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The Island of Montréal’s industrial market continued to tighten in the fourth quarter. Although leasing activity remained strong, demand dipped substantially in comparison to the second and third quarters. Tenants continued to look toward the off-island suburbs however, the renewed demand for manufactured goods allowed for the absorption of older blocks of space with less clear height on the Island of Montréal. As a result, vacancy continued to slip, reaching 5.3 percent in the fourth quarter from 7.25 percent in the first quarter.
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