Coquitlam is out-performing Burnaby when it comes to industrial real estate sales growth, according to an October 28 report from Avison Young.
The brokerage counted 14 industrial real estate transactions worth almost $37 million in Coquitlam in the first nine months of 2014. That already exceeds the city’s 2013 total of 12 transactions valued at a mere $13 million.
Deal velocity in Burnaby, meanwhile, has slowed during the first nine months of 2014.
That inner suburb’s industrial real estate sector is much larger than in Coquitlam, given that its 22 transactions so far this year have generated more than $94 million in total industrial real estate sales in the first nine months of 2014.
However, that’s far below the 2013 total of 40 transactions closing at a value of more than $150 million.
“A lack of supply remains a constraint on deal velocity with both owner-users and investors seeking to secure industrial properties in Burnaby,” said Avison Young vice-president Kyle Blyth, who specializes in industrial property sales and leasing.
