Vancouver Industrial Real Estate Market
Q1 2026 Vancouver industrial market reported vacancy rate (Metro) at 4.4% (-10 bps QoQ). Avg net asking rent at $18.98/sf and industrial cap rate (mature, multi-tenant) at 5.5%. Additional indicators included future availability rate at 6.4%, net absorption (YTD) at 537K sf, and under construction at 3.4M sf.
Vacancy, net asking rents, cap rates, absorption, submarket detail and public-REIT exposure across Metro Vancouver, drawn from broker research. Q1 2026 · Updated July 8, 2026.
Sources: CBRE industrial Q1 2026; Cushman & Wakefield industrial Q1 2026 · Q1 2026 broker research
Vacancy rate (Metro)
4.4%
1 broker source
Future availability rate
6.4%
1 broker source
Avg net asking rent
$18.98/sf
1 broker source
Net absorption (YTD)
537K sf
1 broker source
Under construction
3.4M sf
1 broker source
Industrial cap rate (mature, multi-tenant)
5.5%
1 broker source
REIT Stack view · Metro Vancouver
The occupancy turn is real; the rent turn is a 2027 story. REIT Stack Research reads Q1's near-sweep of first vacancy declines in three years as the cycle floor forming — while composition and concessions keep the asking-rent print drifting for another year.