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Pacific Canada  + Alberta & Prairies + Canada + Cross Border News  + Industrial  | 
Canadian industrial investors are starting to return large amounts of space to the market.

Too Many Parking Spots at Vancouver-Area Industrial Sites: NAIOP

Metro Vancouver and Fraser Valley industrial sites have too many parking spots, says a new NAIOP report.

NAIOP’s Vancouver chapter and Bunt & Associates Engineering, which collaborated on the report, are calling for new municipal parking policies that optimize industrial land usage. Metro Vancouver and Fraser Valley suffer from a severe industrial land shortage that has prompted investors, developers and tenants to spend their money elsewhere.

“By working with municipalities to reduce excessive parking requirements on industrial sites, we can prevent pushing businesses out of the area,” said Carl Funk, Beedie’s director of industrial planning and development, in a news release.

Researchers determined that Metro Vancouver and the Fraser Valley industrial sites have a 50% oversupply of parking spaces.

According to a Greater Vancouver Board of Trade and NAIOP-commissioned study, firms preferring to invest in Metro Vancouver took up 5.1 million square feet of industrial space in Calgary instead.


Inside The Story

NAIOP VancouverBunt & Associates

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Lease
  • ◦Sale/Acquisition
  • ◦Development
  • ◦Policy/Gov't
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