Warehouses across North America continue to be at full capacity, largely due to persisting congestion at ports and in the supply chain. In our local Greater Vancouver market, Colliers reports that 3rd quarter warehousing vacancy rates are at 0.5%, a record low, and asking rents have increased 13.2% year-over-year and at an all-time high. There have been no vacancies of warehousing or logistics spaces over 50,000 square feet for two consecutive quarters.
As a 3PL, Canaan Group is fortunate to own our own warehousing space in Greater Vancouver and to have expanded our warehousing capacity in Toronto. We continue to work with customers looking for long-term contracts. If you’d like to discuss how a long-term contract could benefit your business, please contact us at firstname.lastname@example.org.
1. Vancouver Industrial Market Report Q3 2021, Colliers, Oct 8, 2021. Accessed Nov 15, 2021.