Commercial sector near record in this market

The Richmond/Delta market is seeing near-record levels of activity in industrial real estate. Avison Young’s market report reveals a 2 per cent drop in the Richmond industrial vacancy rate year-over-year by the end of 2015; while Delta’s industrial vacancies dropped to 4 per cent having been above 5 per cent since 2009.

Total transactions for 2015 reached $133 million in Delta and $268 million in Richmond and developers are working to create additional capacity as demand in the region continues its strong path.

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