Selling Industrial Investment Property in Metro Vancouver — Step by Step
An industrial investment sale is won in the months before the listing. Sellers with complete files, defensible pricing and tight due diligence management outperform the market in any cap rate environment.
September 29, 2026 · 2 min read · By Samuel Brahem, in association with NAI Commercial
Prepare before you market
- Three years of operating statements, the rent roll, tax assessments, utilities and every lease with its amendments.
- A lease audit for renewal options, expansion rights, termination clauses, escalations and gaps between paper and practice.
- A building condition assessment and Phase I environmental; Phase II for heavy industrial in Delta or Tilbury.
- Title and survey review for easements, encroachments and currency.
Clean documentation earns a premium. Gaps earn a discount or a failed close.
Pricing
Metro Vancouver industrial cap rates in 2026 run 4.25% to 5.75%. Core Vancouver and Richmond assets with long leases to strong covenants sit at the low end; Port Kells or Langley product, or anything with near-term expiry, sits higher. Four things move the number: in-place rent versus market and whether a buyer can credibly capture the gap, weighted average lease term, tenant covenant, and building function. A 24-foot clear Burnaby warehouse and a 32-foot clear Campbell Heights building draw different buyer pools.
Marketing and offers
Investment-grade assets go out through a confidential information memorandum to qualified buyers under NDA, with a data room behind it. Under $15 million the pool is private investors and smaller institutions; above $30 million it is REITs, pension funds and cross-border capital. Judge offers on deposit size, a 30- to 60-day diligence period, financing conditions and subject sequencing, not headline price alone. A slightly lower all-cash offer often beats a higher conditional one.
Closing and after
Expect 60 to 90 days from acceptance for a straightforward deal; multi-tenant, environmental or assumable-financing deals run longer. Buyers verify the rent roll, inspect roof and HVAC, and request estoppels. Property transfer tax is the buyer's: 1% on the first $200,000, 2% to $2 million, 3% above. Canada has no 1031 equivalent, so plan capital gains with tax counsel early. Redeploying capital is easier than in 2022, with Q2 2026 average sale prices about a third below the peak, though well-leased core assets remain scarce.
