Global Food Properties is eager to announce the pending sub-lease of a 22,750 SF former dry beverage ingredients facility in the Delta, British Columbia submarket. As we note below, available industrial properties are rare in Vancouver, and rarer still are facilities with a frozen production infrastructure.
This availability surfaces as the industrial market records a historically low vacancy rate of 1.80%, a whopping 131 basis points below the most recent five-year average of 3.11%. Factors limiting supply include natural geographic boundaries, regulatory constraints on new development, and unusually robust demand, particularly among e-commerce, logistics, and warehouse tenants. Positive absorption increased 102% from Q2 2017 to Q3 2017, to nearly 1,500,000 SF, according to Colliers International Metro Vancouver research department. Market observers are confident absorption would have been higher still, had supply been able to meet demand.
Specific Property Bonuses
While the Delta facility will appeal to all industrial occupants, for those in food manufacturing of key interest will be tilt-up concrete walls with 26’ ceiling clearance; one (1) spiral freezer, feeding an exceedingly high-finish packaging room; refrigerated ingredient and frozen finished goods storage; and two 22 KG bulk dry silos adjacent to an environmentally enhanced mixing room.