Strata Industrial Ownership in Metro Vancouver — The 2026 Owner-User Case

What you are buying

Strata industrial is a multi-unit building where each bay carries its own title. Units run from 2,000 to 5,000 sq. ft. small bay up to 15,000 sq. ft. and beyond. Formats are flex (warehouse plus office, grade loading, 18 to 24 ft clear), warehouse-dominant, or light manufacturing with upgraded power, ventilation or floor drains.

Strata fees cover insurance, common area maintenance and the reserve fund. Budget $0.15 to $0.35 per sq. ft. per month depending on the age and size of the complex.

Asking prices by submarket

• Vancouver and Burnaby: $550 to $750 per sq. ft. for newer or well-located product
• Richmond: $450 to $600 per sq. ft., with the airport and Highway 99 corridor setting the top end
• Surrey and Delta: $375 to $500 per sq. ft.
• Langley and Abbotsford: $325 to $425 per sq. ft., and the most active new strata construction
• Regional average sale price sits at $450 to $527 per sq. ft., roughly a third below the 2022 high

Against $19.67 to $20.26 net rent in the core, plus $6 to $7 in additional rent, ownership pencils for more businesses than it did two years ago.

The carrying costs nobody prints on the brochure

Expect a 25% to 35% down payment on a commercial mortgage, 20 to 25 year amortization, five to seven year terms, and rates around 5.5% to 7%. Property tax moves onto your books at $2.50 to $4.50 per sq. ft. a year. Add property transfer tax, legal fees and fit-out.

The win is occupancy cost stability, not speculation. Underwrite it that way.

Due diligence before you sign

• Reserve fund balance and depreciation report, so you are not funding a special assessment in year two
• Bylaws on permitted use, hours, signage and vehicle storage
• Engineering reports on common property and upcoming capital work
• Title, easements and registered charges, reviewed by counsel

Who should buy

Established businesses with stable space needs, capital reserves and a long horizon in Greater Vancouver. Fast-growing companies that may outgrow a bay in three years are usually better off leasing. Well-priced units still draw multiple buyers even as days on market lengthen, so have financing and a clear spec ready before the right one lists.