Markets · Metro Vancouver
Vancouver Industrial Real Estate
Vancouver proper is the most constrained industrial market in the region. The city's industrial districts are small, historic, hemmed in by residential land and transit corridors, and almost never add supply — what exists is what there is.
That scarcity defines everything: the tightest availability in Metro Vancouver, a premium on identity districts like Mount Pleasant and Strathcona, and constant tension between industrial users who need the space and redevelopment interests that want the land.
For the businesses that operate here, the trade is explicit. Vancouver buys proximity — to customers, to staff, to the port — and pays for it in rent, in aging stock, and in loading compromises that would be unthinkable east of Boundary Road.
Market conditions
Where Vancouver trades.
Lease market · asking bands, net psf
| Submarket | Net asking | Additional rent | Conditions |
|---|---|---|---|
| Mount Pleasant | $22–$28 | $7–$10 | Tight — Premium identity; small bay scarce; redevelopment optionality. |
| False Creek Flats | $20–$26 | $7–$10 | Rising — Larger floorplates; zoning evolution in play. |
| Strathcona | $21–$27 | $7–$10 | Tight — Brewery + food cluster; rarely vacant. |
| East Vancouver | $18–$23 | $6–$9 | Active |
| South Vancouver | $18–$23 | $6–$9 | Active |
| Marine Drive | $19–$24 | $7–$9 | Active |
| Hastings Sunrise | $17–$22 | $6–$9 | Moderate |
Sale market · indicative psf and cap rates
| Submarket | Strata | Freestanding | Cap rate | Notes |
|---|---|---|---|---|
| Mount Pleasant | $600–$800 | $700–$1000 | 4.00%–4.75% | Land-driven; redevelopment optionality skews high. |
| False Creek Flats | — | $550–$750 | 4.00%–5.00% | |
| Strathcona | $550–$750 | $600–$800 | 4.25%–5.00% | |
| East Vancouver | $475–$625 | $525–$700 | 4.50%–5.25% | |
| South Vancouver | $475–$625 | $525–$700 | 4.50%–5.25% | |
| Marine Drive | $500–$650 | $550–$725 | 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.
- Mount PleasantPremium identity district; small bay is scarce and tightly held.
- False Creek FlatsLarger floorplates close to downtown; zoning evolution in play.
- StrathconaBrewery and food cluster; rarely vacant.
- RailtownCharacter stock at the port's edge; design and maker tenancies.
- East VancouverThe city's working mid-market for trades and light manufacturing.
- South VancouverThe largest contiguous industrial area in the city, toward the Fraser.
- Marine DriveLinear corridor that sells exposure; showroom-industrial.
- Grandview WoodlandPocket industrial with strong character; rarely lists.
- Hastings SunriseFunctional space along the Hastings spine, transitioning into the port.
Infrastructure
- Port of Vancouver terminals on Burrard Inlet and the north arm of the Fraser
- Knight Street and Oak Street bridges to Richmond; Boundary Road to Burnaby
- Grandview and Clark corridors connecting the port to Highway 1
- The Broadway subway extension, which is reshaping land expectations at the industrial edge
Zoning and land policy
Vancouver's industrial zones (I-1 through I-4, M and IC districts) protect a shrinking base of employment land. Council policy has repeatedly reaffirmed industrial retention, but conversion pressure at district edges is constant.
The Regional Industrial Lands Strategy treats Vancouver's stock as effectively irreplaceable: once converted, industrial land here does not come back.
Observations
- Vancouver's industrial vacancy is structurally lower than the regional average — space trades on relationships and timing, and much of it never reaches public marketing.
- The premium districts price like retail: identity and adjacency carry as much weight as clear height.
- Users who outgrow Vancouver rarely leave by choice. The move east is a capacity decision, not a preference.
From the library
Related research and notes.
- ResearchVancouver Industrial Scarcity: Why Supply Won't Catch Up
- ResearchThe Small Bay Supply Squeeze
- Tenant StrategyVancouver Industrial Real Estate: What Tenants Need to Know in 2026
- Industrial ZonesMount Pleasant Industrial Real Estate: Scarcity, Demand, and Redevelopment Pressure
- Industrial ZonesFalse Creek Flats Industrial Market Overview
- Industrial ZonesEast Vancouver Industrial Space: What Businesses Should Know
- Submarket ReadWhere Metro Vancouver Industrial Tightens — and Where It Doesn't
Responsible for industrial real estate in Vancouver?
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