Markets · Metro Vancouver
Burnaby Industrial Real Estate
Burnaby is the first stop east of Vancouver, and often the best compromise in the region: bigger and more functional buildings than the city, closer in than the valley, with Highway 1 and SkyTrain running through the middle of it.
Its industrial base splits between the Big Bend flats along the Fraser — large-format distribution and manufacturing — and the Lake City / Still Creek plateau, where flex, tech-industrial and film production cluster around the highway.
Pricing has largely caught up to Vancouver for the best stock, but the buildings earn it: better depth, better loading, better truck access.
Market conditions
Where Burnaby trades.
Lease market · asking bands, net psf
| Submarket | Net asking | Additional rent | Conditions |
|---|---|---|---|
| Burnaby (Big Bend / Lake City) | $18–$23 | $5–$8 | Active — C&W Q3 2025 Burnaby weighted avg: $19.97 net. |
Sale market · indicative psf and cap rates
| Submarket | Strata | Freestanding | Cap rate | Notes |
|---|---|---|---|---|
| Burnaby (Big Bend / Lake City) | $450–$575 | $475–$625 | 4.50%–5.25% |
Indicative bands anchored to public reporting — Cushman & Wakefield Vancouver Industrial Marketbeat (Q3 2025) and CBRE Canada (Q1 2026). Updated 2026-05-27. Confirm current conditions directly before relying on a figure.
Forum research and intelligence do not constitute a formal appraisal, a brokerage opinion of value, legal advice, tax advice or investment advice.
Industrial areas
The districts.
- Big BendThe Fraser flats: large floorplates, distribution and manufacturing.
- Lake CityFlex and tech-industrial around Production Way and Highway 1.
- Still CreekCentral service-industrial spine along the Grandview corridor.
- Bainbridge / DouglasMid-size industrial between Lougheed and the highway.
- GlenlyonMaster-planned business park at the river's edge.
Infrastructure
- Highway 1 through the centre of the municipality, with the Kensington and Gaglardi interchanges
- SkyTrain's Millennium and Expo lines, which drive transit-oriented pressure at industrial edges
- Marine Way connecting Big Bend to Vancouver and New Westminster
- CN and BNSF rail along the Fraser
Zoning and land policy
Burnaby's M-class industrial districts remain substantial, but transit-oriented development pressure around SkyTrain stations is the live land-use story — employment-land review and station-area plans decide the market's edges.
Big Bend remains the municipality's protected heavy-industrial anchor, with floodplain servicing as the practical constraint on intensification.
Observations
- Burnaby absorbs Vancouver's overflow: when an East Vancouver tenant needs a real dock and 24-foot clear, Boundary Road is usually the first line they cross.
- Film and media production competes hard for the same mid-size flex stock as trades and distribution, and pays up for it.
- Owner-user demand is strong and persistent from operators priced out of Vancouver proper.
From the library
Related research and notes.
- ResearchThe Small Bay Supply Squeeze
- ResearchLower Mainland Industrial Relocation Economics
- Policy WatchMetro Vancouver's Industrial Intensification Bet — What Owners Should Know
- Lease MovementLarge-Format Industrial Leasing Is Back — 100,000 sq. ft. Deals Lead the Recovery
- Submarket ReadWhere Metro Vancouver Industrial Tightens — and Where It Doesn't
Official resources
Responsible for industrial real estate in Burnaby?
The Forum prepares market and property-specific intelligence for its members, and brings them together four times a year.