Industrial real estate remains tight, however rental rates slide in Nanaimo area
NANAIMO — A competitive industrial real estate market on mid Vancouver Island continues putting a squeeze on sparse inventory.
An annual fall report by commercial real estate firm Colliers International showed a vacancy rate of 1.9 per cent for industrially zoned building space in the Nanaimo area.
The third quarter 2024 vacancy rate is up year-over-year from the extremely tight .71 per cent vacancy rate (*last year’s report captured data within City of Nanaimo boundaries).