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Toronto Industrial Insight - Q2 2017

The Greater Toronto Area (GTA) continued its positive run recording 1.75 million square feet of positive net absorption in the second quarter. However, despite positive growth the total vacancy rate edged up by 20 basis points quarter-over-quarter to reach 2.9 percent. Why? Because there was 1.4 million square feet of speculative construction delivered to the market. Even with an increase in the vacancy rate market fundamentals remain strong. For example, the average asking net rent continued to trend upward (hitting a record high of $6.17 per square foot this quarter) as landlords across the GTA  respond to the glaring lack of available industrial spaces for tenants. ​

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