Commercial Real Estate Market of the Month: Prince George, BC

How Is Prince George Leading Industrial Growth in Northern BC?

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Prince George continues to strengthen its position as Northern British Columbia’s central industrial and commercial hub. Strategically located at the intersection of Highways 16 and 97, and supported by strong road, rail, and air connectivity, the city serves as a key service centre for the forestry, mining, energy, and transportation sectors. Transport and logistics companies are an increasingly important tenant segment, reflecting the city’s growing role as a regional distribution and supply chain hub.

Why is Prince George Northern BC’s Industrial Hub?

Industrial space in Prince George remains in high demand, with vacancy rates holding below 1%. Key users include forestry service companies, oil and gas support firms, equipment distributors, and logistics operators. Most available space is made up of smaller light-industrial units or yard-oriented properties, leaving limited options for mid-sized businesses seeking modern, functional warehouse or workshop facilities.

Two significant industrial projects and expansions are currently underway to expand supply and meet long-term demand:

1. Prince George Global Logistics Park
   A large-scale expansion along Boundary Road designed for logistics, distribution, and large-format industrial users.
2. 3737 Highway 16 East Light Industrial Subdivision
   A seven-lot light-industrial park moving forward after rezoning approval and removal of a restrictive covenant.

These projects strengthen the city’s industrial pipeline and enhance its ability to attract new business and investment.

Industrial Growth & Development in Prince George, BC

Municipal approvals are supporting Prince George’s industrial growth. In 2024, City Council rezoned a 21.74-acre portion at 3737 Highway 16 East from Visitor Commercial (C5) to Light Industrial (M1), enabling the development of a seven-lot industrial subdivision.

Prince George’s main industrial areas—including the BCR (B.C. Railway), Carter, and CNR (Canadian National Railway) corridors—offer convenient access to major transportation networks and established industrial infrastructure. These locations remain highly attractive to logistics, fabrication, and service-oriented industrial tenants.

Key Takeaways for Commercial Real Estate Tenants

• Industrial space in Prince George is extremely limited, with near-full occupancy and few vacancies.
  
• The city’s strategic location and transportation infrastructure are attracting growing interest from logistics, distribution, and supply chain companies.

• Most available properties are small-scale or yard-oriented, creating challenges for mid-sized businesses seeking modern, functional facilities.

• Build-to-suit options are increasingly preferred, offering tailored industrial spaces that meet specific operational needs.

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Looking to lease industrial real estate in Prince George, BC? Our tenant-focused advisors are here to help you navigate the market with tailored insights and on-the-ground expertise.

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Our Market Intelligence team is committed to helping you stay ahead of the curve by identifying key trends that maximize both space and operational efficiency. With customized insights grounded in real-time data and extensive industry expertise, we ensure you’re equipped to make informed decisions in this competitive market.