CASCALA

Movie Studio Development

CASCALA

Movie Studio Development

Lights! Camera! Action!

CASCALA’s real estate consultants are expert in movie studio development.

Movie and TV producers have seized approximately 28.9% of all the industrial space leased in Metro Vancouver in the past year, often outbidding traditional tenants to become the dominant player in a tight market. The unprecedented demand from the $3.6 billion film industry in British Columbia, which has leased more than 1.5 million square feet since mid-2015, has helped to drive the Metro Vancouver industrial vacancy rate to 1.4% — even tighter, compared to the rate of 1.7% last year. Buoyed by high demand but low supply, industrial rental rates increased by 16% in 2018 to $11.86/sq-ft, marking the highest market average rate on record in the region.

The rate to lease industrial and logistics space in Vancouver saw an increase of 29.1% in the first quarter of 2018, making it the largest increase in the world for these type of spaces. CBRE’s Global Industrial and Logistics Prime Rents report notes that a lack of vacant supply and high demand is behind the high year-over-year growth, which was an all-time high for the city. In contrast, the global average increase was just 3.2% year-over-year. Neighbouring Seattle and Oakland also saw significant growth at 13.4% and 14%, respectively, for reasons like Vancouver’s market, with limited supply and strong demand for third-party logistics, food distribution, building supplies, and consumer goods.

In Vancouver’s case, the shortage is further exacerbated by the booming film industry’s need for large production studios in warehouse-like spaces.

Concept to Development

We help our clients solve problems by making superior planning and customized development decisions using strategic innovation and detailed analysis. We create exceptional real estate projects, including residential and commercial developments.

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