CREW<\/a>. \u201cThe main driver is land pricing and land availability, so if you\u2019re a developer who doesn\u2019t have hundreds of acres in your land bank for future uses, you have to hit the market with owner-users, and others, and, in core markets, you end up buying land at a hefty price tag. The only way to maximize what zoning allows is stacked industrial.\u201d<\/p>\nVancouver\u2019s zoning bylaws are more liberal than surrounding municipalities\u2019, allowing for some creativity, but Tihanenoks suspects it\u2019s only a matter of time before the entirety of Greater Vancouver follows suit. However, Vancouver isn\u2019t the only municipality in the metropolitan that allows stacked industrial facilities. In 2019, Oxford Properties Group launched Canada\u2019s first stacked industrial development in Burnaby, a 707,000 sq ft warehouse with an upper floor accessible to transport trucks.<\/p>\n
Additionally, Union Allied is building 1308 Adanac in East Vancouver, and according to the company\u2019s investment and acquisition director, the development\u2019s offerings are consistent with the most common inquiries, which are for dock loading, high ceilings, street exposure and transportation, but most importantly it reflects the industrial sector\u2019s evolving needs.<\/p>\n
\u201cThe global shift to e-commerce during the pandemic has only increased demand for our supply-constrained city. The city has to undergo a reshuffle where people who have existing amenities, like grade access and dock loading, need to begin asking themselves if they need it given the high cost of these spaces, or if their business is of a lighter industrial use and can survive in a multilevel environment\u201d said Michael Chiang. \u201cMoving forward, the way to adapt is to develop true logistics based on multilevel industrial like those in other parts of the world have limited land, like Hong Kong, Japan, Taiwan.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Voracious demand and a dearth of available land have compelled industrial real estate developers in Vancouver to get creative. Stacked industrial facilities optimize square footage while tightening the reins on construction budgets, and although not very common outside of Asia and parts of Europe, Ilya Tihanenoks, a broker and associate vice president of CBRE Vancouver, […]<\/p>\n","protected":false},"author":6,"featured_media":27394,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/9157"}],"collection":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/comments?post=9157"}],"version-history":[{"count":2,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/9157\/revisions"}],"predecessor-version":[{"id":23614,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/9157\/revisions\/23614"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media\/27394"}],"wp:attachment":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media?parent=9157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/categories?post=9157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/tags?post=9157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}