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Leasing activity in the Greater Toronto Area (GTA) cooled down in the second quarter, with a change in net absorption of 3 million square feet less than the first quarter. As a result, the overall availability rate climbed by 40 basis points to 5.0 percent. Despite overall net absorption being negative, the GTA West market saw high positive net absorption due in part to new and extended big box deals in Milton, to high profile tenants such as Amazon, Reckitt Benkiser and RockTenn. The investment market continues to be dominated by activity in the GTA West, with Mississauga and Brampton alone recording sales volumes in excess of $260 million and $175 million, respectively.
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