Transaction Insight: Should you be buying in Maple Ridge?
Historically, Maple Ridge has been considered a secondary market to most Valley-based business owners. They typically would look at Maple Ridge after establishing a presence (or not being able to find a location) in markets like Surrey and Langley.
Due to a very tight industrial market across the region, Maple Ridge is now being seen as an immediate option and experiencing increased demand for industrial real estate. This demand is mostly driven by businesses from across the Tri-Cities who consider Maple Ridge as “the place to go next” or an excellent “over-flow” option when they outgrow their current facility.
Due to this increase in demand, industrial real estate prices and lease rates in Maple Ridge are catching up to the other Fraser Valley markets. This is apparent in the sale price we achieved for this 1 acre development-ready industrial site in Kanaka Business Park (negotiated June 2021): $2,875,000 per acre. A new benchmark price per acre for the area (Based on all industrial land sales recorded in Maple Ridge as of November 15, 2021, source: Commercial Edge).
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