Despite the unsettled economic environment, Q2 closed with historically low vacancy rates and increasing rental net asking rates in the GTA.
Industrial leasing markets in the short-to-midterm are projected to remain unchanged, with both new construction and existing space rental rates forecasted to continue increasing – while industrial market sales remain uncertain.
Net asking rents in the GTA increased 32% as compared to the previous year, coupled with a historic vacancy rate of 0.9%. The GTA currently has ~14 million square feet under construction, meaning those focussed on new developments should prepare for net asking rents significantly higher than the overall rate in the GTA.
The information in this report is obtained from sources deemed reliable, but no representation is made as to the accuracy thereof. Source for data is Savills Research.
