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The Greater Toronto Area big box market experienced significant momentum in 2013, demonstrated by the continual decline in vacancy rates and rise in rental rates of all properties, most significantly Class A properties greater than 100,000 square feet. Recent transformation of the retail landscape, most notably the influx of multinational department stores and the growth of e-commerce, has helped contribute to this increase in demand. Developers have responded with 4.8 million square feet of current speculative construction, all located in the GTA West. Due to its preferable geographic location and availability of newer products, the GTA West remains the leading submarket in attracting high-profile corporate tenants.
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