h St
72nd Ave 72nd Ave20
8th
St
216t
h St
Glover
Rd
Logan Ave
HWY 10BYPASS
48th Ave
Old Yale Rd
40th Ave
Douglas Cr
208t
h St
53rd Ave
203r
d St
Grade Cr
200t
h St
208t
h St
216t
h St
32nd Ave
240t
h St
24th Ave 24th Ave
224t
h St
232n
d St
16th Ave
176t
h St
0 Ave Boundary Rd
176t
h St
172n
d St
Campbell River Rd
16th Ave
168t
h St
8th Ave
Buena Vista Ave
152n
d St 24th Ave
20th Ave
28th Ave
32nd Ave
184t
h St
188t
h St
192n
d St
20th Ave
Colebrook Rd
Paci
�c H
ighw
ay
40th Ave 40th Ave
160t
h St
160t
h St
60th Ave
64th Ave
168t
h St
184t
h St
192n
d St
80th Ave
88th Ave
Harvie
Rd
160t
h St
92nd Ave
96th Ave
104th Ave
156t
h St
108th Ave
S Fraser Perimeter Rd
Woo
lridg
e Rd
Victoria Dr
Burn
s Rd
Prairie Ave
Ceda
r DrCo
ast M
erid
ian
Rd
Kingsway Ave
Broa
dway
St
Shau
ghne
ssy S
tWoo
dlan
d Pi
pelin
e Rd
Panorama Dr
John
son
St
Landsdowne Dr
Pine
tree
Wy
Mary Hill Bypass
Pitt
Rive
r Rd
Dewdney Trunk Rd
Har
ris R
d
Richardson Rd
McNeil Rd
East Rd
Sunn
ysid
e Rd
Ioco Rd
April
Rd
Heritage Mountain Blvd
Clarke
Rd
Como Lake Ave
Mar
iner
Wy
Lint
on S
t
Gate
nsbu
ry R
d
Austin Ave
Marine DrNorth Blu� Rd
128t
h St
20th Ave124t
h St
Bayv
iew
St
24th Ave
28th Ave
140t
h St
Cres cent
R
d 32nd Ave
40th Ave
Colebrook Rd
56th Ave
Stat
ion
Rd
58th Ave 148t
h St
148t
h St
64th Ave 68th Ave
72nd Ave
76th Ave76th Ave
Scot
t Rd
120t
h St
80th Ave
Kitson Pkwy
72nd Ave 140t
h St
144t
h St
152n
d St
84th Ave
128t
h St
112t
h St
84th Ave
Norde
l Wy
140t
h St
AnnacisHighway
88th Ave
92nd Ave
96th Ave
132n
d St
100th Ave
Scott
Rd
100th Ave
104th Ave
108th AveGros
venor
Rd
116th Ave
Hartley Ave
Mt S
eym
our R
d
Deep
Cov
e Rd
Mt Seymour Pkwy
Eton St
Parker St Curtis St
Gaglardi Wy
Gera
ld A
ve
Sper
ling
St
Nort
h Rd
Canada Wy6th St
10th Ave
8th Ave
6th Ave
Queens
Ave
Deer Lake Pkwy
Gille
y Av
e
Roya
l Oak
Ave
Imperial St
Rumble St
Nels
on A
ve
Marine Dr
Marine Wy
Byrne R
d
Tyne
St
Boun
dary
Rd
Grange St
RdRiver
Derwent Wy
River Rd VantageWy
Progress Wy 80th
St
Hopcott Rd
72nd
St
60th Ave
36th Ave
64th
St
16th Ave
Boundary Bay R
dPoin
t Rob
erts
Rd
1st Ave
6th Ave
12th Ave
52nd
St
56th
St
28th Ave27B Ave
Deltaport Wy
53rd
St
Arth
ur D
r
34B Ave
Caus
eway
Rive
r Rd W
62B
St
No. 6
Rd
No. 7
Rd
No. 8
Rd
Nels
on R
d
No. 9
Rd
Vulc
an W
y
Bridgeport Rd
Knight St Bridge
Granville Ave
River Rd
Blundell Rd
Francis Rd
Williams Rd
Gard
en C
ity R
d
No. 4
Rd
Shel
l Rd
Railw
ay A
ve
Westham Island Rd
Robe
rtso
n Rd
Dyke Rd
Gilb
ert R
d
No. 2
Rd
No. 1
Rd
Moncton St
Russ Baker W
y
Grant McConachie Wy
W 70th Ave N Kent AveSE Marine Dr
Twigg Pl
Sprott StWinston StRu
pert
St
Hol
dom
St
Berk
ley
Rd
McGill St
Dundas St
Renf
rew
St
1st Ave
Venables St
Nana
imo
St
E 41st Ave
W 57th Ave W 57th Ave
49th Ave E
Kerr
St
Ellio
t S
t
Vict
oria
Dr
Clar
k Dr
Knig
ht S
t
Fras
er S
t
Mai
n St
E 33rd Ave
E 12th Ave
Gre at Northern Wy
Denman
St
Davie St
Paci�c St
W 33rd Ave
Cam
bie
St
Oak
St
Arbu
tus
StW
Bou
leva
rd
W 49th Ave
Blen
heim
St
Dunb
ar S
t
Crow
n St
W 10th Ave
Wesbrook Mall
W 4th Ave
NW Marine Dr
Cornwall StPoint Grey Rd
Mac
dona
ld S
t
Marine Dr15th St
21st
St
Inglewood Ave
11th
St
15th
St
Stev
ens D
r
Queens AveSouth
boro
ugh
Dr
Capi
lan
o Rd
Edgemont Blvd
Welch St
Larso
n Rd
Delb
rook
E 29th St
E Gr
and
Blvd
Broo
ksba
nkAv
e
Mountain H
wyE Esplanade Main St W
Riverside Dr
E Ri
versi
de D
r
W Esplanade
Lons
dale
Ave
Ches
ter�
eld
Ave
St G
eorg
es A
ve
W 13th St
Braemar Rd
Mou
ntai
n H
wy
Lynn V
alley R
d
Lillo
oet R
d
W 3rd StE 3rd St
Hyannis Dr
72nd
St
Huston Rd
76th
St
Kent Ave S
Grandview Hwy
Blundell Rd
Harbourside DrHarbourside Pl
Fulton Ave
Mathers Ave
64th Ave
Rd
Ferguson Wy
Ladner Trunk Road
Blue
Mou
ntai
n St
Stav
e La
ke St
Bedw
ell Bay Rd
F
ell
Ave
E Keith Rd
Trans Canada Highway
Lougheed Highway
Simon FraserUniversity
Dollarton HwyOld
Dollarton Rd
Vulcan Wy
Port Mann Bridge
Patullo Bridge
Alex Fraser Bridge
Oak St Bridge
Lion
s Gat
e Br
idge
Queensborough Bridge
Cliveden
Ave
Industrial Wy
W Yale Rd
Lick
man
Rd
Sum
as P
rairi
e Rd
Boun
dary
Rd
Inte
rpro
vinc
ial H
wy
Cole
Rd
McD
erm
ott R
d
Mar
ion
Rd
Dixo
n Rd
Pow
erho
use
Rd
Chad
sey
Rd
Sinclair Rd
Hop
edal
e Rd
S Sumas Rd
Luckakuck Wy
Keith Wilson Rd
Peters Rd
W Yale Rd
Vedder Rd
Prairie Central Rd
Bailey Rd
Watson Rd Promontory Rd
Chilliwack Central Rd
1st Ave
Castleman Rd
Anni
s Rd
Chap
man
Rd
McG
rath
Rd
Ford
Rd
Gibs
on R
d
Pres
t Rd
Youn
g Rd
Banf
ord
Rd
Campbell R
iver Rd
Chi l l iw ackRiver Rd
Gilla
nder
s Rd
Vedder Mountain Rd
Yarrow Central Rd
No. 3 Rd
No. 4 RdFireclay Rd
No. 5 RdAtkinson Rd
Campbell Rd
Wells Line Rd
Dewdney Trunk Rd
Stav
e La
ke R
d
Sylve
ster
Rd
Hawkins Pickle Rd
New
ton
Rd
Eagl
e Rd
R iver Rd South
Nicomen Island Trunk Rd
Nicomen Island Trunk Rd
John
son
Rd
Athe
y RdNo 1 Rd
Chilliwack Mtn Rd
Wellington Ave
Wolfe Rd
Hope River Rd
Chilliwack Lake Rd
Lower S
umas
Mtn
Rd
Sumas Mtn Rd
Upper Sumas Mountai n Rd
Limbert Rd
McCallum Rd
Cam
eron
Rd
Brid
ge R
d
Arthur L
aing
Brid
ge
RdStraiton
Iron Workers M
emo rial Bridge
Stewardson Wy
Colu
mbi
a St
Brunette Ave
Newton Rd
192n
d St
Dawson Rd
Ave
Shau
ghne
ssy S
t
St
Fraser
Wy
North
Com
mer
cial
Dr
Earle
s St
110th Ave
112th Ave
Kingsway
E Hastings Street
E Broadway
Kingsway
Gran
ville
Str
eet
W Broadway
King
Geo
rge
Hig
hway
Fraser Highway
United Blvd
Barnet Highway
Upper
Highway
Levels
Tayl
or W
y
Haney Bypass
Fraser Highway
Trans Canada Highway
56th Ave
176t
h St
Paci
�c H
ighw
ay
Lougheed Highway
South Fraser Way
Mission-abbotsford H
ighway
264t
h St
Alde
rgro
ve -
Bel
lingh
am H
ighw
ay
Trans C
anada Hwy
North P
arallel
South
Parallel
Sumas Way
Trans Canada Hwy
Har
rison
Hot
Spr
ings
Rd
Lougheed Hwy
E Yale Rd
Lougheed Highway
St. Johns St
Westminster Hwy
Fras
er -
Del
ta T
hruw
ay
Richmond Annacis Highway
Cambie Rd
Alderbridge Wy
Will
ingd
on A
ve
King Edward Ave
W 41st Ave
W 12th Ave
SW Marine Dr
W 16th Ave
No. 5
Rd
Steveston Hwy
No. 3
Rd
Canada Wy
Gilm
ore
Ave
WESTHAM ISLAND
TILBURY ISLAND
ANNACISISLAND
MITCHELLISLAND
DOUGLASISLAND
BARNSTON ISLAND
MCMILLAN ISLAND
CRESCENT ISLAND
MATSQUI ISLAND
HOGISLAND
FAIRFIELDISLAND
WINDERMERE ISLAND
SEAISLAND
1
A
3
-200,000
-150,000
-100,000
-50,000
0
50,000
100,000
150,000
200,000
250,000
300,000
0%
1%
2%
3%
4%
5%
6%
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
2014
Q1*
2014
Q2
2014
Q3
2014
Q4
2015
Q1
2015
Q2
2015
Q3
2015
Q4
2016
Q1
2016
Q2
2016
Q3F
2016
Q4F
2017
Q1F
New Supply (SF) Net Absorption (SF) Current Qtr Vacancy Rate
2
Notable Lease Notable Sale New Supply
4
B,C
11 Research & Forecast Report | Second Quarter 2016 | Metro Vancouver / Industrial | Colliers International
Glossary
Availability:The amount of available space and available space to be delivered to the market within six months, divided by the market’s inventory base including those future deliveries. Available space is space that is available for lease, sublease, or user sale and may or may not be vacant.
Bulk/Logistics Space:Warehouse space in excess of 100,000 square feet with dock loading and minimum ceiling heights of 24 feet.
Net Absorption:The net change in physically occupied space between the current measurement period and the last measurement period. It can either be positive or negative.
Vacancy Rate:The amount of vacant space divided by the building inventory base. Vacant space is physically unoccupied, and it may or may not be available for lease, sublease, or sale. This is physical vacancy. It is not determined whether a tenant is paying rent on the space.
Weighted Average Asking Net Rent:The dollar amount requested by landlords for direct available space, not including subleases, expressed in dollars per square foot, per annum.
Forecast Assumptions
Absorption was calculated using moving averages of historical absorption data and supplemented with incoming new speculative and build-to-suit developments.
Copyright © 2016 Colliers International.
The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report. *Personal Real Estate Corporation.
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MARKET CONTACT:Kirk Kuester Executive Managing Director | Vancouver Brokerage+1 604 661 [email protected]
Curtis Scott Manager, Market Intelligence | Vancouver+1 604 662 [email protected]
REGIONAL AUTHORS:Scott Sutherland | Market Intelligence Coordinator
CONTRIBUTORS:Sean Bagan John Boer* Chris BrewsterDarren Cannon*Vito DeCicco*Malcolm Earle*Randy Heed*Ewen JohnstonCraig Kincaid-Smith*Greg Lane*Andrew Lord*
Adam MitchellStefan MorissetteChris Morrison*Stuart Morrison*Roy PatTodd Scarlett*Matt Smith*James StarkeDon Viner
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