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Average asking net rental rates break the $6.00 per square foot mark for the first time in history

  • ​Average asking net rates in the Greater Montreal Area (GMA) have surpassed $6.00 a square foot for the first time in history, indicating unsurpassed demand for industrial space in the market. As vacancy rates across the GMA continue to drop and quality space becomes more scarce, the industrial real estate market is becoming increasingly favourable to landlords. 

  • The hike in demand is largely attributable to the weak Canadian dollar boosting export industries, increasing e-commerce activity, and an influx of data centers and data mining operations looking to benefit from affordable electricity provided by Hydro-Quebec.​

Source: JLL Research

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