Sales of industrial property in the Fraser Valley crested at $217 million in the first nine months of this year, already roaring past the all-year sales volumes for both 2010 and 2009.
It is likely that this year will even top the pre-recession level of $269 million hit in 2008, according to a survey by Avison Young. High demand and aggressive pricing are now characteristics in the Valley, where 147 industrial properties have sold so far this year.
Capitalization rates in the Fraser Valley have compressed to a range of 6 per cent to 6.25 per cent for quality assets, the study found. The survey covered Surrey, Langley, Abbotsford and Chilliwack.
