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First Quarter 2016 Market Update
INDUSTRIAL MARKET | Q1 2016
STEFAN MORISSETTE* | SEAN BAGAN
COLLIERS INTERNATIONAL > METRO VANCOUVER
STEFAN MORISSETTE*604 692 [email protected]
SEAN BAGAN604 661 [email protected]
COLLIERS INTERNATIONAL200 Granville Street, 19th FloorVancouver, BC V6C 2R6604 681 4111www.collierscanada.com
11 Research & Forecast Report | First Quarter 2016 | Metro Vancouver / Industrial | Colliers International
Metro Vancouver Market Overview
Market OverviewWith GDP growing at 3.9% in 2015, Metro Vancouver’s economy was ranked the top performing regional economy in Canada by the Conference Board of Canada. The manufacturing sector in Metro Vancouver has recorded consistent growth over the last few years, averaging an annual output of 3.4% from 2011-2015. With a depressed Canadian dollar and strengthening U.S. economy, foreign demand for Canadian goods will rocket exports to new heights, enabling the Vancouver manufacturing sector to achieve 4.7% projected growth in 2016.
With a lack of new supply in the first quarter of 2016, regional vacancy declined to an unprecedented low of 1.7%. Demand continues to surge in the industrial market, but as a result of a highly-constrained supply of developable industrial land and the rezoning of older industrial product towards light industrial or office uses, space is becoming more and more scarce and the disparity between supply and demand continues to grow. Relative to previous quarters, leasing activity continues to decline, with absorption falling from ~1.7 million square feet in Q1 2015 to ~1 million square feet in Q1 2016. That being said, with nearly 4.2 million square feet of new supply under construction over the next 24 months, the market should experience slight relief, offering up more opportunities for tenants and alleviating pressure on demand over the long-term.
Investment MarketThe industrial investment market remains strong, particularly as investors and end-users react to the apparent shortage of available industrial land. Due to this phenomena,and a low interest rate environment, industrial strata product has surfaced as a more viable option for developers and investors. The cost of land and cost of construction has made developers look for other alternatives to lease. Since 2006, total industrial land sale volume exceeded $2.7 billion, with an average annual investment volume of $270 million. 2007 was the strongest year with $388 million, and as of Q3 2015 total investment volume is approximately $286 million. Over the last 10 years, Surrey (32%), Richmond (10%), and Burnaby (10%) represent just over half the sales volumes.1Source: Conference Board of Canada
Market IndicatorsRelative to prior period Q1 2015 Q1 2016 Trend
VACANCY 3.6% 1.7%
YTD NET ABSORPTION (SF) 1,774,088 1,047,454
YTD NEW SUPPLY (SF) 1,107,954 164,800
UNDER CONSTRUCTION (SF) 1,251,510 4,160,345AVERAGE ASKING NET RENT* $8.03 $8.26 *Average Asking Net Rent is calculated using a weighted average
Market Trends and Forecast
Metro Vancouver Land Supply ReportThe recently released Metro Vancouver Inventory Report covered the current and future state of Metro Vancouver’s industrial market. Some salient points from this comprehensive report include the average annual net absorption of land in Metro Vancouver was approximately 938 acres over the period of 2010-2015 and that the “vacant’ industrial land supply might be substantially absorbed by the 2030s.
Q1 2016 Vacant Space by Property Size (SF)
Source: Metro Vancouver 2015 Industrial Lands Inventory, April 2016
-500,000
500,000
1,500,000
2,500,000
0.5%
1.5%
2.5%
3.5%
4.5%
New Supply (SF) Net Absorption (SF) Current Qtr Vacancy Rate
0
500,000
1,000,000
1,500,000
2,000,000
Delta
Rich
mon
d
Burn
aby
Vanc
ouve
r
Surr
ey
New
Wes
tmin
ster
Lang
ley
Coqu
itlam
Port
Coqu
itlam
Ridg
e-M
eado
ws
North
Van
couv
er
Abbo
tsfo
rd
Chilli
wac
k
Port
Moo
dy
Bulk/Logistic (>100,000) Large (30,000-100,000)
Mid (5,000-30,000) Small (0-5,000)
Metro Vancouver Market Overview
In 2015, the Lower Mainland industrial market saw un-precedented activity with over 5,000,000 square feet of positive absorption, more than double the 10 year average. This activity has continued in to 2016 with over 1,000,000 square feet of absorption in the first quarter bringing the overall vacancy rate to 1.7%, down from 3.6% this time last year. This is the first time we have seen vacancy below 2% since before the 2008 economic crash. The story in 2016 will be centered around supply. With such a limited amount of vacancy and new development scheduled for completion this year, tenants and purchasers have very limited options to choose from. This has caused prices for properties for sale to increase and we expect to see moderate increases in lease rates for the balance of the year. 2017 should ease some of the supply constraints with a number of new developments scheduled for completion; however if current demand continues, this supply may be absorbed quickly. Please click the following link for the full first quarter in-dustrial report and statistics (http://www.collierscanada.com/en/news/2016/metro-vancouver-industrial-market-highlights-q1-2016#.VyegcPkrKUk), and please see below for our suc-cessfully completed industrial transactions completed this quarter. As always, please do not hesitate to contact us with any questions.
11 Research & Forecast Report | First Quarter 2016 | Metro Vancouver / Industrial | Colliers International
Metro Vancouver Market Overview
Market OverviewWith GDP growing at 3.9% in 2015, Metro Vancouver’s economy was ranked the top performing regional economy in Canada by the Conference Board of Canada. The manufacturing sector in Metro Vancouver has recorded consistent growth over the last few years, averaging an annual output of 3.4% from 2011-2015. With a depressed Canadian dollar and strengthening U.S. economy, foreign demand for Canadian goods will rocket exports to new heights, enabling the Vancouver manufacturing sector to achieve 4.7% projected growth in 2016.
With a lack of new supply in the first quarter of 2016, regional vacancy declined to an unprecedented low of 1.7%. Demand continues to surge in the industrial market, but as a result of a highly-constrained supply of developable industrial land and the rezoning of older industrial product towards light industrial or office uses, space is becoming more and more scarce and the disparity between supply and demand continues to grow. Relative to previous quarters, leasing activity continues to decline, with absorption falling from ~1.7 million square feet in Q1 2015 to ~1 million square feet in Q1 2016. That being said, with nearly 4.2 million square feet of new supply under construction over the next 24 months, the market should experience slight relief, offering up more opportunities for tenants and alleviating pressure on demand over the long-term.
Investment MarketThe industrial investment market remains strong, particularly as investors and end-users react to the apparent shortage of available industrial land. Due to this phenomena,and a low interest rate environment, industrial strata product has surfaced as a more viable option for developers and investors. The cost of land and cost of construction has made developers look for other alternatives to lease. Since 2006, total industrial land sale volume exceeded $2.7 billion, with an average annual investment volume of $270 million. 2007 was the strongest year with $388 million, and as of Q3 2015 total investment volume is approximately $286 million. Over the last 10 years, Surrey (32%), Richmond (10%), and Burnaby (10%) represent just over half the sales volumes.1Source: Conference Board of Canada
Market IndicatorsRelative to prior period Q1 2015 Q1 2016 Trend
VACANCY 3.6% 1.7%
YTD NET ABSORPTION (SF) 1,774,088 1,047,454
YTD NEW SUPPLY (SF) 1,107,954 164,800
UNDER CONSTRUCTION (SF) 1,251,510 4,160,345AVERAGE ASKING NET RENT* $8.03 $8.26 *Average Asking Net Rent is calculated using a weighted average
Market Trends and Forecast
Metro Vancouver Land Supply ReportThe recently released Metro Vancouver Inventory Report covered the current and future state of Metro Vancouver’s industrial market. Some salient points from this comprehensive report include the average annual net absorption of land in Metro Vancouver was approximately 938 acres over the period of 2010-2015 and that the “vacant’ industrial land supply might be substantially absorbed by the 2030s.
Q1 2016 Vacant Space by Property Size (SF)
Source: Metro Vancouver 2015 Industrial Lands Inventory, April 2016
-500,000
500,000
1,500,000
2,500,000
0.5%
1.5%
2.5%
3.5%
4.5%
New Supply (SF) Net Absorption (SF) Current Qtr Vacancy Rate
0
500,000
1,000,000
1,500,000
2,000,000De
lta
Rich
mon
d
Burn
aby
Vanc
ouve
r
Surr
ey
New
Wes
tmin
ster
Lang
ley
Coqu
itlam
Port
Coqu
itlam
Ridg
e-M
eado
ws
North
Van
couv
er
Abbo
tsfo
rd
Chilli
wac
k
Port
Moo
dy
Bulk/Logistic (>100,000) Large (30,000-100,000)
Mid (5,000-30,000) Small (0-5,000)
11 Research & Forecast Report | First Quarter 2016 | Metro Vancouver / Industrial | Colliers International
Metro Vancouver Market Overview
Market OverviewWith GDP growing at 3.9% in 2015, Metro Vancouver’s economy was ranked the top performing regional economy in Canada by the Conference Board of Canada. The manufacturing sector in Metro Vancouver has recorded consistent growth over the last few years, averaging an annual output of 3.4% from 2011-2015. With a depressed Canadian dollar and strengthening U.S. economy, foreign demand for Canadian goods will rocket exports to new heights, enabling the Vancouver manufacturing sector to achieve 4.7% projected growth in 2016.
With a lack of new supply in the first quarter of 2016, regional vacancy declined to an unprecedented low of 1.7%. Demand continues to surge in the industrial market, but as a result of a highly-constrained supply of developable industrial land and the rezoning of older industrial product towards light industrial or office uses, space is becoming more and more scarce and the disparity between supply and demand continues to grow. Relative to previous quarters, leasing activity continues to decline, with absorption falling from ~1.7 million square feet in Q1 2015 to ~1 million square feet in Q1 2016. That being said, with nearly 4.2 million square feet of new supply under construction over the next 24 months, the market should experience slight relief, offering up more opportunities for tenants and alleviating pressure on demand over the long-term.
Investment MarketThe industrial investment market remains strong, particularly as investors and end-users react to the apparent shortage of available industrial land. Due to this phenomena,and a low interest rate environment, industrial strata product has surfaced as a more viable option for developers and investors. The cost of land and cost of construction has made developers look for other alternatives to lease. Since 2006, total industrial land sale volume exceeded $2.7 billion, with an average annual investment volume of $270 million. 2007 was the strongest year with $388 million, and as of Q3 2015 total investment volume is approximately $286 million. Over the last 10 years, Surrey (32%), Richmond (10%), and Burnaby (10%) represent just over half the sales volumes.1Source: Conference Board of Canada
Market IndicatorsRelative to prior period Q1 2015 Q1 2016 Trend
VACANCY 3.6% 1.7%
YTD NET ABSORPTION (SF) 1,774,088 1,047,454
YTD NEW SUPPLY (SF) 1,107,954 164,800
UNDER CONSTRUCTION (SF) 1,251,510 4,160,345AVERAGE ASKING NET RENT* $8.03 $8.26 *Average Asking Net Rent is calculated using a weighted average
Market Trends and Forecast
Metro Vancouver Land Supply ReportThe recently released Metro Vancouver Inventory Report covered the current and future state of Metro Vancouver’s industrial market. Some salient points from this comprehensive report include the average annual net absorption of land in Metro Vancouver was approximately 938 acres over the period of 2010-2015 and that the “vacant’ industrial land supply might be substantially absorbed by the 2030s.
Q1 2016 Vacant Space by Property Size (SF)
Source: Metro Vancouver 2015 Industrial Lands Inventory, April 2016
-500,000
500,000
1,500,000
2,500,000
0.5%
1.5%
2.5%
3.5%
4.5%
New Supply (SF) Net Absorption (SF) Current Qtr Vacancy Rate
0
500,000
1,000,000
1,500,000
2,000,000
Delta
Rich
mon
d
Burn
aby
Vanc
ouve
r
Surr
ey
New
Wes
tmin
ster
Lang
ley
Coqu
itlam
Port
Coqu
itlam
Ridg
e-M
eado
ws
North
Van
couv
er
Abbo
tsfo
rd
Chilli
wac
k
Port
Moo
dy
Bulk/Logistic (>100,000) Large (30,000-100,000)
Mid (5,000-30,000) Small (0-5,000)
Stefan Morissette*Associate Vice President | IndustrialDirect: 604-692-1428Email: [email protected]
Sean BaganJunior AssociateDirect: 604-661-0821Email: [email protected]
www.collierscanada.com
INDUSTRIAL MARKET UPDATE | Q1 2016 | STEFAN MORISSETTE* | SEAN BAGAN
1388 Derwent Way,Delta, BC29,730 SF Freestanding Ware-house/Office facility on Annacis Island > 25’ clear ceiling height > 2 Dock and One Grade loading doors > 1,200 amp/600 volt, 3-phase
electrical service > Fully sprinklered > Extensive loading area > 2.33 acre site
530 Chester Road,Delta, BC19,294 SF Quality Warehouse/Of-fice with Dock Loading > 19,294 SF quality distribution facility,
strategically located on Annacis Island.
> 22’ clear ceiling height > Two (2) dock loading doors > Overhead gas fired unit heaters > Ample onsite parking and excellent
truck maneuvering areas
730 Eaton Way,Unit 10, Delta, BC4,772 SF of Office/Warehouse Space on Annacis Island > 20’ clear ceiling height > Two (2) grade level loading doors > 3-tonne overhead crane > Fully sprinklered > 600A/600V, 3-phase electrical
service > Up to eight (8) private offices and
one (1) boardroom
7553 Progress Way, Delta, BCLease of a 18,180 square foot ware-house/office facility in Tilbury, fea-turing high quality concrete tilt-up construction, 26’ ceiling height, two dock and one grade loading doors.
7337 North Fraser Way, Unit 106, Burnaby, BCPurchase of a 12,248 SF strata unit in Conwest newest develop-ment, located in South Burnaby on the southeast corner of North Fraser Way and Byrne Road.
8275 92nd Street,Unit 108/208, Delta, BCLease of 3,286 SF of first and second floor office/warehouse space in Buckingham Industrial Estates
11971, 11991 & 12011 Mitchell Road, Richmond, BCSublease of a 2.18 acre paved and fenced site with yard lighting and a 4,600 SF office/shop facility, located on Annacis Island.
For Sale/Lease
Lee G. Hester*Senior Vice President Office +1 604 998 6038Cell +1 604 671 [email protected]*Personal Real Estate Corporation
Jonathan JassebiSales Associate Office +1 604 998 6141Cell +1 778 883 [email protected]
Buckingham Industrial Estates8275 & 8257 92nd Street, Delta, BC
OVER 60% LEASED
jll.ca
LEASED
LEASED
11200 Twigg Place,Richmond, BC4 Acre Site on Mitchell Island > Located in Mitchell West Industrial
Park > Fenced and leveled > Access to major traffic arteries > Two (2) points of access and
egress onto Twigg Place
LEASED
UNDER CONTRACT
TENANT REP
TENANT REP
TENANT REP
1587 Derwent Way, Unit A, Delta, BC15,318 SF Warehouse/Office Facil-ity with Dock and Grade Loading > Sublease of a 15,318 SF office and
warehouse facility on Annacis Island > 26’ clear ceiling height > Dock and grade level loading > Approximately 30 parking stalls.
SUBLEASED
7959 82nd Street, Delta, BC24,915 SF Premium Fresstanding Warehouse/Office Facility in Tilbury > High quality concrete tilt-up
construction on a 1.10 acre site > Three (3) dock level loading doors > Three (3) grade level loading doors > 26’ clear ceiling height > Fully sprinklered > Ample loading area
SOLD
SOLD
www.collierscanada.com
INDUSTRIAL MARKET UPDATE | Q1 2016 | STEFAN MORISSETTE* | SEAN BAGAN
11420 Horseshoe Way,Richmond, BCLease of a 5,530 SF Office/Ware-house Unit in Riverside Industrial Park, featuring 19.5’ ceiling height, one grade loading door and two gas forced heaters in warehouse area.
12180 Horseshoe Way,Unit 4, Richmond, BC3,040 SF Strata Warehouse/Office Unit > Concrete block construction > One (1) grade level loading door > 18’ clear ceiling height > Second floor office area with HVAC > Kitchenette > First and second floor washrooms
14488 Knox Way,Unit 148, Richmond, BC3,597 SF Warehouse with Dock and Grade Loading in North Richmond > Concrete tilt-up construction > 24’ ceiling height > One (1) dock and One (1) grade level
loading door > 100 amp, 120/280 volt, 3-phase
electrical service > 500 lb per SF floor load capacity > Fully sprinklered
11471 Blacksmith PlaceUnit 101, Richmond, BCCentrally located 3,462 SF Office/Warehouse Facility with Dock Load-ing in South Richmond > Attractive landscaping > Dock level loading with levellers > 16’ warehouse ceiling height > Proactive management > Ample parking and ample truck court
with room for up to 53’ trailers > Pylon signage available
13431 Maycrest Way, Units 110 & 140B, Richmond, BCDock Loading Facility in Crestwood Industrial Park > Unit 110: 3,500 SF warehouse/office > Unit 140B: 4,939 SF warehouse > Dock level loading > 19’ clear ceiling heights in warehouse > 500 lb. per square foot floor loading
capacity > Fully sprinklered and 3-phase power > Ample parking
23006 Hamilton Road, Richmond, BCLease of a 22,651 square foor parcel situated on the corner of Fraserwood Road and Dyke Road, within close proximity to Highways 91 and 91A.
LEASED
LEASED
SOLD
6260 Graybar Road,Unit 165/170, Richmond, BC5,200 SF Warehouse/Office Unit with Dock and Grade Loading > 20’ ceiling height > Two (2) dock and One (1) grade level
loading bays > Fully sprinklered > Gas fire forced air heaters in
warehouse > Three phase power > New improved offices
SUBLEASED
6660 Graybar Road,Unit 100, Richmond, BCFor Sale by Court Order - Industrial Strata Unit in East Richmond > 5,000 SF (approx.) over two levels > Prime corner commercial strata unit
with second floor office space > Grade level dock in the rear of the
building > Easily accessible from many major
routes > Ample surface parking
UNDER CONTRACT
3511-3571 Viking Way,Unit 5/6, Richmond, BC7,200 SF Office/Warehouse at Knightsbridge Business Centre > One dock level loading door per bay > Ideal for small to medium
distributors, light manufacturing, warehousing, assembly
> Excellent expansion possibilities within the park
> Central location and great exposure > Concrete tilt-up construction
UNDER CONTRACT
TENANT REP
TENANT REP
LEASED
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2016. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls Brokerage Inc. (Vancouver). *Personal Real Estate Corporation.
COLLIERS INTERNATIONAL200 Granville Street, 19th FloorVancouver, BC V6C 2R6604 681 4111www.collierscanada.com
Contact Us
STEFAN MORISSETTE*
604 692 1428
SEAN BAGAN
604 661 0821
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Fras
er Pe
rimete
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17A
10
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CANADAU.S.A.
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University of British Columbia
1
1
1
1
1
1
99
17
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80th Ave
Kitson Pkwy
72nd Ave 140t
h St
144th
St
152n
d St
84th Ave
128th
St
112th
St
84th Ave
Nordel W
y
140t
h St
AnnacisHighway
88th Ave
92nd Ave
96th Ave
132n
d St
100th Ave
Scott R
d
100th Ave
104th Ave
108th AveGros
venor
Rd
116th Ave
Hartley Ave
Mt S
eymour
Rd
Deep
Cov
e Rd
Mt Seymour Pkwy
Eton St
Parker St Curtis St
Gaglardi Wy
Geral
d Ave
Sper
ling S
t
North
Rd
Canada Wy
6th St
10th Ave
8th Ave
6th Ave
Queens A
ve
Deer Lake Pkwy
Gilley
Ave
Roya
l Oak
Ave
Imperial St
Rumble St
Nelso
n Ave
Marine Dr
Marine Wy
Byrne R
dTy
ne S
t
Boun
dary
Rd
Grange St
RdRiver
Derwent Wy
River Rd VantageWy
Progress Wy 80th
St
Hopcott Rd
72nd
St
60th Ave
36th Ave
64th
St
16th Ave
Boundary Bay RdPoint
Rob
erts
Rd
1st Ave
6th Ave
12th Ave
52nd
St
56th
St
28th Ave27B Ave
Deltaport Wy
53rd
St
Arthu
r Dr
34B Ave
Causew
ay
River
Rd
W
62B
St
No. 6
Rd
No. 7
Rd
No. 8
Rd
Nelso
n Rd
No. 9
Rd
Vulca
n Wy
Bridgeport Rd
Knight St Bridge
Granville Ave
River Rd
Blundell Rd
Francis Rd
Williams Rd
Gard
en C
ity R
d
No. 4
Rd
Shell
Rd
Railw
ay A
ve
Westham Island Rd
Robe
rtson
Rd
Dyke Rd
Gilbe
rt Rd
No. 2
Rd
No. 1
Rd
Moncton St
Russ Baker W
y
Grant McConachie Wy
W 70th Ave N Kent AveSE Marine Dr
Twigg Pl
Sprott StWinston StRu
pert
St
Holdo
m St
Berkl
ey R
d
McGill St
Dundas St
Renfr
ew S
t
1st Ave
Venables St
Nana
imo S
t
E 41st Ave
W 57th Ave W 57th Ave
49th Ave E
Kerr
St
Elliot
St
Victor
ia Dr
Clark
DrKn
ight S
t
Fras
er St
Main
St
E 33rd Ave
E 12th Ave
Gre at Northern Wy
Denman
St
Davie StPaci�c St
W 33rd Ave
Camb
ie St
Oak S
t
Arbu
tus S
tW
Boule
vard
W 49th Ave
Blenh
eim S
t
Dunb
ar St
Crow
n St
W 10th Ave
Wesbrook Mall
W 4th Ave
NW Marine Dr
Cornwall StPoint Grey Rd
Macd
onald
St
Marine Dr15th St
21st
St
Inglewood Ave 11th S
t
15th
St
Stevens
Dr
Queens AveSouthbo
rough
Dr
Capil
ano Rd
Edgemont Blvd
Welch St
Larson
Rd
Delbr
ook
E 29th St
E Gr
and B
lvd
Broo
ksba
nkAv
e
Mountain HwyE Esplanade Main St W Riverside Dr
E Rive
rside
Dr
W Esplanade
Lons
dale
Ave
Ches
ter�e
ld Av
e
St G
eorge
s Ave
W 13th St
Braemar Rd
Moun
tain H
wy
Lynn Valley R
d
Lilloo
et
Rd
W 3rd StE 3rd St
Hyannis Dr
72nd
St
Huston Rd
76th
St
Kent Ave S
Grandview Hwy
Blundell Rd
Harbourside DrHarbourside Pl
Fulton Ave
Mathers Ave
64th Ave
Rd
Ferguson Wy
Ladner Trunk Road
Blue
Moun
tain S
t
Stav
e La k
e St
Bedw
ell Bay Rd
Fe
ll Av
e
E Keith Rd
Trans Canada Highway
Lougheed Highway
Simon FraserUniversity
Dollarton HwyOld
Dollarton Rd
Vulcan Wy
Port Mann Bridge
Patullo Bridge
Alex Fraser Bridge
Oak St Bridge
Lions
Gate
Bridg
e
Queensborough BridgeCliveden A
ve
Industrial Wy
W Yale Rd
Lickm
an R
d
Suma
s Prai
rie R
d
Boun
dary
Rd
Inter
prov
incial
Hwy
Cole
Rd
McDe
rmott
Rd
Mario
n Rd
Dixo
n Rd
Powe
rhou
se R
d
Chad
sey R
d
Sinclair Rd
Hope
dale
Rd
S Sumas Rd
Luckakuck Wy
Keith Wilson Rd
Peters Rd
W Yale Rd
Vedder Rd
Prairie Central Rd
Bailey Rd
Watson Rd Promontory Rd
Chilliwack Central Rd
1st Ave
Castleman Rd
Annis
Rd
Chap
man R
d
McGr
ath R
dFo
rd R
d
Gibso
n Rd
Pres
t Rd
Youn
g Rd
Banfo
rd R
d
Campbell River Rd
Chi l l iw ackRiver Rd
Gillan
ders
Rd
Vedder Mountain Rd
Yarrow Central Rd
No. 3 Rd
No. 4 RdFireclay Rd
No. 5 RdAtkinson Rd
Campbell Rd
Wells Line Rd
Dewdney Trunk Rd
Stav
e L
ake R
d
Sylve
ster R
d
Hawkins Pickle Rd
Newt
on R
d
Eagle
Rd
R iver Rd South
Nicomen Island Trunk Rd
Nicomen Island Trunk Rd
John
son R
d
Athey Rd
No 1 Rd
Chilliwack Mtn Rd
Wellington Ave
Wolfe Rd
Hope River Rd
Chilliwack Lake Rd
Lower Sumas M
tn Rd
Sumas Mtn Rd
Upper Sumas Mountai n Rd
Limbert Rd
McCallum Rd
Came
ron R
d
Bridg
e Rd
Arthur Lain
g B
ridge
RdStraiton
Iron Workers Memo rial Bridge
Stewardson Wy
Colum
bia St
Brunette Ave
Newton Rd
192n
d St
Dawson Rd
Ave
Shau
ghne
ssy St
St
Fraser
Wy
North
Comm
ercial
Dr
Earle
s St
110th Ave
112th Ave
Kingsway
E Hastings Street
E Broadway
Kingsway
Gran
ville
Stree
t
W Broadway
King G
eorge
High
way
Fraser Highway
United Blvd
Barnet Highway
Upper
Highway
Levels
Taylo
r Wy
Haney Bypass
Fraser Highway
Trans Canada Highway
56th Ave
176th
St
Paci�
c High
way
Lougheed Highway
South Fraser Way
Mission-abbotsford Highway
264th
St
Alderg
rove -
Bell
ingha
m Hi
ghwa
y
Trans Canada Hwy
North Para
llel
South Parallel
Sumas Way
Trans Canada Hwy
Harri
son H
ot Sp
rings
Rd
Lougheed Hwy
E Yale Rd
Lougheed Highway
St. Johns St
Westminster Hwy
Fras
er -
Delt
a Thr
uway
Richmond Annacis Highway
Cambie Rd
Alderbridge WyWi
llingd
on A
ve
King Edward Ave
W 41st Ave
W 12th Ave
SW Marine Dr
W 16th AveNo
. 5 R
d
Steveston Hwy
No. 3
Rd
Canada Wy
Gilmo
re Av
e
WESTHAM ISLAND
TILBURY ISLAND
ANNACISISLAND
MITCHELLISLAND
DOUGLASISLAND
BARNSTON ISLAND
MCMILLAN ISLAND
CRESCENT ISLAND
MATSQUI ISLAND
HOGISLAND
FAIRFIELDISLAND
WINDERMERE ISLAND
SEAISLAND
INDUSTRIAL MARKET UPDATE | Q1 2016 | STEFAN MORISSETTE* | SEAN BAGAN
13
4
LEASED / SUBLEASED
1 1388 Derwent Way, Delta
3 530 Chester Road, Delta
5 1587 Derwent Way, Unit A, Delta
6 730 Eaton Way, Unit 10, Delta
9 11200 Twigg Place, Richmond
12 13431 Maycrest Way, Units 110-140B, Richmond
13 3511-3571 Viking Way, Unit 5/6, Richmond
15 6260 Graybar Road, Unit 165/170, Richmond
17 14488 Knox Way, Unit 148, Richmond
18 11471 Blacksmith Place, Unit 101, Richmond
TENANT REPRESENTATION
4 7553 Progress Way, Delta
7 8275 92nd Street, Unit 108/208, Delta
10 11971, 11991 & 12011 Mitchell Road, Richmond
11 23006 Hamilton Road, Richmond
14 11420 Horseshoe Way, Richmond
SOLD
2 7959 82nd Street, Delta
8 7337 North Fraser Way, Unit 106, Burnaby
16 6660 Graybar Road, Unit 100, Richmond
19 12180 Horseshoe Way, Unit 4, Richmond
16 1
9
15 3
17
6
18
12
5
19
2
11
14
7
108