Despite evident construction in the industrial sector, Raichura said that values are dropping.
“I think in truth, certain industrial values have fallen a lot more than the index,” he said. “Forecasting suggested, and we’ve been saying this for at least a year or so, we think industrial will outperform in the coming year.”
Raichura explained that the falling values happened in the market and are reflected in appraisal-based indices. He said that the indices are far behind the current market.
ReZa Norozy, COO of Prism Construction said that interest rates were expected to drop in 2024, and they did, though not as much as hoped.
Prism Construction specializes in large-scale commercial and industrial builds across British Columbia. With over 35 years of experience, their design-build model ensures seamless delivery of self-storage, retail, warehouse, and manufacturing facilities.
Prism Construction has over 25 years of experience as a leading general contractor in BC, delivering expert project management, quality control, and cost efficiency across diverse sectors including storage, hospitality, and commercial builds.
With over 25 years of experience, Prism Construction leads the way in commercial and industrial development across Canada. As a trusted design-build contractor, we streamline construction from concept to completion—saving time, reducing risk, and delivering consistent results.