Q3 2026 Industrial Market Dynamics | Greater Vancouver Area

Key market trends:

Vacancy decreased 20 basis points q-o-q to 4.4%, marking the first decline since Q4 2021. The improvement was driven by strong user demand in submarkets along key transportation corridors, led by Delta.

Headlease deals above 50K s.f. increased 34% q-o-q to 711K s.f., as logistics, distribution, and 3PL users pushed forward on large bay transactions to meet supply chain requirements despite tariff uncertainty.

The construction pipeline contracted to 3.2M s.f., down 13.1% y-o-y. Speculative activity fell to 51% from 74% in Q3 2025, as build-to-suit became the primary avenue for larger occupiers seeking purpose-built space.